PSIE Industrial Magazine Volume 1 Issue 1 - Page 11

Page 11 Volume 1, Issue 1 Engineering Economy Engineering economics, previously known as engineering economy, is a subset of economics for application to engineering projects. Engineers seek solutions to problems, and the economic viability of each potential solution is normally considered along with the technical aspects. Work Study and Human Factor Engineering Work study investigates the work done in an organization and aims at finding the best and the most efficient way of utilizing the available resources (man, material, money and machinery) to achieve best possible quality work in minimum possible time. Human factors is concerned with the "fit" between the user, equipment and their environments. It takes account of the user's capabilities and limitations in seeking to ensure that tasks, functions, information and the environment suit each user. Automation Control Automation is the use of machines, control systems and information technologies to optimize productivity in the production of goods and delivery of services. The correct incentive for applying automation is to increase productivity, and/or quality beyond that possible with current human labor levels so as to realize economies of scale, and/or realize predictable quality levels Computer Integrated Manufacturing The term "computer-integrated manufacturing" is both a method of manufacturing and the name of a computer-automated system in which individual engineering, production, marketing, and support functions of a manufacturing enterprise are organized. In a CIM system functional areas such as design, analysis, planning, purchasing, cost accounting, inventory control, and distribution are linked through the computer with factory floor functions such as materials handling and management, providing direct control and monitoring of all the operations.