review10 - Industrial trends and innovations Reverse...

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Industrial trends and innovations Reverse Auction - Contractors are concerned about a growing trend among owners to use the Internet to seek the lowest price from anonymous bidders for construction services, a process called "reverse auction." Contractors fighting for the lowest price often sacrifice quality, safety, and margins. Benefits: low price, which will reduce cost. Cost: losing quality and safety over low price Solution: choose vendor by reverse auction, then regularly monitor vendor performance by price/quality analysis, raw material inspections to see if this vendor qualify in quality while offering the low price. Using bar-code, RFID tag and shipment number in inventory tracking tailored to SCW: use bar-code and shipment number for receiving department inventory entries Benefits: increase efficiency by reducing costs of data entry errors and time receiving employees spend on counting raw materials and enter data into system, also increase effectiveness by reducing the chance of data entry errors Cost: might be expensive to implement Solution: Industrial bar-code scanners are becoming more and more affordable for small businesses: quoted prices: Upselling Have you noticed whenever you buy a burger, the sales people always try to persuade you to "Go Large", or have "extra fries" etc. Have you also noticed at the checkout of every superstore are racks of things you would not have thought of buying, but as you stand there waiting at the checkout, you suddenly realise all the things you "need". Scary stuff! Real
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This note was uploaded on 03/30/2012 for the course MANEC 453 taught by Professor Jerrynelson during the Fall '10 term at BYU.

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review10 - Industrial trends and innovations Reverse...

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