Real-Time Costing

Real-Time Costing – a module of EPS’ comprehensive, turn-key Cost Management Suite – is a robust solution that can quickly make manufacturing locations more profitable. Real-Time Costing can be implemented in just four to eight weeks per process line, with a payback of only one to three months. Thanks to the turn-key nature of the solution, additional process lines can easily be brought on-line without assistance from EPS (after the initial implementation).

Real-Time Costing provides machine operators and production managers with immediate feedback on how their decisions impact the cost of production. Consequently, Real-Time Costing empowers process-level staff to be the first line of defense against inefficient, costly production practices and decisions, ensuring a more profitable and cost-effective operation.

EPS Real-Time Costing

Benefits of implementing Real-Time Costing include:

  • Realized raw material and energy cost savings
  • Identification of unprofitable products
  • Enhanced quality assurance and consistency
  • Detection of previously unidentified costs
  • Increased awareness among the production staff about how production decisions impact the cost of production
  • Supports continuous cost reduction efforts
  • More accurate grade recipes and standard product cost
  • Improved calibration and reliability of flow meters

Features and functionality include:

  • User configurable calculations for recycled losses (broke)
  • User configurable calculations for consumptions during production breaks
  • User configurable rules for validation of actual vs. standard costs and consumptions
  • Ability to set time-offsets for material consumptions per process tag
  • Generic process historian, production system and quality system interfaces using web service technology
  • Real-time costs and consumptions are available through web service interface and can be utilized by other applications
  • User-friendly, informative screens developed for production staff to be used on the manufacturing floor

For more information on EPS Real-Time Costing, please contact us today!