RUTGERS UNIVERSITY COLLEGE OF ENGINEERING Department of Industrial Engineering

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RUTGERS UNIVERSITYCOLLEGE OF ENGINEERINGDepartme
nt of Industrial Engineering

• Discussion with Undergraduates

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Agenda

• Speaker background
• Why Industrial Engineering
• Examples of IE in media businesses
• Movies
• Magazines
• Media Planning
• Conclusion

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Speak Background

• Education
• BA/BSE Rutgers University 1983
• MBA Harvard University 1988
• Employment
• United Parcel Service
• International Business Machines
• Booz, Allen and Hamilton (Media and Operations)
• Primedia Consumer Magazines
• Primedia Responsibilities
• Home Technology and Photography Titles PL
• Classified Advertising and Direct Response PL
• Internet PL
• Production, Manufacturing and Distribution
• Information Technology
• Strategy and Business Development
• Facilities
• Stuff

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Youve made a great career choice

• Industrial Engineering prepares you to run a
  business if thats what you wish
• Industrial Engineering, in my view, is about
  making organizations perform
• The reason is the IE provides both concepts and a
  mode of thinking that is ideal for enterprise
  management
• Analytical underpinning
• Good blend of management training
• Trains practitioners to think about optimizing
  results minimizing inputs, getting the most out
  of processes and obtaining maximum results
• Industrial Engineers can speak at an appropriate
  level with engineering peers, finance, market and
  sales teams something that few academic
  disciplines prepare students for
• Id like today to share with you some of my work
  and have you think expansively about all the
  avenues open to you

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Proof of Concept -- Probability

• Lets walk through the Monty Hall- Lets Make a
  Deal example

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The Answer?
SWITCH
STAY
Prize Placement
Prize Placement
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Pick
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AS YOU CAN SEE, REVEALING INFORMATION AFFECT THE
DECISION MAKING
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Industrial Engineering in Movie Production?

• To Come

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In Magazines

• Circulation, newsstand sales
• Distribution
• SIPs
• Process Design
• Organization Design

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An Industrial Engineering Framework
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An Industrial Engineering Framework
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Applying The Framework- Edit Example
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Applying The Framework- Sales Example
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Applying The Framework- Circulation Example
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Applying The Framework- Overhead Example
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Applying The Framework- Support Services Example
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Applying The Framework- Building the Organization
and Outsourcing
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How About Media Marketing?

• Media Planners use the concept of gross rating
  points to determine how to place media
• The notion is to reach the target audience as
  efficiently, and as effectively, as they can
• The goal is to drive brand awareness, brand image
  and purchase intent
• They want value, effectiveness and coverage
• Some advertising agencies or clients use an
  efficiency program called optimizers that balance
  price and coverage. But in my experience
  effectiveness gets little attention
• Does the concept of optimization remind anyone of
  IE?

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General Items

• Project financial go/no-go decisions
• People still using payback as a criteria!
• Product and Sales forecasting
• Queuing Theory

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Conclusion

• IE principles and practices are universally
  applicable wherever resources are scarce or
  productivity needs to be improved
• There is no reason why ay of you cant achieve
  senior leadership roles in any organization, or
  consult to them on any issue
• I hope this has been helpful!