San Antonio, Texas
June 10, 2012
June 10, 2012
June 13, 2012
25.287.1 - 25.287.9
Case Studies in Engineering Economics for Manufacturing CompetitivenessThe importance of competitiveness in manufacturing industry cannot beoveremphasized in the face of rapidly changing globalized economy.Competitiveness may be achieved through various mechanisms such as designingand building distinguished products, offering outstanding service, producing highproduct quality and of course by developing cost competitiveness. In this regard,it is recognized that undergraduate education mainly focuses on the technical anddesign aspects of the engineering profession while many other aspects includingmarketing, costing, project and financial management, which are the essentialneeds of the contemporary manufacturing businesses, receive much less attention.To address this issue, several elements have been incorporated in manufacturingengineering curriculum to expose students to the methods of costing ofengineered products and financial management. In the ‘Products and ToolDesign’ class students employ reverse engineering strategies to discover costdrivers in a product. They subsequently redesign the product to make it more costeffective as compared to the existing products. In ‘Value Design’ class, the topicof costing is developed in a ground-up manner where small as well as large scaleengineering projects are designed over longer time periods. Life cycle costing,sustainability, energy efficiency and green engineering principles are alsoincorporated in financial analysis. Different techniques for analysis andcomparison of alternative proposals followed by financial decision making aredemonstrated using problem solving methods. Practical and realistic insights areprovided by studying a set of case studies involving engineering economicapplications. Case studies are then discussed in the class to highlight theimportance financially responsible decisions through data collection, data analysisand communication. This paper will present some the case studies selected forthis purpose and the students’ response to the case study based teaching andlearning approach.
Manohar, P. (2012, June), Case Studies in Engineering Economics for Manufacturing Competitiveness Paper presented at 2012 ASEE Annual Conference & Exposition, San Antonio, Texas. 10.18260/1-2--21045
ASEE holds the copyright on this document. It may be read by the public free of charge. Authors may archive their work on personal websites or in institutional repositories with the following citation: © 2012 American Society for Engineering Education. Other scholars may excerpt or quote from these materials with the same citation. When excerpting or quoting from Conference Proceedings, authors should, in addition to noting the ASEE copyright, list all the original authors and their institutions and name the host city of the conference. - Last updated April 1, 2015