West Springfield, MA -- (SBWIRE) -- 06/08/2010 -- According to Thomas Charkiewicz, President of MTI Systems, (www.MTISystems.com) the leading cost estimating software firm since 1982, “Software solutions such as Costimator OEM allow companies to quickly and easily identify the cost drivers in the products they design, manufacture, and procure. This valuable information is then used to explore design alternatives and methods of manufacture that lead to lower cost products with higher profit margins.”
Manufacturing journalist, Thomas R. Cutler, recently authored a feature article for AS411.com regarding the important role of cost-estimating software in driving millions of dollars to bottom-line savings.
Many of the world’s largest and most successful manufacturing organizations need to identify part cost reduction opportunities throughout the product development lifecycle, leading to millions of dollars in cost savings.
One of the key differentiators among various cost estimating technology solutions is the scope and depth of the data library. The greater the substance of real-world manufacturing data the more valuable and accurate the software will be to the end-users. Some of the minimum metrics to expect for optimal cost estimating software data libraries include:
• 200+ Process Cost Models
• 2,500+ Work Centers
• 3,500+ Parametric Models
• 2,400+ Materials
• 3,400+ Labor & Machine Handling Standards
• Work Center Shop Rates for several dozen countries
The key to any estimating tool is the reliability of the data it contains. Charkiewicz noted that as a best of breed cost estimating solution, “Over 95% of the data residing in our database library comes from MTI customers, which includes over 1,000 suppliers and OEM’s. The accumulation of this data over the past twenty eight years is validated during system implementation and then added to the OEM database library. This information is shared with users on support through regular software updates.”
About MTI Systems
MTI Systems is the leading provider of cost estimating solutions for manufacturing, OEM’s, and Suppliers through the unique technology solution Costimator. MTI Systems offers unique Computer-Aided Cost Estimating (CACE) solutions and is proud to have implemented its solutions at over 1,200 companies with over 10,000 trained users since its inception in 1982.
MTI Systems for OEMs:
Some developers of cost estimating software offer cost estimating services as an alternative to owning and utilizing their tools in-house. MTI Systems, the leading U.S. developer of manufacturing cost estimating software created a division dedicated to cost engineering consulting for OEMs. The company’s cost estimating software products and services are being used worldwide, including Fortune 500 companies such as Caterpillar, IBM, Boeing and UTC.
Cost engineering consultants based in MTI Systems’ West Springfield, Mass. headquarters, use Costimator OEM cost estimating software to provide detailed cost estimates for clients. The technology covers hundreds of manufacturing processes including machining, fabrication, plastics, electronics and assembly. The system comes pre-loaded with average shop rates for over a dozen countries.
MTI Systems for Suppliers:
Suppliers also experience direct benefits from MTI Systems including:
Increased RFQ "Win" percentages
Reduction in Non-Profitable Jobs
Higher Profit Margins
Reduced time and expertise required to estimate
MTI Systems recognizes that both Suppliers and OEMs need to identify and understand the cost drivers in the parts they design, manufacture and procure.
MTI Systems provides vital data and reports needed to reduce manufacturing costs and increase profitability in all phases of the product development lifecycle. The information helps engineers to design parts and meet target costs. The data also provides purchasing with defendable “should cost” figures, and enables management to analyze “make” versus “buy” decisions.
MTI Systems’ experts observed lack of dependable cost data at any point in the product development lifecycle often leads to missed cost targets, delayed product launches, time consuming re-designs, higher-than necessary manufacturing costs, and ultimately, lower than expected profits.
MTI Systems, Inc.
http://www.mtisystems.com
David LaJoie
david.lajoie@mtisystems.com
VP Sales & Marketing
413-693-0617