Issue 3 - Fall 2006 Newsletter
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In The News...
Costimator JS Integrates With E2 Shop System
MTI Systems, the leading provider of innovative cost estimating software solutions for manufacturing, today announced that it has integrated its flagship product, Costimator JS with Shoptech Software's E2 shop system.
Cost Estimating System Boosts Efficiency and Profits
A Texas-based precision machine shop responds to about 150 RFQs a week with many customers demanding a response in two to three days. A computer-aided cost estimating system has increased speed by 50% - 80% (versus manual), boosting the company's ability to respond and its chances of winning jobs.
Director of Manufacturing Services
Gene came to MTI Systems 2 years ago with over 30 years experience in manufacturing processes, design, estimating and sales engineering. He currently is responsible for the company's Costimator training program and heads up our ShouldCost Estimating Service department. He is a member of the SCEA (Society of Cost Estimating and Analysis).
"Being on the road working with customers gives me the opportunity to see new and different manufacturing processes and equipment. Keeping on top of changes in the way parts are being manufactured brings value to our software, which in turn benefits our customers."
In Gene's off time he enjoys playing guitar, camping, woodworking and renovating his 135 year old farmhouse with his wife, Andrea.
Did You Know...
...that in a recent survey of over 10,000 job shops and contract manufacturers regarding their current cost estimating practices, that the response was that...
64% believe they lose jobs because they overestimate what their costs will be to make the part during the quoting process?
93% believe they have lost money on jobs they've won because the actual cost of manufacturing the part was more than it had been estimated to be?
79% have failed to respond to an RFQ because they did not have time to quote it by the stated deadline?
Q: Can I create estimates in Costimator without giving everyone in the company access to them?
A: Yes, you have the option of labeling an estimate as a Private, Friend or Public part. A Private part can be seen only by the creator, a Friend part can be viewed only by those users selected by the creator and a Public part can be viewed by all users.
Q: I charge different machine rates depending on the customer I am quoting. Can Costimator calculate machine time costs based on which customer (with the rate I am charging them) I am quoting?
A: Yes, Costimator allows you to set up various shop rates for the same work center within the Work Center database. This allows the user to select the appropriate rate based on the customer they are quoting. An OEM using Costimator can do the same, as they may use various rates to calculate costs based on the supplier or the country where the parts are being made.
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"Costimator is a great cost estimating software that allows us to partner with in strategy suppliers to internally project an estimated part cost within an accuracy level of approximately 90%. Costimator has been a very large part of Jabil's quoting process since being purchased in 2003. It is currently being utilized in the Americas to respond quickly to request for quotes, to provide target pricing to suppliers and validate quotes received from the supply base. Ultimately, this tool will be utilized globally allowing us to estimate accurately and rapidly within each region."
- Kristen Housley - Cost Estimator