Quick cost estimation model for early order stage

On time quotation and accurate cost estimate are two important factors influencing the ability of a company to sustain its business operation. Failure to fulfill requests for quotation can severely effect its business survival. Late and uncompetitive quotations will result in lost of customers. It i...

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Main Authors: Mohamed Rasin, Mohamad Zaihirain, Ismail, Napsiah, Salit, Mohd Sapuan, Wong, Shaw Voon
Format: Article
Language:English
Published: Universiti Teknikal Malaysia Melaka 2009
Online Access:http://psasir.upm.edu.my/id/eprint/16417/1/Quick%20cost%20estimation%20model%20for%20early%20order%20stage.pdf
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author Mohamed Rasin, Mohamad Zaihirain
Ismail, Napsiah
Salit, Mohd Sapuan
Wong, Shaw Voon
author_facet Mohamed Rasin, Mohamad Zaihirain
Ismail, Napsiah
Salit, Mohd Sapuan
Wong, Shaw Voon
author_sort Mohamed Rasin, Mohamad Zaihirain
collection UPM
description On time quotation and accurate cost estimate are two important factors influencing the ability of a company to sustain its business operation. Failure to fulfill requests for quotation can severely effect its business survival. Late and uncompetitive quotations will result in lost of customers. It is vital for manufacturing companies to generate cost estimates quickly and accurately otherwise they might either loose their business or not make sufficient profit. Cost estimation process requires good knowledge in the structure of the part and its manufacturing processes. Cost estimation can be done with a high degree of accuracy but it takes too long and if it is done in a short period of time the accuracy is usually quite poor. Generating detailed process plan requires a substantial amount of time and data. Unfortunately, not all necessary information is available during the costing stage. This paper shows the possibility of developing part cost estimate without having to construct its detail process plan. It presents a model for estimating part process cost which allows a cost estimate to be generated quickly with certain degree of accuracy by utilizing parametric techniques and part feature representation.
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spelling upm.eprints-164172015-10-23T01:05:12Z http://psasir.upm.edu.my/id/eprint/16417/ Quick cost estimation model for early order stage Mohamed Rasin, Mohamad Zaihirain Ismail, Napsiah Salit, Mohd Sapuan Wong, Shaw Voon On time quotation and accurate cost estimate are two important factors influencing the ability of a company to sustain its business operation. Failure to fulfill requests for quotation can severely effect its business survival. Late and uncompetitive quotations will result in lost of customers. It is vital for manufacturing companies to generate cost estimates quickly and accurately otherwise they might either loose their business or not make sufficient profit. Cost estimation process requires good knowledge in the structure of the part and its manufacturing processes. Cost estimation can be done with a high degree of accuracy but it takes too long and if it is done in a short period of time the accuracy is usually quite poor. Generating detailed process plan requires a substantial amount of time and data. Unfortunately, not all necessary information is available during the costing stage. This paper shows the possibility of developing part cost estimate without having to construct its detail process plan. It presents a model for estimating part process cost which allows a cost estimate to be generated quickly with certain degree of accuracy by utilizing parametric techniques and part feature representation. Universiti Teknikal Malaysia Melaka 2009 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/16417/1/Quick%20cost%20estimation%20model%20for%20early%20order%20stage.pdf Mohamed Rasin, Mohamad Zaihirain and Ismail, Napsiah and Salit, Mohd Sapuan and Wong, Shaw Voon (2009) Quick cost estimation model for early order stage. Journal of Advanced Manufacturing Technology, 3 (1). pp. 45-72. ISSN 1985-3157; ESSN: 2289-8107 http://journal.utem.edu.my/index.php/jamt/index
spellingShingle Mohamed Rasin, Mohamad Zaihirain
Ismail, Napsiah
Salit, Mohd Sapuan
Wong, Shaw Voon
Quick cost estimation model for early order stage
title Quick cost estimation model for early order stage
title_full Quick cost estimation model for early order stage
title_fullStr Quick cost estimation model for early order stage
title_full_unstemmed Quick cost estimation model for early order stage
title_short Quick cost estimation model for early order stage
title_sort quick cost estimation model for early order stage
url http://psasir.upm.edu.my/id/eprint/16417/1/Quick%20cost%20estimation%20model%20for%20early%20order%20stage.pdf
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