Question
Precyse Technologies provides supply-chain products and solutions that assist organizations in tracking their inventories using RFID technology. It was having difficulty improving the performance and
Precyse Technologies provides supply-chain products and solutions that assist organizations in tracking their inventories using RFID technology. It was having difficulty improving the performance and battery life of a particular RFID device; there were not adequate internal resources to tackle the problem. So, Precyse asked InnoCentive, a crowd- sourcing provider, for assistance, believing that crowdsourcing would provide quick access to a worldwide talent pool and a higher return on investment (ROI). Ultimately, the company received more than 300 ideas from global experts for solving its problem. It narrowed the pool down to three finalists, from which a winner was chosen. The whole process took approximately 4 months, and Precyse estimated that it saved the company $250,000.
1. Name any 2 of the inherent issues that need to be included in the detail system development document? (1 Marks)
2. How could crowdsourcing bring down the costs for Presyce? (1 Mark)
3. Describe 2 alternatives Precyse Technologies have other than crowdsourcing? (2 Marks)
4. Why would Precyse Technologies require the company with the winning idea build them a prototype before paying them the remainder of the $600,000 promised for the job? (2 Marks)
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