Batch Size given Average Production Cost Calculator

✖The Number of Tools Used is the total number of tools used for manufacturing a batch of products.ⓘ Number of Tools Used [N_t]			+10% -10%
✖Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs.ⓘ Cost of a Tool [C_t]			+10% -10%
✖Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.ⓘ Time to Change One Tool [t_c]			+10% -10%
✖Production cost of each component involves accounting for various factors, including material costs, labor, machine operating costs, tool costs, overhead, and other related expenses.ⓘ Production Cost of Each Component [C_pr]			+10% -10%
✖Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.ⓘ Setup Time [t_s]			+10% -10%
✖Machining time refers to the total time required to complete a specific machining operation on a workpiece.ⓘ Machining Time [t_m]			+10% -10%

✖Batch size refers to the number of identical parts produced in a single production run or cycle.ⓘ Batch Size given Average Production Cost [N_b]

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Batch Size given Average Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Batch Size = Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool)/(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time))
N_b = N_t*(C_t*t_c+C_t)/(C_pr-C_t*(t_s+t_m))
This formula uses 7 Variables

Variables Used

Batch Size - Batch size refers to the number of identical parts produced in a single production run or cycle.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
Cost of a Tool - Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs.
Time to Change One Tool - (Measured in Second) - Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one.
Production Cost of Each Component - Production cost of each component involves accounting for various factors, including material costs, labor, machine operating costs, tool costs, overhead, and other related expenses.
Setup Time - (Measured in Second) - Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component.
Machining Time - (Measured in Second) - Machining time refers to the total time required to complete a specific machining operation on a workpiece.

STEP 1: Convert Input(s) to Base Unit

Number of Tools Used: 3 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required
Time to Change One Tool: 0.5 Minute --> 30 Second (Check conversion here)
Production Cost of Each Component: 11400 --> No Conversion Required
Setup Time: 0.45 Minute --> 27 Second (Check conversion here)
Machining Time: 1.15 Minute --> 69 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

N_b = N_t*(C_t*t_c+C_t)/(C_pr-C_t*(t_s+t_m)) --> 3*(80*30+80)/(11400-80*(27+69))

Evaluating ... ...

N_b = 2

STEP 3: Convert Result to Output's Unit

2 --> No Conversion Required

FINAL ANSWER

2 <-- Batch Size

(Calculation completed in 00.020 seconds)

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Created by Kumar Siddhant

Indian Institute of Information Technology, Design and Manufacturing (IIITDM), Jabalpur

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National Institute of Technology (NIT), Srinagar

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< Average Production Cost Calculators

Total Non-Productive Time using Average Production Cost

LaTeX Go Non Productive Time = (Batch Size*(Production Cost of Each Component-Cost of a Tool*Machining Time)-(Cost of a Tool*Number of Tools Used*Time to Change One Tool)-(Number of Tools Used*Cost of a Tool))/Cost of a Tool

Setup Time for Each Product given Average Production Cost

LaTeX Go Setup Time = (Production Cost of Each Component-Cost of a Tool*Machining Time-(Number of Tools Used/Batch Size)*(Cost of a Tool*Time to Change One Tool+Cost of a Tool))/Cost of a Tool

Number of Tools used given Average Production Cost

LaTeX Go Number of Tools Used = Batch Size*(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time))/(Cost of a Tool*Time to Change One Tool+Cost of a Tool)

Number of Tools used given Average Production Time

LaTeX Go Number of Tools Used = Batch Size*(Average Production Time-(Setup Time+Machining Time))/Time to Change One Tool

Batch Size given Average Production Cost Formula

LaTeX Go

Importance of Batch Size

1) Cost Efficiency: Larger batch sizes can reduce the average cost per component by spreading fixed costs (e.g., setup costs) over a larger number of units.
2) Production Efficiency: Optimizing batch size can improve machine utilization and reduce downtime.
3)Inventory Management: Helps in planning the inventory levels needed for raw materials and finished goods.
4)Scheduling: Affects the production schedule and delivery timelines.

How to Calculate Batch Size given Average Production Cost?

Batch Size given Average Production Cost calculator uses Batch Size = Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool)/(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time)) to calculate the Batch Size, The Batch Size given Average Production Cost refers to the total number of components produced in a single production run or set. It is an important factor in manufacturing as it impacts production efficiency, costs, and scheduling. Batch Size is denoted by N_b symbol.

How to calculate Batch Size given Average Production Cost using this online calculator? To use this online calculator for Batch Size given Average Production Cost, enter Number of Tools Used (N_t), Cost of a Tool (C_t), Time to Change One Tool (t_c), Production Cost of Each Component (C_pr), Setup Time (t_s) & Machining Time (t_m) and hit the calculate button. Here is how the Batch Size given Average Production Cost calculation can be explained with given input values -> 2 = 3*(80*30+80)/(11400-80*(27+69)).

FAQ

What is Batch Size given Average Production Cost?

The Batch Size given Average Production Cost refers to the total number of components produced in a single production run or set. It is an important factor in manufacturing as it impacts production efficiency, costs, and scheduling and is represented as N_b = N_t*(C_t*t_c+C_t)/(C_pr-C_t*(t_s+t_m)) or Batch Size = Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool)/(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time)). The Number of Tools Used is the total number of tools used for manufacturing a batch of products, Cost of a tool is a multifaceted consideration that includes the initial purchase price, maintenance costs, tool life, and the impact on overall production costs, Time to change one tool often referred to as tool change time, includes the duration taken to remove the used tool and install a new one, Production cost of each component involves accounting for various factors, including material costs, labor, machine operating costs, tool costs, overhead, and other related expenses, Setup Time of each component is the time required to load/unload the workpiece and position the tool for production for one component & Machining time refers to the total time required to complete a specific machining operation on a workpiece.

How to calculate Batch Size given Average Production Cost?

The Batch Size given Average Production Cost refers to the total number of components produced in a single production run or set. It is an important factor in manufacturing as it impacts production efficiency, costs, and scheduling is calculated using Batch Size = Number of Tools Used*(Cost of a Tool*Time to Change One Tool+Cost of a Tool)/(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time)). To calculate Batch Size given Average Production Cost, you need Number of Tools Used (N_t), Cost of a Tool (C_t), Time to Change One Tool (t_c), Production Cost of Each Component (C_pr), Setup Time (t_s) & Machining Time (t_m). With our tool, you need to enter the respective value for Number of Tools Used, Cost of a Tool, Time to Change One Tool, Production Cost of Each Component, Setup Time & Machining Time and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

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