Workshop & Masterclass 'Automatic cost estimation'

On the online platform 'Model-based processing' you can find models for performing regression analysis based on historical production cost data. This lets you draw up a cost model based on given parameters. During this workshop, we will discuss the underlying concepts in more detail and demonstrate how regression methods are used to estimate production costs.

Within our new 'model-based processing' platform we offer old, trusted models as well as the latest academic developments in the form of practice-oriented applications. In the next update of the platform, we are launching a model for linear regression, in which it is possible to achieve automated cost optimisation. By entering your own product and process data into the online model, you obtain a predictive model capable of estimating the cost associated with a new product.

Although knowing and estimating the production costs and production times of machining operations is important for ensuring correct pricing, this knowledge is obscured by the enormous complexity and of the production processes and their hidden costs. In a traditional approach, a product drawing is translated into operations, after which speeds and times are estimated. This is very time consuming and not always accurate. The use of regression analysis is an alternative approach to estimating costs and production times based on company-specific situations and historically available data. This will make connections and detect important parameters that are not always known in advance.  

This masterclass/workshop offers an overview of how to use digital tools to perform cost estimates and how to use regression analysis in machining processes.

The first session is a workshop that is also the first session of the masterclass:

Session 1: Workshop 'Getting to know the model'
8 September, 09:00 - 12:00, Sirris Diepenbeek

In this session, participants gain insight into the theoretical basis of models for estimating costs and production times. In addition, practical exercises will be organized so that participants can get a feel for how to use them. Attention is given to data preparation, transformation, and the modelling and analysis of the results.

At the end of the workshop, each participant will be able to apply the models of the online platform within their own company.

This workshop can be followed separately or as the first session of the masterclass. When registering, please indicate whether you are registering for the workshop only or for the entire masterclass.

Session 2: Masterclass session
13:00 - 14:00 : an extra moment for the masterclass participants where the next session will be explained

Session 2: ''Masterclass session: Applying the model'
Half a day at your business premises

This session takes place at your company. In it, a model is set up with the aid of historical data and refined for a specific product range.

Price

Workshop:
Flemish company: EUR 100 (excl. VAT) - other companies: EUR 250 (excl. VAT)

Workshop and Masterclass:
Flemish companies: EUR 500 (excl. VAT) - other companies: EUR 1,500 (excl. VAT)

This workshop and masterclass is organised as part of the COOCK project ’Model-based processing in which the ‘Model-based processing’ platform was developed with support from VLAIO.