Published By: SME
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This chapter examines the following concepts: economics of composites manufacturing processes, planning, corporate creativity, the ethical process, and managing technology. Most companies use the income statement as a simple method of determining the success of a business. Comparisons between various manufacturing processes are difficult because the costs vary according to the nature of the part, the volume of parts made, and the efficiencies of each manufacturer’s operation. The costs of any real product are more than just the price of the product as it is originally sold. Over the life of the product there are other costs. Technology has purpose; that purpose is generally to extend human capabilities. Costs should be analyzed in detail to understand them fully and discover methods that might be used to reduce them. Planning in a world of change is critical to success. Another of the most important aspects of business is creativity. Ethics is also a critical factor in long term profitability.
By Philip D Rufe, CMfgE
By Ahmad K Elshennawy, Gamal S Weheba, PhD