MS8006 Economics of Manufacturing NTU Assessment

Nanyang Technological University (NTU) Economics of Manufacturing module will embrace the manufacturing history starting from craftsmanship till the mass production. The NTU MS8006 course will also highlight Toyota’s production system.

The MS8006 Economics of Manufacturing module Learning attainment

The NTU Economics of Manufacturing curriculum is a part of Liberal Arts (LA) electives.

On completing the MS8006 subject successfully students will gain knowledge on

1. Its aim to provide candidates with a comprehensive understanding and approach of manufacturing prevailing in the present Economic Times

From the NTU Economics of Manufacturing tutorials, We will see various manufacturing approaches whose main objective is to eliminate waste, unnecessary labor, lost resources, and poor fuel efficiency.

2.To analyze various approaches by the participants used to provide the manufacturing services

The four key elements used to make a strategic plan include vision, market opportunities, core competencies, and effective execution to be analyzed by the MS8006 notes. 

3. To get familiar with the application of various strategies

Manufacturing strategy is adopted by the business unit to achieve the desired infrastructure, manufacturing structure, and specific capabilities.
These are to be included in the Economics of Manufacturing Final year project 

4.To have a hands-on and practical approach to today’s Economics of manufacturing

Candidates will learn from MS8006 lectures about the process of manufacturing that is making finished goods from the raw materials by the use of chemical processing, machinery, human, labour, and tools.

5.To provide an Insight into mass production and their rise and fall

The Economics of Manufacturing course will aim at the days of Henry Ford to the Sakichi Toyota days. We will also study how Japan after World War II was able to make and reach its present Economic preeminence.

6.To understand the Toyota production system in depth by the students

Learners will study the strength of the system to meet the challenges of the economic environment. The MS8006 assignments will also focus on the Rapid change in business demands and customer demands in the present era.

7.To embrace and learn the history of manufacturing

The history would start from craftsmanship till the mass production. It will also focus on the Toyota production system. The NTU module will further uncover the Japanese methods, techniques, and strength by comparing to the Henry Ford western approach related to Economics of scale

8.Developing thinking skills and applying theory to understand the challenges faced by businesses and economy

To enhance learning through the MS8006 project work and the share group case.

Candidates will go through manufacturing problems in present times such as skills gap, the internet of things, supply chain management, automation, and incorporating robotics

9.To embrace the entire chain of task ranging from product design till manufacturing and finally the distribution

From the Economics of Manufacturing elective students will learn about various steps included in a supply chain. A supply chain is a system of resources, information, activities, people, and organizations involved in supplying a service or a product to the consumers.

10.To apply and develop the knowledge gained on the various aspects of manufacturing

To enhance the capability of the participant through MS8006 class participation.

They will acquire knowledge on various aspects such as the planning stage, developing a product, prototype production, evaluation, commercial process, inspection procedure, shipment details, and finally the delivery.

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The Economics of Manufacturing module final grade sheet would comprise marks secured in written exam, continuous assessment, writing essay, assignments, and dissertations.

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