The disclosed method may include (1) receiving a precision level of each weight associated with each input of a node of a computational model, (2) identifying, for each weight, one of a plurality of multiplier groups, where each multiplier group may include a plurality of hardware multipliers of a corresponding bit width, and where the corresponding bit width of the plurality of hardware multipliers of the one of the plurality of multiplier groups may be sufficient to multiply the weight by the associated input, and (3) multiplying each weight by its associated input using an available hardware multiplier of the one of the plurality of multiplier groups identified for the weight. Various other processing elements, methods, and systems are also disclosed.