The invention relates to a system and a process of forming sheets comprising: a sheet deforming means comprising punch, blank holder and die; strain measuring means provided on the said sheet deforming means; data acquisition, means provided with Artificial Neural network (ANN) capabilities, output device configured with the said sheet deforming and strain measuring means; wherein in the process of forming, strain data from the said strain measuring means is fed into the data acquisition and processing means wherein ANN architecture is developed and ANN trained in the said processing means to arrive at a the sheet material specification to produce sheet product/s of desired shapes/geometries, meet user to defined quality parameters, effect of change in tool parameters and processing conditions on quality of the product.