Free guide aids estimating costs calculation

For those involved in batch production or prototyping, a free guide features an easy-to-use table for costs and times, along with helpful hints and a 'dos and don'ts' section.

Production software specialist, PSL DataTrack, has launched a free guide for calculating hourly rates for manufacturing.

PL said that the guide is particularly useful for those involved in batch production or prototyping and features an easy-to-use table for costs and times, along with helpful hints and a 'dos and don'ts' section.

PSL told manufacturingtalk.com that it has a wealth of experience in real-cost calculations and its DataTrack software is used extensively throughout the manufacturing sector to aid organisations with production control.

The software provides the tools and information needed without the complexity or implementation costs of MRP and ERP software installations.

The calculation of costs relating to manpower, machine utilisation, administration, factory overheads and materials is at the very heart of DataTrack.

A recent exercise by PSL involved the 'benchmarking of costs' for a group of manufacturers after undertaking research on their behalf.

The research had found that the subcontractors knew little about their fixed and variable costs and were therefore unable to make informed decisions on estimating.

Managing director of PSL, Jim Kelly, said: "With competition in the industry so intense, the need for this knowledge, in order to quote accurately and maintain margins, is vital.

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