Question

five SWOT applications related to Industrial Engineering such as in supply chain management, production, quality, facilities planning

Answer 1

Following are the applications of SWOT analysis related to Industrial Engineering such as in supply chain management, production, quality, facilities planning, these are as stated below:

• We perform SWOT analysis as we want to gain more insights about an organization and its various facilities. Such facilities could include supply chain management, production, quality and planning. We can gain more insights on internal factors of the company. Such Internal factors could be strength or weakness as applicable for a company or departments. Here, for Industrial engineering departments and facilities, we can do analysis to know about strengths and weakness. Again, there are various external factors that could also impact on the health of organization and its department, hence, we will definitely learn about external factors like opportunities and threats. As, organization wants to increase their revenue, so they must gain their knowledge and insights on all such Internal and external factors.
• Another application of SWOT in the context of Industrial engineering is to exploit all the opportunities by applying their strength. For example: company has received huge confirmed order, however, with technological improvement in production facilities and with effective engagement of team members, they can exploit the opportunity.
• If company or firm has performed SWOT analysis, then they identified various weakness and threats, hence, in the next step, they can build proper risk responses to eliminate such weakness and threats.
• Firm may not eliminate all the risks that they have identified through analysis, however, they can reduce probability of occurrence of various threats, they can also reduce impact of the threats, hence, we will first perform SWOT analysis very sincerely, then, we will work on mitigating the threats as essential for the firm.
• Firm wants to implement some new products and services, they want to capture new market, they want to improve their supply chain facilities, all such situation, they require SWOT analysis before taking any crucial decision.