Empirical Models of Fast Cost Estimation for Modular Mechanical Products

Abstract:

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Empirical models, which are based on linear regression method, will enable the transfer of the quote experiences and knowledge hidden within company’s databases since the use of experts’ judgment is unavoidable for most manufacturing companies to estimate the product cost in the early phases of the design cycle. By studying many quote cases on medium and large size mechanical products and analyzing the relationship between costs and relevant structural variables, the empirical equations are mathematically modeled for modular products. With an H-frame hydraulic forging press example, the estimating process is implemented and successfully demonstrated.

Info:

Periodical:

Materials Science Forum (Volumes 628-629)

Edited by:

Dongming Guo, Jun Wang, Zhenyuan Jia, Renke Kang, Hang Gao, and Xuyue Wang

Pages:

143-148

DOI:

10.4028/www.scientific.net/MSF.628-629.143

Citation:

Y.Q. Huang et al., "Empirical Models of Fast Cost Estimation for Modular Mechanical Products", Materials Science Forum, Vols. 628-629, pp. 143-148, 2009

Online since:

August 2009

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Price:

$35.00

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