Transforming Equipment Manufacturing with AI-Powered Costing

A top 10 multinational equipment manufacturer specializing in assemblies, systems, and supply chain services.

Challenge

The client aimed to reduce the Time-To-Quote from ten weeks to two by automating the manual component costing process.

The solution in use was utilizing manual costing based on the experience gained in the domain and the company with the assistance of third party software that helped to configure part and compare it with similar parts thus providing more or less accurate results.

Solution

We conducted a comprehensive analysis of the Client’s current business processes, engaging with both business and end users to identify key challenges and evaluate existing software solutions. Additionally, we performed a competitive analysis to assess alternative solutions available in the market.

We designed an AI/ML-powered solution that leveraged client data to enhance costing precision and significantly reduce processing time. Third-party integrations with existing software enabled cross-verification, further boosting accuracy and confidence.

Business value provided

• Reduced component costing time and costing precision.
• Optimized and automated the Time-To-Quote process.
• Increased the percentage of successfully completed quotes.
• Enhanced company’s competitive position.
• Increased Quote Win Rate.