Topic
Procurement
About: Procurement is a research topic. Over the lifetime, 25669 publications have been published within this topic receiving 334145 citations.
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TL;DR: In this article, the early stages of a PFI procurement, the decision to use the PFI rather than any other form of procurement, are discussed and two stages to this Guidance: qualitative and quantitative assessments are discussed.
Abstract: The Private Finance Initiative (PFI), introduced to Britain in 1992, has become a major means of procuring public sector infrastructure. It involves long-term contracts whereby private sector suppliers construct and own capital assets and provide services for which they are paid on the basis of availability or use. This paper focuses on the early stages of a PFI procurement, the decision to use the PFI rather than any other form of procurement. In 2004 and 2006, the UK Treasury issued new Guidance as to how this should be done. There are two stages to this Guidance: qualitative and quantitative assessments. This paper comments on some of the key issues in the quantitative assessments: the treatment of risk, of residual and life-time costs, of tax, of rates of return and of the appropriate use of discounted flow techniques when finance is a constraint for an investing agency.
80 citations
Patent•
26 Nov 2002TL;DR: In this article, a computer based system that automatically gathers and analyzes relating to the procurement and utilization of a plurality of such assets, such as a fleet of industrial equipment, so as to maximize productivity and to reduce operating costs and administrative burdens by benchmarking relevant information.
Abstract: A computer based system that automatically gathers and analyzes relating to the procurement and utilization of a plurality of such assets, such as a fleet of industrial equipment, so as to maximize productivity and to reduce operating costs and administrative burdens by benchmarking relevant information. Benchmarking asset related data can be done on a company-wide or even industry-wide basis. The system is capable of benchmarking many different characteristics relating to assets. Industry-wide benchmarking can facilitate the determination of “best practices” for an entire industry. The system provides an analyst with a significant level of flexibility with regards to the types of data being benchmarked, the processing applied in the form a benchmark heuristic by the system.
80 citations
TL;DR: In this article, the authors present a new optimization model for construction logistics planning that is capable of simultaneously integrating and optimizing the critical planning decisions of material procurement and material storage on construction sites.
Abstract: Efficient planning of materials procurement and storage on construction sites can lead to significant improvements in construction productivity and project profitability. Existing research studies focus on material procurement and storage layout as two separate planning tasks without considering their critical and mutual interdependencies. This paper presents the development of a new optimization model for construction logistics planning that is capable of simultaneously integrating and optimizing the critical planning decisions of material procurement and material storage on construction sites. The model utilizes genetic algorithms to minimize construction logistics costs that cover material ordering, financing, stock-out, and layout costs. The model incorporates newly developed algorithms to estimate the impact of potential material shortages on-site because of late delivery on project delays and stock-out costs. An application example is analyzed to demonstrate the capabilities of the construction logistics planning model in simultaneously optimizing material procurement decisions and storage layout plans.
80 citations
TL;DR: The historical interrelations of government support of R & D and technical change in seven major American industries point to three types of policy that have been successful in the past, and a fourth type of policy, under which the government attempts to "pick winners" in commercial applied R& D, has been a clear-cut failure.
Abstract: The historical interrelations of government support of R & D and technical change in seven major American industries point to three types of policy that have been successful in the past: (i) government R & D support for technologies in which the government has a strong and direct procurement interest; (ii) decentralized systems of government-supported research in the "generic" area between the basic and the applied; and (iii) a decentralized system of clientele-oriented support for applied R & D. A fourth type of policy, under which the government attempts to "pick winners" in commercial applied R & D, has been a clear-cut failure.
80 citations
TL;DR: In this article, a literature review of freight transportation service procurement and investigates the challenges and opportunities regarding transportation organization and procurement mechanism design in the context of E-commerce is provided, which reveals that new business environments challenge the efficiency and effectiveness of the current leading procurement mechanisms.
Abstract: This paper provides a literature review of freight transportation service procurement and investigates the challenges and opportunities regarding transportation organization and procurement mechanism design in the context of E-commerce. A total of 78 articles published in academic journals between 1998 and 2017 were reviewed. A framework comprising seven classification criteria is proposed to analyze the articles. The results reveal that new business environments challenge the efficiency and effectiveness of the current leading procurement mechanisms. This work also identifies the trends and gaps from the viewpoints of practitioners and researchers and describes future prospects in new freight transportation markets and organizations.
80 citations