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RUTGERS UNIVERSITY COLLEGE OF ENGINEERING Department of Industrial Engineering

RUTGERS UNIVERSITY COLLEGE OF ENGINEERING Department of Industrial Engineering. Discussion with Undergraduates. Agenda. Speaker background Why Industrial Engineering Examples of IE in media businesses Movies Magazines Media Planning Conclusion. Speak Background. Education

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RUTGERS UNIVERSITY COLLEGE OF ENGINEERING Department of Industrial Engineering

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  1. RUTGERS UNIVERSITYCOLLEGE OF ENGINEERINGDepartment of Industrial Engineering Discussion with Undergraduates

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

  3. 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 P&L • Classified Advertising and Direct Response P&L • Internet P&L • Production, Manufacturing and Distribution • Information Technology • Strategy and Business Development • Facilities • Stuff

  4. You’ve made a great career choice • Industrial Engineering prepares you to run a business if that’s 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 • I’d like today to share with you some of my work and have you think expansively about all the avenues open to you

  5. Proof of Concept -- Probability • Let’s walk through the “Monty Hall- Let’s Make a Deal ” example

  6. The Answer? SWITCH STAY Prize Placement Prize Placement 1 2 3 1 2 3 W L L L W W 1 1 Pick Pick W L W 2 L W L 2 W W L W 3 3 L L AS YOU CAN SEE, REVEALING INFORMATION AFFECT THE DECISION MAKING…

  7. Industrial Engineering in Movie Production? • To Come…

  8. In Magazines • Circulation, newsstand sales • Distribution • SIPs • Process Design • Organization Design

  9. An Industrial Engineering Framework

  10. An Industrial Engineering Framework

  11. Applying The Framework- Edit Example

  12. Applying The Framework- Sales Example

  13. Applying The Framework- Circulation Example

  14. Applying The Framework- Overhead Example

  15. Applying The Framework- Support Services Example

  16. Applying The Framework- Building the Organization and Outsourcing

  17. 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?

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

  19. 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 can’t achieve senior leadership roles in any organization, or consult to them on any issue • I hope this has been helpful!

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