Machining Process Level Cost Estimation in Cutting-Tool IPSS

Abstract

Industrial product service systems (IPSSs) are special product-service packages used to improve productivity and reduce cost in the life cycle of industrial products, where cost estimation plays a very important role in price making and cost optimization. This paper defines an IPSS for cutting tools and discusses its working modes briefly. A machining process level cost estimation scheme is then proposed for the cutting-tool IPSS. An example has been developed to illustrate the proposed approach.