Industrial Engineering for Society Prosperity.
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INTRODUCTION TO MODERN INDUSTRIAL ENGINEERING.
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Returning US productivity to its long-term trend of 2.2 percent annual growth would add $10 trillion in cumulative GDP over the next ten years. This is equivalent to every US household seeing a cumulative income gain of $15,000 over that period.
It’s an aspirational prospect and one with historical precedent. In 1995, five-year productivity growth averaged 1.6 percent, only for productivity to jump to 3 percent the following decade. Recent technology advances, including in AI and biotechnology as well as productivity spikes since the global COVID-19 pandemic, raised hopes (albeit briefly) that perhaps another boost may lie ahead.
https://www.mckinsey.com/mgi/our-research/rekindling-us-productivity-for-a-new-era#introduction
2.2 Percent Annual Increase in Productivity
Who will manage it? Industrial engineers.
Industrial engineers have the knowledge, focus and skills to increase productivity through improvement of products, facilities and processes, and manage productivity improvement.
INDUSTRIAL ENGINEERING is #redesign (#engineering) of #Products, #Facilities and #Processes for #Productivity increase.
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