11 Case-Based Reasoning
Rapid cost estimation of mass-customized products
Naken
Wongvasu, Sagar V. Kamarthi and Ibrahim Zeid
Department of Mechanical, Industrial, and Manufacturing Engineering, Northeastern
University, Boston, MA, USA
The ability to generate a quick
and accurate quotation brings a significant advantage to mass-customized
production companies. Cost estimation is essentially a process that attempts
to predict the final cost of a product, even though not all of the manufacturing
parameters and conditions are known when the cost estimation is prepared.
This chapter presents a case-based reasoning methodology for rapid and
accurate estimation of cost of mass-customized products. Unlike existing
parametric cost estimation techniques that compute an estimate based on
a mathematical relationship between product specification and cost, this
approach uses case-based reasoning to model the relationship between product
configuration, resources requirement, and costs. Empirical results show
that this approach produces reasonably accurate quotes. Thus, we contend
that case-based reasoning approach hold a good promise for providing rapid
and effective response to customers' request for quotation.
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