Industrial engineering is defined a profession that uses knowledge of natural and mathematical sciences that are gained through practice, experience, and study to benefit mankind through design, improvement, and development of integrated systems of people, energy, equipment, and materials. The profession borrows skills and knowledge in physical, mathematical, and social sciences with methods and principles of engineering design and analysis to evaluate results of such systems.
It is possible to trace industrial engineering to different sources. For instance, Fredrick Taylor is regarded as the father of industrial engineering despite most of his ideas not being original. Others that are worth mentioning include Adam Smith, David Ricardo, John Stuart Mill, and Thomas Malthus. Their works offered classical explanations for limitations and successes of the industrial revolution.
Future for industrial engineers
The advancing technologies and analytical methods for modeling complex manufacturing and service systems continue to increase with each day. It is easy to break down each project into certain important work elements. For instance, Gilbreth Family discovered that there about 17 of such motions. The time required to change a given motion is the same. There is a need to set up the environment for your workers so as to improve the efficiency of work. It is possible to place tools in certain locations so as to eliminate the selection and search.
Carrying out a time study
The majority of engineering companies find it quite difficult to estimate lead-time of their services and products. This is because they do not have a standard. Fortunately, industrial engineering provides a fair standard expectation for every operation. It is estimated that 12% of a firm’s total cost is attributed to direct labor, 45% from overhead, and 43% from material cost. Time study takes into account fatigue, unavoidable delays, and outside interferences.
This is the amount of time it takes to start producing a given part of on a machine. According to thyssenkrupp UK, when set-up times are very large, it means that your company can easily operate at high levels of finished goods and work in progress.
An industrial engineer is responsible for developing a cost analysis on machine purchase. Fortunately, there are many ways of doing this. For instance, the lifecycle of a machine plays a major role in coming up with a cost analysis.
Remember that inventory is capital and it is not possible to convert it until it is processed and bought by customers. Thus, it ought to be kept at its minimal. Inventory can tie up capital. Moreover, if a customer needs changes, then your inventory may run the risk of becoming obsolete.