Cost Estimation Model Based on Improved Spreadsheet Algorithm for Assembly Line Manufacturing Systems

2012 ◽  
Vol 490-495 ◽  
pp. 2173-2177
Author(s):  
Bin Zeng ◽  
Rui Wang ◽  
Chao Yang Ma
Keyword(s):  
Cost Estimation ◽  
Manufacturing Systems ◽  
Cost Model ◽  
Manufacturing Cost ◽  
Cost Models ◽  
Estimation Model ◽  
Stochastic Variation ◽  
Virtual Plant ◽  
Model Based ◽  
Cost Estimation Model

Traditionally assembly cost models are established through static spreadsheet algorithms. However, there are some inherent problems in using spreadsheets for the estimation of manufacturing cost. Among these is the lack of accounting for dynamic effects caused by stochastic variation such as inventory fluctuation, downtimes, supply interruptions, and system failures. Therefore, a dynamic cost estimation model is proposed which can be seen as an integration method between spreadsheet modeling and the virtual plant concept, which maintained the accessibility and flexibility of the spreadsheet model, and did not require a significant increase in the effort level to build a simulation. However, it still includes the effects of interaction between machines, along with simulating random failures, maintenance dispatch and repair. A case study is also tested and the results verify that the methodology demonstrates the feasibility of dynamic cost model based on a number of improvements on static spreadsheet algorithms

Cost Estimation Model for Polyacrylonitrile-Based Carbon Fiber Manufacturing Process

2016 ◽  
Vol 139 (4) ◽  
Author(s):  
Amaninder Singh Gill ◽  
Darian Visotsky ◽  
Laine Mears ◽  
Joshua D. Summers
Keyword(s):  
Carbon Fiber ◽  
Cost Estimation ◽  
Large Scale ◽  
Cost Model ◽  
Cost Effective ◽  
Limiting Factors ◽  
Manufacturing Cost ◽  
Estimation Model ◽  
Cost Estimation Model ◽  
Fiber Manufacturing

A polyacrylonitrile (PAN)-based carbon fiber (CF) manufacturing cost estimation model driven by mass is presented in this study. One of the biggest limiting factors in the large-scale use of carbon fiber (CF) in manufacturing is its high cost. The costs involved in manufacturing the carbon fiber have been formalized into a cost model in order to facilitate the understanding of these factors. This can play a key role in manufacturing CF in a cost-effective method. This cost model accounts for the fixed and variable costs involved in all the stages of manufacturing, in addition to accounting for price elasticity.

scholarly journals Cost Estimation Model for PAN Based Carbon Fiber Manufacturing Process

2016 ◽  
Author(s):  
Amaninder Singh Gill ◽  
Darian Visotsky ◽  
Laine Mears ◽  
Joshua D. Summers
Keyword(s):  
Carbon Fiber ◽  
Cost Estimation ◽  
Large Scale ◽  
Cost Model ◽  
Cost Effective ◽  
Limiting Factors ◽  
Manufacturing Cost ◽  
Estimation Model ◽  
Cost Estimation Model ◽  
Fiber Manufacturing

A polyacrilonitrile (PAN) based carbon fiber manufacturing cost estimation model driven by weight is presented in this study. One of the biggest limiting factors in the large scale use of carbon fiber (CF) in manufacturing is its high cost. The costs involved in manufacturing the carbon fiber have been formalized into a cost model in order to facilitate the understanding of these factors. This can play a key role in manufacturing CF in a cost effective method. This cost model accounts for the fixed and variable costs involved in all stages of manufacturing, in addition to accounting for price elasticity.

scholarly journals Development of Cost Estimation Model of the Membrane System

2019 ◽  
Vol 8 (5C) ◽  
pp. 645-653
Keyword(s):  
Cost Estimation ◽  
Life Cycle Cost ◽  
Cost Model ◽  
Economic Assessment ◽  
Membrane System ◽  
Manufacturing Cost ◽  
Activity Based Costing ◽  
Estimation Model ◽  
Traditional System ◽  
Cost Estimation Model

Apart from product quality, the manufacturing cost is an important element to compete in the competitive industry. Detail economic assessment is important to estimate the product cost accurately and avoid overestimating or underestimating that give bad impact to the firm. Membrane system; a compact, sustainable and cheaper wastewater treatment system compared to the traditional system. Yet, there is limited study analysing the economic aspect of the membrane system due to the limited historical data, a complicated process involved and deal with tangible overhead costs. Thus, this study aims to develop a cost model to estimate the total cost of the membrane system during its lifespan. Activity-based costing (ABC) method is used as cost estimation technique to calculating the overhead cost and added the direct costs to determine the life-cycle cost (LCC) of the membrane system by using Microsoft Excel while Microsoft Visual Basic is used to demonstrate a user-friendly cost estimation model. The proposed cost model is a simpler system because the end user is guided to get the LCC value without has to deal with a complicated equation. The proposed model cost is tested to estimating the LCC of HFMM in treating wastewater from the prototype stage until the disposal stage.

Integration of friction stir welding into a multi-disciplinary aerospace design framework

2006 ◽  
Vol 110 (1113) ◽  
pp. 759-766 ◽  
Author(s):  
A. H. van der Laan ◽  
R. Curran ◽  
M. J. L. van Tooren ◽  
C. Ritchie
Keyword(s):  
Friction Stir Welding ◽  
Cost Estimation ◽  
Multidisciplinary Design ◽  
Manufacturing Cost ◽  
Automated Manufacturing ◽  
Estimation Model ◽  
Friction Stir ◽  
Manufacturing Methods ◽  
Cost Estimation Model ◽  
The Cost

Abstract Multidisciplinary design and innovative highly automated manufacturing methods are increasingly important to today’s aircraft industry: multidis-ciplinary design because it reduces lead-time and results in a better design, and automated manufacturing methods because they are more capable and reduce manufacturing cost. In this paper a cost estimation model is presented that integrates the manufacturing cost of friction stir welded connections within a multidisciplinary design decision tool. Due to the fact that friction stir welding is a new manufacturing method, the cost estimation model is based on the actual process physics, meaning what the process looks like in terms of processing speeds and characteristics. As an integral part of a multidisciplinary design framework, the developed cost estimation model contributes to a design support tool that assesses not only manufacturing but also structural and aerodynamic issues. It is shown that the cost model developed can be integrated into this more holistic design process support architecture. The predicted costs are accurate to the historical data and allow tradeoff of manufacturing and economic considerations within the context of the multidisciplinary design tool. The tradeoff capability is highlighted through a presented case study that compares the friction stir welding process as an alternative solution to more tradition riveting. Most importantly, this results in a quantitative tradeoff between two processes that shows the manufacturing cycle time of friction stir welding to be reduced by 60% and the recurring assembly cost by 20%.

A Cost Model for the Metal Inert Gas (MIG) Welding Process

2007 ◽  
Author(s):  
Pradeep Kumar Tipaji ◽  
Venkat Allada ◽  
Rajiv Mishra
Keyword(s):  
Cost Estimation ◽  
Material Selection ◽  
Cost Model ◽  
Welding Process ◽  
Inert Gas ◽  
Mig Welding ◽  
Estimation Model ◽  
Cost Component ◽  
Cost Estimation Model ◽  
The Cost

A cost model is an important tool for product design and material selection. An efficient and effective cost estimation tool is necessary for early design evaluations. In this paper, a cost estimation model is presented that estimates the production cost for metal inert gas (MIG) welded joints. This model determines the cost incurred in fabricating each joint with a detailed explanation of each cost component / driver. Each cost component has been closely analyzed and the major cost components have been included in the cost model. We used this cost model to predict the cost of the forty two different joints joined using MIG welding technique. The results predicted by the MIG welding cost model have been compared to that quoted by an expert welder. Initial results show that the cost model and the expert cost estimates follow a similar general trend. Further study is needed to refine the MIG cost model.

Examining barriers for the utilization of non-traditional cost estimating models in developing countries

2018 ◽  
Vol 16 (6) ◽  
pp. 814-827
Author(s):  
Bismark Agyekum ◽  
Ernest Kissi ◽  
Daniel Yamoah Agyemang ◽  
Edward Badu
Keyword(s):  
Cost Estimation ◽  
Construction Projects ◽  
Policy Formulation ◽  
Cost Models ◽  
Cost Estimating ◽  
Estimation Model ◽  
Building Projects ◽  
Content Type ◽  
Expert’S Opinion ◽  
Cost Estimation Model

Purpose Cost estimation model serves as a framework for forecasting the probable cost of proposed construction projects. It can be classified either as traditional or non-traditional depending on the cost variables formulation. However, in the building industry, quantity surveyors traditionally estimate the initial cost of building projects using the traditional models, which have been criticized overtime for its inaccuracies. This paper therefore aims to examine barriers for the utilization of non-traditional cost estimating models. Design/methodology/approach By using a questionnaire survey, respondents were invited to rate their level of agreement on 23 barriers identified from literature and interview (expert’s opinion). Findings Based on factor analysis inefficient techniques, perceptions of model techniques, unavailability of cost data and lack of understanding and unstable economic conditions were identified as barriers to the utilization of non-traditional cost estimating models. Practical/implications Findings demonstrate that there is need for quantity surveyors to get adapted to utilization of non-traditional cost models which offers better accuracies than the traditional approaches in their quest to improve their professional practices. Originality/value This study demonstrates that there are barriers to the utilization of non-traditional cost estimating models in the Ghanaian construction industry, as evident of this will help in policy formulation for the improvement cost estimating practices.

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