Estimating and Job Costing for Industry 4.0 – The Science of Costing and the Art of Pricing
The business strategy around estimating and quoting hasn’t changed much in the last 20 years. Having spoken with over 1000 shop owners in the last 24 months, Paperless Parts is working to turn the data generated in the quoting process into a valuable resources for future business activities. This helps shops spend less time in the quoting process. Leveraging this data and automation of the administrative tasks in the quoting process, experienced machinists can spend less time engineering quotes and more time on the shop floor training the next generation. Most shops have a win rate of 20-30%. This means that 7 out of 10 quotes sent were estimating efforts that resulted in no revenue. So why are shops spending so much time over engineering estimates?
For manufacturers who:
– are looking to grow your business, but quoting is a bottleneck.
– spend too much time quoting, when it should be spent on the shop floor completing jobs and training junior employees.
– are looking for an edge to compete in an increasingly digital world.
– are interested in understanding different quoting strategies and how pricing and costing differ.
– are planning to sell or transition ownership of their business, but do not have a good way to pass on tribal knowledge.
Manufacturers can expect to:
– learn about different quoting strategies.
– see new technology that is helping job shop owners grow around the country.
– understand the competitive landscape that is forming as a result of digital buying trends.
– learn new ways to leverage geometric features to drive cost and pricing formulas.
About the Presenter:
Jason T. Ray, Co-Founder and CEO, Paperless Parts, Inc.
As a Co-founder & Chief Executive Officer at Paperless Parts, Jason focuses on driving the company’s strategic vision and building relationships with American manufactures. As an officer in the US Navy, he led the implementation of advanced and additive manufacturing technology on the Chief of Naval Operations Staff. Jason’s academic background includes a B.A. in Economics from Trinity College in Hartford, CT and an M.B.A. from Babson College, F.W. Olin Graduate School of Business.