Principles of Economics and Management for Manufacturing Engineering

Principles of Economics and Management for Manufacturing Engineering combines key engineering economics principles and applications in one easy to use reference. Engineers including design, mechanical, and manufacturing engineers are frequently involved in economics-related decisions, whether directly when selecting materials, or indirectly when managers make order quantity decisions based on their work. Having a knowledge of the management and economic activities that touch on engineering work is a core part of most foundational engineering qualifications and becomes even more important in industry.

Basic engineering economics theory including cost-benefit analysis, Maslow's hierarchy of needs, and supply and demand are defined before relevant management concepts are introduced, leading to more detailed discussions of production, demand forecast, decision theory, and value engineering. Covering a wide range of management and economic topics from the point of view of an engineer in industry, this reference provides everything needed to understand the commercial context of engineering work.