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Estimating manufacturing costs with AI to save thousands of hours
Jun 20, 2022
Axya has partnered with Groupe Mundial to develop a cost estimator. Thanks to this artificial intelligence tool, the two entities are revolutionizing the manufacturing world and staying at the forefront of technology.
The problem
Groupe Mundial initially detected and experienced a problem among its seven constituent industrial subcontracting manufacturing companies. To obtain contracts, these companies have no choice but to go through a process of RFQs and quotations. They have to respond to a large number of calls for tenders every day and indicate their prices and deadlines. Thus, manufacturing companies like Groupe Mundial, with their large production capacity, find themselves limited by their quotation process which is currently operated manually by a growing number of employees. Such companies can receive a large volume of RFQs and quote up to 3000 times every month. In addition, the results obtained by the traditional and manual methods are very difficult to standardize due to the heterogeneity of RFQs as well as the complexities of the quotation process.
Perfect match between Groupe Mundial and Axya
The two companies, being very complimentary, had all the necessary prerequisites for success. On one side, Groupe Mundial is a large, established company with extensive manufacturing expertise and a desire to stay ahead with new technologies. On the other side, Axya is a young agile company, with great expertise in artificial intelligence and a mission to create innovative technological tools which improve human decision-making for companies in the manufacturing industry.
The solution
Axya will therefore develop a system based on artificial intelligence, which will analyze the characteristics of a piece of sheet metal to estimate its manufacturing cost. The estimator will thus cut over 60% of the time required to quote on a part resulting from the transformation of sheet metal. In addition, the estimator will be able to improve and become more precise over time.