F84: Estimating and Job Costing in an Ever-Changing Environment

In today’s fiercely competitive manufacturing landscape, the ability to precisely estimate production costs can be the decisive factor between success and failure. Estimating job or service costs demands a comprehensive grasp of the part, production history, time requirements, and associated labor and material expenses. Accurate identification of these costs is crucial for aligning each production order with the company’s business model and profit margins. While traditional methods like legacy knowledge, pen and paper, spreadsheets, and printed documents have been mainstays for decades, they are no longer sufficient in our ever-evolving market. Attendees will have the opportunity to explore how technology continues to pave the way for enhanced efficiency and heightened competitiveness in the future of manufacturing, by streamlining the process of calculating job costs and estimates.