Optimal cost estimation for improvement of product design

Hong Chul Lee, Jaemyung Lee

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

While the concepts of design for manufacturability and concurrent engineering have made significant advances in integrating the design function with other areas in companies, major gaps remain in the timely and accurate provision of costing information to designers. Inappropriate design could increase the redesign cost and delay the product realization. This present 3-step research aims to reduce the design cost of the product. The first step sets up the optimal cost, which is the engineering target based on the function. The second step estimates the current function cost according to the unit through the function and quantitative analysis for the basic model. In the third step, the design of a unit is reviewed according to the priority of the difference between the optimal cost and the function cost. Arranging the unit design parameters, the best design option is set up according to the level. Significance: The cost improvement becomes a more realistic by presenting the optimal cost for design and production. This induces the product design that incorporates the ideal cost of applying the optimal cost of engineering target as a medium.

Original languageEnglish
Pages (from-to)232-243
Number of pages12
JournalInternational Journal of Industrial Engineering : Theory Applications and Practice
Volume18
Issue number5
Publication statusPublished - 2011 Dec 5

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Keywords

  • Cost Engineering
  • Cost Estimating
  • Design for Cost
  • Design of product

ASJC Scopus subject areas

  • Industrial and Manufacturing Engineering

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