ABSTRACT
Problems such as the allocation of the raw materials purchased from various suppliers to various manufacturing divisions and delivery of the finished goods produced in various factories to various distribution depots/markets are called transportation problems. 'Manufacturing technology' is concerned with the 'flow of materials' from raw material acquisition, through conversion in the workshop, to the shipment of finished goods to the customers. 'Production management' deals mainly with the flow of information, so as to manage the flow of materials efficiently by planning and control. 'Industrial economy' treats the flow of costs in order to reduce the production cost so as to set the price reasonably. As economies progress, the industrial structure of a nation changes from primary industry to secondary industry and further to tertiary industry. Industrial economics focuses on the flow of production costs, aiming to minimise these to facilitate competitive pricing.
