Details
| Original language | English |
|---|---|
| Pages (from-to) | 414-419 |
| Number of pages | 6 |
| Journal | Procedia CIRP |
| Volume | 12 |
| Publication status | Published - 14 Oct 2013 |
| Event | 8th CIRP International Conference on Intelligent Computation in Manufacturing Engineering, ICME 2012 - Ischia, Italy Duration: 18 Jul 2012 → 20 Jul 2012 |
Abstract
Tool and mould manufacturers typically prepare their quotation provide an accurate price of, for example, a die casting mould is a key competitive factor for such companies. However, particularly in the customised production area, calculating the quotations and tenders has been proven as extremely challenging and subjective matter. One main cause is that time dynamic costs are rarely taken into consideration sufficiently even though they have a major impact on the final quotation due to the large time frame between the moment of the initial quotation and the actual production start. They neglect can lead to a significant discrepancy of up to 40 percent between pre- And post-calculation and thus to a loss of the corporate added value. A novel method developed at the Institute of Production Engineering and Machine Tools (IFW), Leibniz Universität Hannover, aims to provide a framework which allows tool and mould manufacturer to prepare a more precise and reliable quotation by taking time-dependent dynamic costs into consideration. The prediction of the time dynamic costs takes place by using stock market pricing mechanisms. Subsequently, based on enterprise related knowledge aggregation, this method also accounts for the probability of occurrence of each quotation thereby minimising the discrepancy between the pre- And post-calculation.
Keywords
- Enterprise related aggregation of knowledge, Prediction markets, Pricing, Time dynamic cost, Tool and mould manufacturing industry
ASJC Scopus subject areas
- Engineering(all)
- Control and Systems Engineering
- Engineering(all)
- Industrial and Manufacturing Engineering
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In: Procedia CIRP, Vol. 12, 14.10.2013, p. 414-419.
Research output: Contribution to journal › Conference article › Research › peer review
}
TY - JOUR
T1 - Stock market related pricing mechanisms for the tool and mould manufacturing industry
AU - Denkena, B.
AU - Nemeti, A.
PY - 2013/10/14
Y1 - 2013/10/14
N2 - Tool and mould manufacturers typically prepare their quotation provide an accurate price of, for example, a die casting mould is a key competitive factor for such companies. However, particularly in the customised production area, calculating the quotations and tenders has been proven as extremely challenging and subjective matter. One main cause is that time dynamic costs are rarely taken into consideration sufficiently even though they have a major impact on the final quotation due to the large time frame between the moment of the initial quotation and the actual production start. They neglect can lead to a significant discrepancy of up to 40 percent between pre- And post-calculation and thus to a loss of the corporate added value. A novel method developed at the Institute of Production Engineering and Machine Tools (IFW), Leibniz Universität Hannover, aims to provide a framework which allows tool and mould manufacturer to prepare a more precise and reliable quotation by taking time-dependent dynamic costs into consideration. The prediction of the time dynamic costs takes place by using stock market pricing mechanisms. Subsequently, based on enterprise related knowledge aggregation, this method also accounts for the probability of occurrence of each quotation thereby minimising the discrepancy between the pre- And post-calculation.
AB - Tool and mould manufacturers typically prepare their quotation provide an accurate price of, for example, a die casting mould is a key competitive factor for such companies. However, particularly in the customised production area, calculating the quotations and tenders has been proven as extremely challenging and subjective matter. One main cause is that time dynamic costs are rarely taken into consideration sufficiently even though they have a major impact on the final quotation due to the large time frame between the moment of the initial quotation and the actual production start. They neglect can lead to a significant discrepancy of up to 40 percent between pre- And post-calculation and thus to a loss of the corporate added value. A novel method developed at the Institute of Production Engineering and Machine Tools (IFW), Leibniz Universität Hannover, aims to provide a framework which allows tool and mould manufacturer to prepare a more precise and reliable quotation by taking time-dependent dynamic costs into consideration. The prediction of the time dynamic costs takes place by using stock market pricing mechanisms. Subsequently, based on enterprise related knowledge aggregation, this method also accounts for the probability of occurrence of each quotation thereby minimising the discrepancy between the pre- And post-calculation.
KW - Enterprise related aggregation of knowledge
KW - Prediction markets
KW - Pricing
KW - Time dynamic cost
KW - Tool and mould manufacturing industry
UR - http://www.scopus.com/inward/record.url?scp=84886781541&partnerID=8YFLogxK
U2 - 10.1016/j.procir.2013.09.071
DO - 10.1016/j.procir.2013.09.071
M3 - Conference article
AN - SCOPUS:84886781541
VL - 12
SP - 414
EP - 419
JO - Procedia CIRP
JF - Procedia CIRP
SN - 2212-8271
T2 - 8th CIRP International Conference on Intelligent Computation in Manufacturing Engineering, ICME 2012
Y2 - 18 July 2012 through 20 July 2012
ER -