Additionally, aPriori said it will integrate its cost management platform with technology from PTC, a provider of product lifecycle management (PLM) software, in an attempt to provide manufacturing companies utilizing PTC technology with access to real-time product cost information early in the product development process.
The company intends to address manufacturers’ concerns about cost estimation and control by identifying quantifiable savings in material, tooling, labor and overhead while evaluating alternative designs, processes and sources.
Traditional cost estimation techniques are time-intensive and immediately invalidated whenever a design, manufacturing, or procurement assumption is changed, said Michael Philpott, founder of aPriori. aPriori’s real-time, CAD-integrated cost management platform empowers designers, manufacturing engineers, procurement professionals, and management to make informed decisions to reduce, avoid, or recover product costs at any stage of the product lifecycle.
