Homework 1

Homework 1 - IE 320 Homework #1 1. Engineering Economic...

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IE 320 Homework #1 1. Engineering Economic Decisions - Decisions made pertaining engineering projects like design, investment, manufacturing, marketing and distribution which gives the worth of prospective projects are engineering economic decisions. - The decisions are involved from conceptual design to shipping. These decisions make 85% of product costs. - Engineering economic decisions are sum of engineering economy principles and technical knowledge. Example: consideration of risk of investment, forecasting product demand, estimating product cost and selling price and profit. 2. Strategic engineering economic decisions considering electrical engineering i) Material to produce a component Example: There is an option of choosing wide variety of materials like sand, silicon, plastic, paper or stones for production of resistors, capacitors or chip boards. The materials are chosen according to the need of client. ii) Design of the product Example: Weather to get the product designed by someone from outer source or to get it done by someone in company or do it yourself. iii) Equipment and process selection Example: For manufacturing a television. Weather to buy everything except for CRT and assemble everything at plant or to produce everything and get them assembled somewhere or
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This document was uploaded on 11/03/2011 for the course IE 320 at SUNY Buffalo.

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Homework 1 - IE 320 Homework #1 1. Engineering Economic...

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