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Estimating part cost

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Estimating part cost

When choosing materials, cost is always an important consideration. However, the cost of a component not only depends on the amount of material used, but the manufacturing processes used to convert it into its final form. These costs can be difficult to determine, particularly in the early stages of development, where the details of the design have yet to be specified.

This session reviews how the Part Cost Estimator model, available with the Synthesizer Tool, enables quick comparison of the price for different material and process chains. For example, how do you compare the cost of an aluminium casting against a plastic injection molding.

What you will learn:

  • How to apply the Part Cost Estimator – what assumptions are made and what inputs are required
  • How to combine the Part Cost Estimator with the material selection tools in CES Selector
  • How the Part Cost Estimator relates to the ProcessUniverse cost model.

Presenter(s): Dr. Mona Wang

Date: March 2019