Approximate Estimation of the Product Life Cycle Cost Using Artificial Neural Networks in Conceptual Design

2002 ◽  
Vol 19 (6) ◽  
pp. 461-471 ◽  
Author(s):  
K.-K. Seo ◽  
J.-H. Park ◽  
D.-S. Jang ◽  
D. Wallace
Keyword(s):  
Neural Networks ◽  
Artificial Neural Networks ◽  
Life Cycle ◽  
Conceptual Design ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Product Life ◽  
Approximate Estimation ◽  
Artificial Neural

scholarly journals Comparison of Product Life Cycle Cost Estimating Models Based on Neural Networks and Parametric Techniques—A Case Study for Induction Motors

2020 ◽  
Vol 12 (20) ◽  
pp. 8353
Author(s):  
Zbigniew Leszczyński ◽  
Tomasz Jasiński
Keyword(s):  
Neural Networks ◽  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Parametric Estimation ◽  
Percentage Error ◽  
Product Life ◽  
Technical Specifications ◽  
The Cost

The cost estimation of a product’s life cycle is a key factor in the product design process. The research is based on an innovative model of artificial neural networks (ANNs) compared to a parametric estimation. Introducing modern elements of information technologies in the area of cost estimation for a production company is a vital element of its sustainability in the era of Industry 4.0. The presented modern product life cycle cost estimation tool in the form of ANN is a reliable source of forecast that is the basis for the product life cycle cost reduction program, which is a crucial element of sustainability. Research shows that ANNs are a viable alternative to parametric cost estimation. The percentage error between estimated and historical cost values is 8.05 times lower for ANN than for the parametric approach. ANN is an adequate cost estimation model for technologically complex products. The second contribution is using technical specifications required by the customer directly to estimate the cost of a product’s life cycle automatically. This can translate both into a reduction of the time needed to provide information to the client and the workload of engineers.

scholarly journals Artificial neural networks incorporating cost significant Items towards enhancing estimation for (life-cycle) costing of construction projects

2013 ◽  
Vol 13 (3) ◽  
pp. 51-64 ◽  
Author(s):  
Ayedh Alqahtani ◽  
Andrew Whyte
Keyword(s):  
Neural Network ◽  
Neural Networks ◽  
Artificial Neural Networks ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Construction Projects ◽  
Back Propagation ◽  
Neural Network Models ◽  
Artificial Neural ◽  
Excel Solver

Industrial application of life-cycle cost analysis (LCCA) is somewhat limited, with techniques deemed overly theoretical, resulting in a reluctance to realise (and pass onto the client) the advantages to be gained from objective (LCCA) comparison of (sub)component material specifications. To address the need for a user-friendly structured approach to facilitate complex processing, the work described here develops a new, accessible framework for LCCA of construction projects; it acknowledges Artificial Neural Networks (ANNs) to compute the whole-cost(s) of construction and uses the concept of cost significant items (CSI) to identify the main cost factors affecting the accuracy of estimation. ANNs is a powerful means to handle non-linear problems and subsequently map between complex input/output data, address uncertainties. A case study documenting 20 building projects was used to test the framework and estimate total running costs accurately. Two methods were used to develop a neural network model; firstly a back-propagation method was adopted (using MATLAB SOFTWARE); and secondly, spread-sheet optimisation was conducted (using Microsoft Excel Solver). The best network was established as consisting of 19 hidden nodes, with the tangent sigmoid used as a transfer function of NNs model for both methods. The results find that in both neural network models, the accuracy of the developed NNs model is 1% (via Excel-solver) and 2% (via back-propagation) respectively.

Reliability-based life-cycle cost design of asphalt pavement using artificial neural networks

2020 ◽  
pp. 1-15
Author(s):  
Jiyu Xin ◽  
Mitsuyoshi Akiyama ◽  
Dan M. Frangopol ◽  
Mingyang Zhang ◽  
Jianzhong Pei ◽  
...  
Keyword(s):  
Neural Networks ◽  
Artificial Neural Networks ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Asphalt Pavement ◽  
Artificial Neural

Applying Life Cycle Six Sigma in Tolerance Design Methodology

2012 ◽  
Vol 443-444 ◽  
pp. 881-887
Author(s):  
Jian Jun Wu ◽  
Yi Zhen Wang
Keyword(s):  
Life Cycle ◽  
Six Sigma ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Quality Characteristic ◽  
Quality Level ◽  
Manufacturing Cost ◽  
Tolerance Design ◽  
Product Life ◽  
Sigma Level

Setting of tolerances to meet a required specification of quality characteristic and keep low manufacturing cost is one of common problems in the process quality control. But generally traditional tolerance design only focus on cost of manufacturing, few consider product Life Cycle Cost. In these situations, to obtain a satisfactory six sigma quality level as well as keep lower life cycle total cost should be considered. This paper expands tolerance optimization based on the manufacturing cost to the product life cycle cost, which can improve product quality to the six sigma level and keep lower LCC simultaneously.

Life Cycle Cost Modeling of Pumps Using an Activity Based Costing Methodology

2010 ◽  
Author(s):  
Laxman Yadu Waghmode ◽  
Anil Dattatraya Sahasrabudhe
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Business Environment ◽  
Life Cycle Costing ◽  
Activity Based Costing ◽  
Global Business ◽  
Product Life ◽  
Traditional Costing ◽  
The Cost

In order to survive in today’s competitive global business environment, implementation of life cycle costing methodology with a greater emphasis on cost control could be one of the convincing approaches for the manufacturing firms. The product life cycle costing approach can help track and analyse the cost implications associated with each phase of product life cycle. Life cycle costing (LCC) practices with traditional costing methods may provide results that have a severe deviation from the real product LCC as it focuses on the cost of materials, labor and a low portion of overheads apportioned by the absorption rate to the product. Activity based costing (ABC) has emerged as one of the several innovative and more accurate costing methods in recent years. It is based on the principle that products or services consume activities and activities consume resources that generate costs. Thus, the ABC system focuses on calculating the costs incurred on performing the activities to manufacture a product. This paper presents a LCC modeling approach for estimating life cycle cost of pumps using activity based costing method. The study was conducted in a large pump manufacturing company from India that has significant global standing within its industry. Firstly, all the activities and cost drivers associated with the life cycle of a pump have been identified. A methodology for LCC analysis using ABC is then developed and it is applied to two different pumps manufactured by the same industry and the results obtained are presented.

scholarly journals THE IMPACT OF PRODUCT LIFE CYCLE TECHNIQUE IN REDUCING COSTS AND ACHIEVING SUSTAINABLE DEVELOPMENT GOALS, A CASE STUDY IN THE RUSTAN STEEL STRUCTURE PRODUCTION COMPANY IN ERBIL

2021 ◽  
Vol 03 (07) ◽  
pp. 314-328
Author(s):  
Ghazi Abdulazeez SULAIMAN BAG ◽  
Rafiq Faraj MAHMOOD
Keyword(s):  
Corporate Governance ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Steel Structures ◽  
Product Life ◽  
Technical Requirements ◽  
The Cost ◽  
The Impact

This research was - case study in Rstin company for the steel structures in Erbil- addressed the cost technique of product life cycle, as discussed the kinds, relevance and the stages of the life cycle of the product, also it referred to the corporate governance of discussing its inception the concept and importance of the principles, objectives, and mechanisms was addressed to the technical aspects of the overlap between the cost of the product life cycle corporate governance and show the appropriate techniques used in each stage of the life cycle of the product and how it achieved by a reduction of costs. The result of this study indicates that the integration between the product life cycle cost and corporate governance works on reduce costs through the various stages of product life cycle. It also concluded that this integration increases the company ability to compete in market which leads to rise in its market share and eventually lead to maximize the profit which has been achieved through the optimal use of a company available resources. It also found that the techniques of life cycle cost of the product cannot be applied without support of the company directors, throughout the technical requirements of the application. Corporate governance ensures directors of the company to utilize firm resources which makes the company to achieve several stakeholders' objectives.

scholarly journals Considering Product Life Cycle Cost Purchasing Strategy for Solving Vendor Selection Problems

2019 ◽  
Vol 11 (13) ◽  
pp. 3739
Author(s):  
Chien-Wen Shen ◽  
Yen-Ting Peng ◽  
Chang-Shu Tu
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Product Life Cycle ◽  
Economies Of Scale ◽  
Rejection Rate ◽  
Life Cycles ◽  
High Tech ◽  
Vendor Selection ◽  
Product Life ◽  
Strategic Relationships

The framework of product life cycle (PLC) cost analysis is one of the most important evaluation tools for a contemporary high-tech company in an increasingly competitive market environment. The PLC-purchasing strategy provides the framework for a procurement plan and examines the sourcing strategy of a firm. The marketing literature emphasizes that ongoing technological change and shortened life cycles are important elements in commercial organizations. From a strategic viewpoint, the vendor has an important position between supplier, buyer and manufacturer. The buyer seeks to procure the products from a set of vendors to take advantage of economies of scale and to exploit opportunities for strategic relationships. However, previous studies have seldom considered vendor selection (VS) based on PLC cost (VSPLCC) analysis. The purpose of this paper is to solve the VSPLCC problems considering the situation of a single buyer–multiple supplier. For this issue, a new VSPLCC procurement model and solution procedure are derived in this paper to minimize net cost, rejection rate, late delivery and PLC cost subject to vendor capacities and budget constraints. Moreover, a real case in Taiwan is provided to show how to solve the VSPLCC procurement problem.

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