Automated feature-based analysis for cost management of direct materials
OwnerJ. Alan Stacklin, Stephen G. Eick +1inventors
InventorsJ. Alan Stacklin, Stephen G. Eick, Brett Holland
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Abstract
A system and method for managing costs of a target part is presented. The system and method entails five steps. First, the system and method provides features characteristics information of the target part. Second, system and method provides financial information related to the target part. Third, the system and method provides purchasing demand information related to the target part. Fourth, the system and method analyzes the features characteristics data, financial information, and purchasing demand information. Finally, the system and method compares the target part should cost to a supplier's price of the target part to determine cost saving opportunities.
Claims45
A method of managing costs of a target part comprising the steps of:
- a) providing features characteristics information, of the target part;
- b) providing financial information related to the target part;
- c) providing purchasing demand information related to the target part;
- d) analyzing the features characteristics data, financial information, and purchasing demand information;
- e) comparing the target part should cost to a supplier's price of the target part to determine cost saving opportunities.
A method of managing costs of a target part comprising the steps of:
- a) providing features characteristics data of the target part;
- b) providing financial information related to the target part;
- c) providing purchasing demand information related to the target part;
- d) analyzing the features characteristics data, financial information;
- and
- e) determining from said analysis a prediction of cost drivers for the family of parts.
A method of determining machined parts similar to a target part comprising the steps of:
- a) provide pre-determined variables relating to features characteristics of the similar parts;
- b) assigning the pre-determined variables as feature vectors;
- c) defining said vectors as points in a feature space;
- d) defining a reference point in said feature space based upon the target part;
- e) normalizing each point in a feature space;
- and
- f) calculating the distance between the points representing the similar parts and the reference points using a distance metric.
A method of managing costs by evaluating suppliers of a target part comprising the steps of:
- a) providing at least one part produced by at least one source;
- b) calculating a range of values for at least one predetermined part source category for the at least one part of the at least one source;
- c) comparing part source category values of a target part to the calculated values for the at least one predetermined category for the at least one part of the at least one source;
- and
- d) calculating a fit rating for said source based on said comparison.
A method of managing costs of a target part including the steps of:
- a) loading data as to target part features characteristics information, financial information, demand information and source information;
- b) performing model fitting algorithms with the loaded data;
- c) eliminating extreme statistical data;
- d) extracting said data from a database and loading said data into an analytical engine;
- e) performing the following model fitting algorithms analysis including:
- (i) calculating a should cost for the target part;
- (iii) calculating cost drivers;
- (iv) performing a nearest neighbor analysis;
- and
- (v) performing a sourcing analysis;
- f) exporting and storing the analytical results to a relationable database.
A method of managing costs of a target part comprising the steps of:
- a) providing features characteristics information, of the target part;
- b) providing financial information related to the target part;
- c) providing purchasing demand information related to the target part;
- d) analyzing the features characteristics data, financial information, and purchasing demand information;
- e) determining from said analysis a prediction of what the target part should cost;
- and
- f) comparing the target part should cost to a supplier's price of the target part to determine cost saving opportunities.
A method of managing costs of a target part comprising the steps of:
- a) extracting at least one predefined cost predictive features variable selected from the group consisting of financial, purchasing and feature information;
- b) analyzing the features characteristics data, financial information, and purchasing demand information;
- c) determining from said analysis a prediction of what the target part should cost;
- and
- d) comparing the target part should cost to a supplier's price of the target part to determine cost saving opportunities.
A system for managing costs of a target part comprising:
- a display screen for displaying information, wherein the information is stored in one or more fields, said display screen being configured to permit selection of the one or more fields;
- a readable medium coupled to the display screen;
- a microprocessor coupled to said readable medium, said microprocessor programmed with instructions for manipulating the information;
- and
- a cost management system further comprising the steps of:
- a) providing features characteristics information, of the target part;
- b) providing financial information related to the target part;
- c) providing purchasing demand information related to the target part;
- d) analyzing the features characteristics data, financial information, and purchasing demand information;
- e) comparing the target part should cost to a supplier's price of the target part to determine cost saving opportunities.
Dependencies are inferred from the claim text.