A Modified Cost Estimation Formulae for Calculating Manufacturing Cost of Injection Part/Mold

In modern society, a plastic part has its own important position. To the managers and decision makers in the field of plastic component, how to decide the manufacturing cost of the injection part or injection mold as quickly as possible is most valuable. Cost estimation formulae (CEF) are the most common method to evaluate the cost of injection part/mold, which is similar to our ordinary thinking. In this paper, a CEF method used by Dr. Weiyi Hu in Massachusetts University is first discussed. To the problems existed in the formulae, we propose an improved algorithm. This algorithm can be used to estimate the manufacturing cost of injection part/mold accurately in the early design stage.