Cost Estimating Software Expands Set Of Feature-Based Models

MTI Systems offers Costimator OEM V9.0, which is designed to enable manufacturing companies to assess, identify and reduce product costs throughout the product development lifecycle. This updated version provides users with an expanded set of feature-based cost models for use in the systems feature-based costing methodology. The feature library includes cost models for prismatic and cylindrical machined components, sheet metal fabrication and secondary, non-machining operations. It is intended to enhance the design engineer’s ability to understand the impact that varying product design alternatives have on cost. Another key feature is the addition of a cost model development tool called Cost Modeler. This tool enables users to develop their own processes or feature-based cost models.

The cost estimating software provides three types of estimating methods—feature-based, bottoms-up and parametric—to give users of varying manufacturing skill sets the ability to estimate product costs. Feature-based estimating enables design engineers to estimate the cost of alternative designs based on part features. Bottoms-up, or activity-based estimating, provides procurement organizations with the manufacturing times and costs they need to negotiate with suppliers and identify what parts should cost. Parametric estimating provides users with an instant estimating method based on historical cost data. According to the company, being able to identify product costs throughout the product development lifecycle gives users the ability to implement uniform and predictable costing strategies that result in significant product cost reductions.