Department develops new graduate concentrations

Two new graduate-level concentrations developed by the Department of Industrial & Manufacturing Engineering & Technology are pending approval by Bradley University. The new graduate concentrations are: (1) Lean/Six Sigma concentration for the master’s of manufacturing engineering program, and (2) financial engineering concentration for the master’s of industrial engineering program.

The Lean/Six Sigma concentration will focus on courses and projects related to implementing theoretical and applicable knowledge in Lean manufacturing and Six Sigma.

Lean manufacturing is a production practice that emphasizes the efficient utilization of resources for the creation of internal and external customer value. Based on a survey developed by the department and administrated to constituencies, Lean manufacturing is considered one of the top skills sought by employers. While Lean manufacturing assists businesses in continuously improving their operations by eliminating wastes within the system, eventually the limitations of processes may still produce defective parts or mistakes, causing difficulties. Therefore, Six Sigma methodologies are necessary.

Six Sigma, originally implemented by Motorola in 1986, is a structured, quantitative approach to improving the quality and cost of products and processes. It is a highly disciplined method of decision-making that helps engineers focus on improving processes to deliver perfect parts. Lean and Six Sigma are hands-on engineering practices and are the keys in developing a strong management core that will aid in the enhancement of any enterprise.

While businesses worldwide have been utilizing Lean and Six Sigma for over two decades to manufacture better products at lower cost, the demand for employees with this knowledge remains high. Well-known companies, such as John Deere, Caterpillar, Hon Industries, Motorola, and UPS, use these methodologies and expect students to begin their careers equipped with these statistical and managerial skills.

Another exciting graduate program being developed is a financial engineering concentration for a Master of Science in industrial engineering degree. This concentration is a platform for mathematical, statistical, and computer science methods to be integrated into the theoretical framework and institutional settings in which they are applied. This concentration will provide a strong background for graduate students entering not only fields such as financial banking, investment, or private equity careers, but also cost engineering in areas such as manufacturing.

The added course flexibility given by these two concentrations will allow graduate students to design a curriculum that best suits their career paths. The development of new graduate programs also places the department in a promising position to create 3+2 or 4+1 programs.