Industrial production is a measure of output of the industrial sector of the economy. The industrial sector includes manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP (Gross Domestic Product), they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance. Industrial Production figures are also used by central banks to measure inflation, as high levels of industrial production can lead to uncontrolled levels of consumption and rapid inflation.A typical under-graduate course on Industrial & Production engineering emphasises on manufacturing and improvement of productivity. A student also learns the trends of dynamics and control and hence develops a sound knowledge about overall industrial production and management. He/ She also learn to analyse the emerging technological trends of the industry.
Manufacturing industries, these days, are in constant look out for multiple ways of reducing cost of handling through innovative ways of packaging, storage and other efficient logistical processes. A good and updated course on industrial and production engineering makes a student smart enough to understand existing technological trends and adding new technology to the existing system so as to make it at par with the recent trends.Most leading manufacturing houses look out for engineers who specialise in Industrial Production so as to meet reduce cost, increase efficiency and make their products marketable in the competitive era.
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