Manufacturing Economic
LEVEL: INTERMEDIATE HRDF: CLAIMABLE
Fifteen (15) CPD Hours approved by MBOT
TRAINERS:
Associate Professor Ir. Ts. Dr. Ainul Akmar Mokhtar, ASSOCIATE PROFESSOR Ir. Ts. Dr. Masdi Muhammad & Dr. Mazli Mustapha
6 - 8 MAY 2024
CAPE
Level 8, Permata Sapura, Kuala Lumpur City Centre, 50088 Kuala Lumpur
9.00AM - 5.00PM
RM 3,990 FOR PROFESSIONALS
10% Discount for Early Bird (until 6 April 2024) / Group / Students
CONTENT SUMMARY
INTRODUCTION
The Manufacturing Economy course provides an in-depth exploration of the manufacturing sector and its significant role in shaping local, national, and global economies. This course aims to equip participants with a comprehensive understanding of manufacturing processes, economic principles, and the interplay between manufacturing and economic development. Through a combination of theoretical concepts, case studies, and practical applications, participants will develop a nuanced perspective on the economic implications of manufacturing activities.
- Introduction to Manufacturing Economics:
- Overview of manufacturing economics and its importance in the industrial sector.
- Key concepts and terminology in manufacturing economics
- Cost Analysis and Cost Drivers:
- Cost classification and cost elements in manufacturing.
- Fixed costs, variable costs, and semi-variable costs.
- Direct costs and indirect costs.
- Cost drivers and their impact on manufacturing costs.
- Cost Estimation and Forecasting:
- Techniques for estimating and forecasting manufacturing costs.
- Cost estimation models and their applications.
- Factors influencing cost estimation accuracy.
- Cost-Volume-Profit Analysis:
- Understanding the relationship between costs, volume, and profit.
- Break-even analysis and determining the breakeven point.
- Contribution margin analysis and its implications for decision making.
- Cost Allocation and Activity-Based Costing (ABC):
- Methods of cost allocation in manufacturing.
- Activity-based costing and its advantages in manufacturing.
- Allocating indirect costs based on activity drivers.
- Financial Evaluation of Manufacturing Projects:
- Evaluating manufacturing projects using financial metrics such as net present value (NPV), internal rate of return (IRR), and payback period.
- Assessing the financial viability and profitability of manufacturing investments
- Inventory Management and Control:
- Inventory costs and their impact on manufacturing operations.
- Inventory control techniques, including economic order quantity (EOQ) and just-in-time (JIT) inventory systems.
- Inventory carrying costs and stockout costs.
- Pricing Strategies in Manufacturing:
- Pricing decisions and strategies in a manufacturing context.
- Cost-based pricing, market-based pricing, and value-based pricing.
- Price elasticity and its implications for pricing decisions.
- Manufacturing Financial Performance:
- Depreciation concepts and terminology• Break even analysis
- sensitivity analysis
- Gain loss on disposal assets
- Revenue and sales
- Global Manufacturing Economics:
- International trade and its impact on manufacturing economics.
- Offshoring, outsourcing, and their implications for manufacturing.
- Exchange rates, tariffs, and trade agreements.
OBJECTIVES
Upon completion of this course, participants will be able to:
- To demonstrate the monetary side of engineering, basics concepts of engineering financial and its underlying principles.
- To apply the various methodology of engineering financial analysis and their application.
- To propose solutions to problems related to the interests, depreciation, depletion, income taxes, effect of inflation, tools for evaluating alternatives, capital financing, replacement analysis and sensitivity analysis in project situations involving risk and uncertainty.
WHO SHOULD ATTEND?
- Anyone involved in manufacturing sectors
- Asset Managers and Executives
- Engineers, Researchers & Consultants
OUR TRAINERS
1. Associate Professor Ir. Ts. Dr. Ainul Akmar Mokhtar (UTP)
2. Associate Professor Ir. Ts. Dr. Masdi Muhammad (UTP)
Associate Professor Dr Masdi Muhammad current position as Head, Reliability Engineering and Asset Management research group, UTP. Academic qualifications, Degree in Mechanical Engineering from Lehigh University, Pennsylvania, USA, Master of Science in Manufacturing System Engineering from Lehigh University, Pennsylvania, USA and PhD in Mechanical Engineering (Reliability Engineering) from Universiti Teknologi PETRONAS.
Area of expertise for AP Dr Masdi in, Reliability Engineering, Asset and operation management, Discrete event simulation and RAM Modeling, Life Cycle Cost Analysis and Predictive analytic modeling. AP Dr Masdi had professional certificate and award gains in Chartered Engineer (UK), HRDF Certified Trainer, Certified Reliability Engineer (CRE-8155) by American Society for Quality (ASQ), Certified Maintenance and Reliability Professional (CMRP- 156299) by Society for Maintenance and Reliability Professionals (SMRP).
3. Dr. Mazli Mustapha (UTP)
Dr. Mazli is a senior lecturer with highly effective trainer for protective coating for corrosion protection with 20 years experience. He has a great success record in the material engineering related filed. He has strong interest in corrosion science and engineering matters. He is currently a Professional Graduate Member of Institute of Materials, Minerals and Mining, UK. He is also the member of Institute of Material Malaysia and Committee Member of the Corrosion Committee of IMM during the 2018 – 2020 term. His current research is on the development of fibre metal laminate structure for oil and gas application.
REGISTRATION FEES
PROFESSIONALS
MYR3,990*
*fee quoted does not include SST, GST, HRDF service fee / VAT or withholding tax (if applicable).
EARLY BIRD/ GROUP/ STUDENT
MYR3,591*
*fee quoted does not include SST, GST, HRDF service fee / VAT or withholding tax (if applicable).
OUR LOCATION
Centre for Advanced & Professional Education (CAPE)
Level 8, Permata Sapura, Kuala Lumpur City Centre, 50088 Kuala Lumpur
CALL US
+605 - 368 7558 /
+605 - 368 8485
DROP US AN EMAIL
cape@utp.edu.my