Ford estimates costs with FACTON EPC Should Costing Solution
Should Costing Solution standardizes costing for high performance companies with efficient purchased part price analyses, supplier collaboration and detailed reporting.
Potsdam, Germany, May 31, 2016. Ford Motor Company will analyze its purchased part prices with costing application FACTON EPC Should Costing. Until now, Ford has used three separate databases to estimate costs for the United States, Europe and Asia. With FACTON EPC Should Costing, collaboration of supplier should cost is centralized on a single platform which gathers and continuously updates all cost-relevant data from existing IT systems.
“FACTON EPC standardizes cost management across the enterprise. With a central database, all employees at all locations perform costing based upon uniform data while applying standardized calculation and evaluation processes and methods,” explains Alexander M. Swoboda, CEO of FACTON. “The Enterprise Product Costing (EPC) cost management method is the basis for this – and our software provides the backbone.”
Ford’s Cost Estimating department deals exclusively with purchased part price analysis. Ford’s 500+ users are located primarily in the United States, Germany, Great Britain, China, India, Mexico, and Brazil. The FACTON EPC platform ensures all colleagues worldwide have access to the most current data and currency exchange rates in the system and apply a uniform global costing methodology. Resulting in a system that enable fast decision making, business performance improvements, and traceability through accurate supplier cost calculations.
“With FACTON EPC Should Costing, purchased part price analysis is not only reliable but also very efficient,” says Ruediger Stern, President of FACTON, Inc located in Troy, MI. “There are many practical features that save time and make it much easier to manage complex cost estimates. For example, Ford estimators can easily drag and drop machines and purchased parts to add them to the cost calculation. Our user feedback is that the interface is very intuitive to use.” The software can also be used to generate reports with different levels of detail. The application can present the key cost elements of a calculation in an overview and show a detailed breakdown of all data used in the cost calculation. It is also possible to generate comparison reports.
Before choosing FACTON EPC, Ford thoroughly examined many potential providers of costing software. A three-month pilot project was then launched to test the two favorites. FACTON clearly led in the test project. “In the end Ford chose FACTON as partner because of the innovative technology and the team behind it. This especially included the modern software architecture, the excellent performance and the outstanding customer service.” remembers Swoboda.
The Should Costing solution is part of the FACTON EPC Suite, the leading software solution for Enterprise Product Costing (EPC). The FACTON EPC Suite consists of specific solutions that comprehensively address the product costing requirements of different company departments and divisions – from top management, controlling and production to development, purchasing and sales.