|Thursday, February 20|
|PS1 Poster Session I & Opening Mixer||
Thu, Feb 20, 5:15 PM - 6:45 PM
Neural Network Based Pricing Models for Up-Front Customer Engagement (302831)*Steven Reagan, L&L Products
Keywords: Artificial Neural Networks, Cost Modeling, Price Estimation, Multivariate Regression, Dimensional Reduction
Traditionally suppliers rely on quote requests and continual professional engagement to indicate the opportunity for quoting part and service pricing to OEMs. With the continual pressure to reduce conception to market presence, design and manufacturing integrity has grown in importance. Specifically, the speed and accuracy with which a component price can be delivered has been seen to have great value to manufacturers. This poster will highlight a particular instance of price quote estimation using early design stage information previously thought of little value to deliver final pricing quotes within 5% of final quotes at time of manufacturer. Artificial neural networks are developed using up-front design information as input and found to be portable to customer based desktop environments. This solution was found to be highly valued by L&L's largest customers and has enabled dramatic increases in dedicated sales.