Search intensively for low cost alternatives by:
Studying handbooks
Perusing trade literature
Contacting people who might have pertinent information
Focusing intense creativity sharply on the task to be accomplished
Refining the results obtained by the above methods
Unless this search for low cost alternative is effectively and penetratingly done, the real low cost solutions will not be identified by industrial engineers.
Handbooks only contain information on materials and processes and their uses. They will not contain cost information.
Cost information can be obtained by a combination of the following sources
The cost department and cost ledger, The financial accounting department and ledger
Cost analyses
Catalogues
Suppliers of products and materials
Special cost studies
Miles said 100 times more information than that which was presented in his book is necessary a high degree of value work.
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