Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization's resources in order to achieve the objectives of that policy.
Industrial Engineering and Management is concerned with the development, and evaluation of integrated systems of people, equipment, energy, materials, analysis, simulations, models, transportation engineering, Transport and Logistics and synthesis. This also includes the mathematical, physical and social sciences together with the principles and methods of engineering design to specify, predict, and evaluate the results to be obtained from such systems or processes. The journal provides an open access platform for the development and evaluation of financial distress prediction, operations management, safety engineering, Industrial Management, value and supply chain management.