26 April
Industrial engineers add value to systems and processes by reducing the cost. The cost can be estimated cost or actual cost. At the design stage it is estimated cost. Value engineering studies in construction project designs are example of estimated cost reductions. It is done routinely in USA.
Industrial engineering departments are not reporting their achievements through the annual financial statements of their companies. They have to take courage and prepare annual reports of their department and ask their company management to make them public.
Value Creation Model for Industrial Engineering - Productivity Engineering
https://nraoiekc.blogspot.com/2020/03/value-creation-model-for-industrial.html
Part of
A to Z of Industrial Engineering - Principles, Methods, Techniques, Tools and Applications
https://nraoiekc.blogspot.com/2018/06/a-to-z-of-industrial-engineering.html
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