aPriori, a provider of enterprise product cost management software solutions, has announced that its software has been selected by FMC Technologies, a leading global provider of technology solutions for the energy industry to help it optimise its product cost management efforts. The software will provide consistent, real-time cost evaluation of engineering designs and manufacturing processes to help the company identify potential costs savings, evaluate product design tradeoffs and accelerate product cycle times.
Initially, the company will deploy the aPriori product cost management software platform at its locations in Dunfermline, Kongsberg (Norway), Houston (US) and Singapore for should-cost estimating on new parts. The software leverages computer-aided design and intelligent cost models to quickly and automatically generate detailed manufacturing analysis and cost estimates and quantify the impact of changes to product design, materials, manufacturing processes, volumes and location in real time.
The software also enables users to leverage product cost data hosted in other critical enterprise applications to communicate product cost information between all functional organisations involved in product definition and delivery. This includes the import of complex engineering Bills of Materials (BOMs) from ERP, PLM or other enterprise applications. The aPriori platform also provides for highly detailed, ‘should cost’ estimates for parts and products which can be shared with suppliers to accelerate their response time and enable tighter cost collaboration and greater ongoing procurement cost savings.
“The ability to quickly evaluate the cost impact of different design alternatives, manufacturing processes and materials is a significant advantage for any manufacturer,” said Stephanie Feraday, president and CEO of aPriori. “That translates into increased innovation, faster time to market and, of course, reduced costs of goods for FMC Technologies.”