For a Tier One RFI questionnaire how is Turnover different from Turnover in required RFI-commodity ?

Question

For a Tier One RFI questionnaire how is Turnover different from Turnover in required RFI-commodity ?

Answer 1

Need a little help: what does RFI stand for?  

Request For Information?

If so, RFI is a common abbreviation for a business process when a customer wants to find out what capacity your shop has for making parts.  Typically, the shop makes up a list of machines and their capacities (for example a forging press will have a certain ton rating, a certain amount of part size, etc.)

What is meant by Turnover?  

This word can have several meanings.  I think in this context it MIGHT mean the ratio of sales revenue (how much money the shop makes) to the capital assets (how much the shop cost).  (It is presumed that the higher this ratio, the better the use that is being made of the assets in generating sales; see link below)

Turnover can also mean how many times per year does the shop completely process a batch of material (inventory turnover).   It is presumed that the more number of times raw material can be completely "turned-over" into finished goods will indicate how efficiently the shop operates.  A complete inventory turnover of 4-8 times/year is considered "good", more is better.

There are two things you need to be careful about:  1) the abbreviations and terms used on the questionaires have a very specific meaning, so please look them up carefully, and 2) these questions are typically from a company conducting a survey and interested in doing future business - make sure you have a formal QUALITY PLAN prepared - it will be the next question they will ask, and if there isn't one, they will move on to the next shop.  (A quality plan describes exactly how the shop processes material - ISO9000 is one such plan, but you can make your own).

You need to find out what standards the company is using (ANSI, ISO, SAE, ASME, MIL-SPECs, etc.).  These standards organizations have many documents that will describe and precisely define the terms and requirements.  Most of the time they cost money to purchase, but you can lose money if the terms are not understood exactly.