Blog | Costimator | MTI Systems

In an intensely competitive marketplace, the success of every sheet metal fabricator rests on the speed, precision, and consistency of their estimating process. This is where Costimator, brimming with Harnessing the Power of Industry-Validated Sheet Metal Fabrication Cost Models , fundamentally changes the game. 

Validated by sheet metal fabrication industry veterans, these standardized cost models offer unprecedented levels of accuracy, enabling businesses to confidently quote competitively while ensuring profitability. What’s truly groundbreaking about Costimator’s cost models is their ability to standardize and accelerate the estimating process. This, in turn, empowers businesses to submit more quotes, seize lucrative opportunities, and consequently, hike up their profit margins. 

Sheet Metal Fabrication Cost Models 

Offering a wide-ranging selection of cost models, Costimator is specifically designed to cater to the diverse needs of the sheet metal fabricating industry. From stamping, bending, and shearing to laser cutting and forming, these pre-engineered cost models cover all bases. 

In addition, the adoption of these industry-validated cost models in the sheet metal fabricating industry signifies a breakthrough, shifting from laborious, hit-or-miss estimation methods towards streamlined, dependable approaches. Capitalize on the Costimator’s cutting-edge cost models and redefine how you win jobs, boost profits, and outpace the competition.

Pioneering Tool in Manufacturing Estimation

Costimator, a pioneering tool in manufacturing estimation, simplifies the process of estimating costs associated with sheet metal parts and assembly. Equipped with hundreds of fabrication process cost models, it revolutionizes the way companies evaluate their manufacturing expenses. The real game-changer in Costimator is its 3Dfx tool which offers an innovative functionality for users with 3D models. 

The 3Dfx tool enables automated generation of manufacturing routings and cycle times, thereby maximizing efficiency and minimizing possibilities of human error. However, this feature not only streamlines the task at hand but also guarantees accuracy and precision in the estimates derived. The tool also eliminates the laborious process of manual data entry for cost models. This automated process not only saves considerable time but also ensures that high estimation accuracy is maintained without the risk of manual input errors. 

To sum it up, Costimator with its exhaustive range of cost models and the dynamic 3Dfx tool largely simplifies the task of cost estimation. It leaves no room for ambiguity, making it a highly dependable tool for manufacturing companies globally. It’s not just a tool; it’s a path to improved efficiency and profitability. Contact MTI Systems for more information. Be sure to visit MTI Systems’ Facebook page.

In the highly competitive landscape of manufacturing, accurate and timely cost estimating and quoting are essential for success. The traditional methods of manual calculations and spreadsheets are no longer sufficient to meet the demands of modern manufacturing businesses. This is where cost estimating software steps in, revolutionizing the estimating and quoting processes. In this article, we will explore how cost estimating software significantly enhances estimating and quoting process for manufacturers, providing them with a competitive edge in the industry.

Enhanced Accuracy and Consistency

One of the primary benefits of cost estimating software is its ability to deliver accurate and consistent estimates. These software solutions leverage extensive databases of material costs, labor rates, and equipment expenses, eliminating the need for manual research and calculations. By automating these processes, manufacturers can significantly reduce the risk of human errors and inconsistencies. With reliable and consistent estimates, businesses can build trust with their customers. As always, you should avoid underquoting or overpricing, and ensure that projects are executed within the allocated budget.

Time Savings and Efficiency

Without a doubt, time is of the essence in the manufacturing industry. And, cost estimating software helps manufacturers save valuable time throughout the estimating and quoting processes. Instead of spending hours or even days manually preparing quotes, manufacturers can generate accurate estimates within a fraction of the time. The software streamlines the entire process, automating calculations, and providing pre-built templates and customizable features. By reducing time spent on estimating and quoting, manufacturers can allocate more resources to core business activities, such as production, customer service, and innovation.

Flexibility and Customization That Enhances Estimating and Quoting Process

Cost estimating software offers manufacturers a high level of flexibility and customization. Manufacturers can tailor the software to suit their specific needs, incorporating industry-specific parameters, pricing models, and project requirements. This flexibility allows businesses to create estimates and quotes that align precisely with their capabilities, pricing strategies, and customer expectations. The software’s customization features also enable manufacturers to include additional costs such as overhead, profit margins, and any special requirements, ensuring that their quotes are comprehensive and transparent.

Centralized Data and Version Control

Effective management of data and version control is crucial in the estimating and quoting processes. Above all, cost estimating software provides manufacturers with a centralized platform to store and manage all project-related data, including materials, labor rates, and historical cost information. This centralized repository ensures that all stakeholders have access to the latest and most accurate data, minimizing the risk of miscommunication and errors caused by working with outdated information. The software also allows for efficient version control, making it easy to track and compare revisions, ensuring transparency and accuracy throughout the quoting process.

Integration and Collaboration

Manufacturers often collaborate with various teams, including sales, engineering, and production, during the estimating and quoting processes. Cost estimating software facilitates seamless integration and collaboration between these teams. The software can integrate with other business systems, such as customer relationship management (CRM) or enterprise resource planning (ERP) systems, to streamline workflows and ensure accurate data exchange. This integration improves communication, minimizes errors, and accelerates the overall estimating and quoting processes.

Cost estimating software has become an indispensable tool for manufacturers seeking to improve their estimating and quoting processes. By harnessing the power of automation, accuracy, and customization, these software solutions enable manufacturers to generate accurate estimates, save time, and deliver compelling quotes to their customers. Embracing cost estimating software empowers manufacturers to enhance efficiency, increase profitability, and gain a competitive advantage in the dynamic world of manufacturing.

Learn more about Costimator.

Boosting Efficiency, Reducing Costs, and Securing Job Bids for Machining and Fabrication Companies using the Power of Cost Estimating Software for Manufacturing

In today’s highly competitive manufacturing industry, staying ahead requires precision, speed, and accuracy. Machining and fabrication companies face the constant challenge of delivering quality products within tight deadlines and budgetary constraints. However, the key to success lies in effectively estimating costs, managing time, and securing job bids. This is where the power of cost estimating software for manufacturing plays a pivotal role. By harnessing the power of advanced technology, these software solutions have revolutionized the industry, providing invaluable benefits that enhance efficiency, reduce costs, and increase the chances of winning job bids. In this article, we will delve into the reasons why cost estimating software has become an indispensable tool for machining and fabrication companies.

Enhanced Accuracy and Speed to Discover the Power of Cost Estimating Software for Manufacturing

Gone are the days of relying solely on spreadsheets and manual calculations for cost estimation. The introduction of cost estimating software has significantly improved accuracy and speed in the estimation process. These sophisticated tools utilize built-in databases of materials, labor rates, and equipment costs, eliminating the need for tedious research and repetitive data entry. With just a few clicks, manufacturers can generate detailed and accurate estimates, reducing the chances of errors and miscalculations. This efficiency not only saves time but also ensures that estimations are precise, instilling confidence in clients and enabling businesses to meet or exceed customer expectations.

Real-Time Project Insights

Cost estimating software provides manufacturing companies with real-time insights into project costs, labor requirements, and material quantities. This alone is a power of cost estimating software for manufacturing, but there is much more. By capturing and analyzing historical data, these software solutions enable businesses to make informed decisions, optimize resources, and identify potential areas of improvement. With access to accurate data at their fingertips, managers can monitor project progress, identify cost overruns, and implement corrective measures promptly. This real-time visibility allows businesses to streamline operations, allocate resources more effectively, and make data-driven decisions to deliver projects on time and within budget.

Streamlined Collaboration and Communication

Effective collaboration and communication are critical in the manufacturing industry, where multiple stakeholders, such as project managers, engineers, and procurement teams, work in unison. Cost estimating software facilitates seamless collaboration by providing a centralized platform for sharing project data, estimates, and revisions. This fosters better communication, minimizes misinterpretations, and ensures everyone is working with the latest information. By streamlining collaboration, machining and fabrication companies can reduce delays, resolve conflicts efficiently, and maintain a smooth workflow throughout the project lifecycle.

Competitive Bidding Advantage

In the highly competitive landscape of manufacturing, winning job bids is often the key to business growth and success. Cost estimating software empowers companies to create accurate and compelling bids by providing detailed cost breakdowns and comprehensive project proposals. The software’s ability to generate precise estimates quickly gives companies a competitive advantage, enabling them to submit bids promptly while adhering to client requirements and budgets. By presenting clients with detailed and transparent estimates, manufacturing companies can instill confidence, showcase their professionalism, and increase their chances of winning lucrative contracts.

Improved Cost Management

Cost estimating software not only assists in the initial estimation process but also facilitates ongoing cost management throughout the project. These tools enable businesses to track actual costs against estimates, monitor variances, and adjust budgets accordingly. By identifying cost-saving opportunities and controlling expenditures, manufacturing companies can maximize profitability and deliver projects within the allocated budget. The software’s reporting capabilities also help in providing detailed cost breakdowns to clients, enhancing transparency and trust between the company and its customers.

Conclusion

In the ever-evolving manufacturing industry, cost estimating software has emerged as a game-changer for machining and fabrication companies. By leveraging the power of technology, these software solutions enhance accuracy, speed up the estimation process, streamline collaboration. Learn more about how Costimator is a world class costing and quoting software for manufacturing.

FREE Tool to Calculate Shop Rate Strategy – From the Developers of Costimator

MTI Systems’ Shop Rate Calculator is a web-based application that calculates rates based on the inputs of direct labor, machine (work center) price and other factors.

Using this calculator, you can easily calculate your most competitive and profitable shop rate for any given job. You can also use this calculator to set up your own custom rate by inputting all the relevant information in the fields provided.

It is a powerful and easy-to-use tool that helps you calculate shop rate strategy, the optimum rate for your shop. Get ahead of your competition, add price conscious shop rate to each process.

Most manufacturing suppliers choose to use a flat (across the board) shop rate for all manufacturing processes. This can cause problems for manufacturers who have processes that are more or less expensive than other processes they offer.

Shop Rate Calculator helps manufacturers be more competitive by better understanding shop rates as well as offering increased profitability. 

Identify separate shop rates for each manufacturing process using Shop Rate Calculator. While manual calculation methods can identify unique shop rates, MTI Systems offers this free Shop Rate Calculator software to help manufacturers be more competitive. 

Download this free Shop Rate Calculator today!

To explore a data-driven, cost estimating software, please request a demonstration of Costimator.

Hey, stop using old, outdated methods or guessing and start estimating! When determining manufacturing time and costs, you need an estimation process that’s accurate and fast. But, still matches the manufacturing process.

Feature-based Cost Estimation

Our Feature-based costing is the most accurate, consistent, and therefore, the fastest way to estimate costs for parts.

Feature-based cost estimation is a standard engineering method with procedures that closely match the machining process. In addition, it starts by finding a reference feature which is a common part of both the estimate and the manufactured part. The estimates are derived from similar parts or processes. Thus, by using standard machine times for each operation in the sequence of operations to make the estimate.

Determining Manufacturing Time and Costs with Time Saving Software

Costimator is a time-saving software that helps you calculate accurate labor time requirements for your production process. However, it comes with an arsenal of powerful feature calculators you are going to find very valuable. Above all, this makes it easy to determine which machine tool, cutting speed, machining strategy or production method is best for the job.

Stop Wasting Time & Money on Inaccurate Estimate

Say goodbye to hours of tedious calculations and say hello to Costimator!

You will rest assured that Costimator has a feature or cost model for machining and fabrication. Including, manufacturing, including automotive, aerospace, manufacturing, machine shops, industrial suppliers, and many others.

Don’t waste time on inaccurate estimation methods.

Find out how you can get started with Feature-based cost estimation, therefore, you will get accurate, fast estimates with methods closely matching your manufacturing process. It is time for you to get started today to gain more profit and less errors.

With Costimator and determining manufacturing time and costs, you will estimate costs in a fraction of the time. In other words, you will be possibly save millions in labor costs every year. If you can’t afford longer lead times or are tired of watching profits slip through your fingers because you’re over-priced, then use Costimator to eliminate guesswork from your estimating process.

Contact us for more information on how feature-based cost estimation can speed up the process and cut costs, please contact us or call: 413-733-1972.

View Costimator Demo – Estimate a Part – Get Pricing

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MTI Systems, Inc.
1111 Elm Street, Suite 6
West Springfield, MA 01089 USA

Estimating Software Misconceptions – There is a misconception that estimating software in manufacturing is a one-size-fits-all product. It’s one of the most common challenges we face when working with manufacturers and it continues to grow as technology in general gets smarter and more automated. For instance, some have an expectation that an estimating software should generate accurate times and cost for their company right out-of-the-box.

In catering to everything from small job shops to Worldwide OEMs, all working in a wide variety of industries requiring different materials/manufacturing processes, there are not enough constants to allow for accurate costing of parts for all these companies. As pricing models change in manufacturing and operations, new challenges arise for critical cycle times. 

While it’s easy for some companies to be reactive and update their estimating solutions as prices change, but for other companies their process is more complicated. Because, they need Costimator – an estimating solution tailored specifically to their factory needs.

Find the Competitive Edge

 Manufacturing is more competitive than ever before. By automating the estimating processes with Costimator you can get a competitive edge on your competitors and thus crushing the estimating software misconceptions.

The need for new, affordable, and easy-to-use solutions is greater than ever.

Manufacturers of all sizes are struggling to improve efficiency with their estimation processes. It’s difficult to know which type of software best fits your needs.

Unique Manufacturing Solutions Designed For You

Costimator provides customizable estimation solutions for any size company. Because of Costimator, you still have access to an out-of-the-box solution with built-in cost models and starting points for estimating your parts without spending additional money on other expensive software packages.  

To generate accurate numbers, it requires some shop specific parameters be entered or available to calibrate to. Therefore, with a database driven estimating software, you now have the opportunity to create accurate estimates consistently, and quickly.

Effortlessly create accurate estimates that are specific to your unique needs!

View Costimator Demo – Estimate a Part – Get Pricing

Or, call: 413-733-1972

MTI Systems, Inc.
1111 Elm Street, Suite 6
West Springfield, MA 01089 USA