Cost estimation support tool for vertical high speed machines based on product characteristics and productivity requirements

Guillem Quintana and Joaquim Ciurana

International Journal of Production Economics, 2011, vol. 134, issue 1, 188-195

Abstract: This work concerns a machine tool selection problem, which consists of selecting the most suitable machine to satisfy manufacturing company requirements. The main goal of this work is to develop a cost estimation support tool for vertical high speed machining centres based on final part and productivity requirements of the company linked with machine tool characteristics available in the catalogues in order to apply the cost model and to calculate machine tool cost estimations. The cost model presented is based on multiple regression analyses and provides reasonably accurate market cost predictions. Applying the proposed cost model will help the user to determine the approximate market cost of the machine and can be especially interesting for decision makers in the preliminary stages of a selection process because it avoids long and costly studies.

Keywords: Decision; making; Cost; Multiple; regression; analysis; Milling; machine (search for similar items in EconPapers)
Date: 2011
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