Quoting by Experience? Put That Knowledge into Cost Estimating Software
WEST SPRINGFIELD, Mass., June 2, 2021 /PRNewswire/ -- The majority of manufacturers estimate and quote by experience, relying on an individual or two who have years of tribal knowledge. When the estimating duties rely on experience alone, you are setting up for failure. Employees can get sick, move on to other jobs, or eventually retire. Unfortunately, these things can happen unexpectedly, leaving a shop scrambling to fill the void and the critical knowledge the person carries within them. The result can be devastating.
Technology is Here to Help. A database driven cost estimating software program enables job shops, sheet metal fabricators and machine shops to capture the tribal knowledge that experienced estimators have and store it in a database. This data will be the cornerstone to configuring and estimating system that will consistently generate fast, accurate cost estimates and quotes, now and into the future. Estimating software provides multiple benefits to an organization, including,
- Speed – Estimating software can increase a company's quoting throughput by as much as 90%. The more advanced estimating systems utilize 3D CAD file data and can integrate with ERP systems, which can greatly enhance the entire quoting process.
- Accuracy – It is not in the eye of the beholder, it is in the database. Database driven estimating software relies on repeatable, formula driven cost models for calculating cycle times. The accuracy comes from the data driving the numbers, not any individual's opinion.
- Consistency – Using formula driven methods to calculate cycle times standardizes the estimating process, producing consistent estimates, no matter what day it is, who is using it or how they feel that particular day.
It's Never Too Late.
It is a tough situation when an indispensable, experienced employee suddenly becomes unavailable or decides to move on. Do yourself a favor and plan ahead. There are software tools available to help smooth the transition. Don't wait until disaster strikes. Be prepared and standardize your quoting process before it is too late.
About MTI Systems, Inc.
Established in 1982, MTI Systems is a leading provider of cost estimating software for the manufacturing industry. The company is headquartered at 1111 Elm Street, Suite 6, West Springfield, MA 01089. Additional information regarding MTI Systems is available at www.mtisystems.com.
SOURCE MTI Systems, Inc.
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