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In Engineer-To-Order manufacturing with competitive bidding, improving cost estimation accuracy is necessary for the contractor to gain highly expected profits from accepted orders. Thus, it is critical to maintain the number of human resources required for cost estimation. However, the human resources are also required for execution of the accepted orders. Namely, in the Engineer-To-Order manufacturing, a balance of common resources for cost estimation in yielding the future profits and for execution of the accepted orders is essential for making a stable profit. In this paper, we build a mathematical model describing relations among cost estimation accuracy, order acceptance, sales, and profits through multiperiod operations in consideration of characteristics of competitive bidding. Using our model, we analyse the relations between the volume of human resources allocated for the cost estimation and the expected profits from the accepted orders as well as the effect of a strategy for accepting orders on the expected profits through multi-period operations.

A STRATEGY FOR ACCEPTING ORDERS IN ETO MANUFACTURING WITH COMPETITIVE BIDDING - Analysis of Bidding Strategy and Expected Profits via Multi-Period Operations