For commercial success of any product, designed for mass production, Cost plays a very important role. Cost modelling is a critical decision making tool which helps in taking decisions that will effect the profitability of the overall organisation.
An easy to use and accurate cost modelling empowers the decision maker with critical information and makes decisions easier to make with higher quality and certainty.
Due to the growing complexity of products and processes, and the ever-increasing pressure on performance improvement motivated by tighter competition, Cost estimation techniques have gained importance over the years. This also ensures Concurrent Engineering and reduces the cycle time at a later stage in the product design and development.
Satyam Venture uses its vast experience and expertise in the application of Cost modelling techniques and uses the knowledge of domain experts in the assessment. All the inputs incurred into the cost of the final product such as., overall volume, plant efficiency, material cost, scrap value, operation, part complexity, tolerances, machine specifications, setup rate, die life, cycle time, idle time, setup cost, finishing operations cost, labour cost etc., will be considered to calculate the final cost of the product.
Few of the situations where Customers look for Cost modelling Support are
- Product design and development, wherein a decision has to be taken between alternate processes
- Bench marking of the competitor’s products
- Selling of a concept
- Purchase negotiations
- Deciding the cost of a product