Cost estimation for sheet metal parts using multiple regression and artificial neural networks: A case study

An Accuracy Investigation of Product Cost Estimation in Automotive Die Manufacturing

“…During the past decade, researchers developed feature-based methods, which are more recently being advanced through case-based reasoning. However, a more structured classification of cost estimation methods is described by Verlinden based on the underlying approach of the methods, namely (Verlinden, et al, 2008):…”

“…These methods analyse objectively the similarity between the parts and, based on the resulting coefficient, determine the amount of the costs of the analysed die (Verlinden, et al, 2008).…”

“…This sort of method analyses either the production processes, the geometry of the part or the features of the die in order to aggregately calculate the overall production costs (Verlinden, et al, 2008).…”

“…The specialised literature to date states that variant-based methods should supplement generative cost estimation when design information of certain parts is not yet available (Verlinden, et al, 2008). However, by using variant-based methods to support generative cost estimation even when design data is available could significantly improve the estimate as it involves historical experience in the calculation (Layer, 2003).…”

“…Variant-based methods encompass methods that identify a similar product that has already been produced and makes use of the respectively associated cost data in order to determine the cost of the desired part/product (Agyapong-Kodua, et al, 2011;Verlinden, et al, 2008). Researchers claim analogous methods are the best-established and most-used cost estimation methods in the industry (Agyapong-Kodua, et al, 2011;Curran, et al, 2004;Shepperd, et al, 1996;Shepperd & Schofield, 1997).…”