For a company that designs and manufactures custom valves for the oil & gas sector with always different requirements in terms of size, shape, strength and operational constraints, It is essential that upon arrival of a new request respond with an accurate quote in the fastest time possible.
Description and Benefits
To get an accurate quote, Moxoff has leveraged the company’s historical data on valves made in the past. Using this information we have created data-driven models to estimate, for each component, both the costs associated with the raw materials and those linked to all the processes involved, from assembly to the final treatment phases. The more historical data is assimilated into the new project, the more accurate the estimate becomes.
Thanks to the user-friendly interface, a new estimate can be made in just a few minutes, compared to the many hours that were needed using a manual procedure.
The model has been developed so that in the future it will be possible to associate the costs of materials, transport and machining to each specific supplier, making it possible to obtain, with a simple click, an immediate and direct comparison of the costs associated with each machining operation based on the chosen partner.
This extension of the model extends its nature as a forecasting tool, allowing it to become a real cost optimisation tool for identifying in advance both the supplier and the conditions which, taken as a whole, represent the most interesting choice in terms of economics, quality and timing.
- Fast quotation, it is possible to obtain an estimate in a few minutes compared to the hours previously needed
- Estimation new components, thanks to the estimation models it is also possible to estimate new valves that have never been manufactured before
- Design support, the most similar past orders can be extracted from historical data, giving designers useful references to use once a new order has been obtained