Cost to change One Tool given Tool Life Calculator

✖Cost of A Tool is simply the cost of one tool being used for machining.ⓘ Cost of A Tool [C_t]			+10% -10%
✖Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.ⓘ Tool Life [T]			+10% -10%
✖Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.ⓘ Taylor's Tool Life Exponent [n]			+10% -10%

✖Cost of Changing Each Tool is the cost that arises due to the time taken by the operator to change one tool when one is paid by the hour.ⓘ Cost to change One Tool given Tool Life [C_ct]

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Cost to change One Tool given Tool Life Solution

STEP 0: Pre-Calculation Summary

Formula Used

Cost of Changing Each Tool = Cost of A Tool*(Tool Life*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))-Cost of A Tool
C_ct = C_t*(T*n/(1-n))-C_t
This formula uses 4 Variables

Variables Used

Cost of Changing Each Tool - Cost of Changing Each Tool is the cost that arises due to the time taken by the operator to change one tool when one is paid by the hour.
Cost of A Tool - Cost of A Tool is simply the cost of one tool being used for machining.
Tool Life - (Measured in Second) - Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations.
Taylor's Tool Life Exponent - Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.

STEP 1: Convert Input(s) to Base Unit

Cost of A Tool: 48 --> No Conversion Required
Tool Life: 0.017045 Minute --> 1.0227 Second (Check conversion here)
Taylor's Tool Life Exponent: 0.540818 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

C_ct = C_t*(T*n/(1-n))-C_t --> 48*(1.0227*0.540818/(1-0.540818))-48

Evaluating ... ...

C_ct = 9.81702961527238

STEP 3: Convert Result to Output's Unit

9.81702961527238 --> No Conversion Required

FINAL ANSWER

9.81702961527238 ≈ 9.81703 <-- Cost of Changing Each Tool

(Calculation completed in 00.004 seconds)

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Created by Kumar Siddhant

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

Kumar Siddhant has created this Calculator and 400+ more calculators!

Verified by Parul Keshav

National Institute of Technology (NIT), Srinagar

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< Minimum Production Cost Calculators

Machining and Operating Rate using Minimum Production Cost

LaTeX Go Machining And Operating Rate = (Cost of A Tool/((Reference Tool Life*(Taylor's Tool Life Exponent For Hard Material/(Taylor's Tool Life Exponent For Hard Material-1))*(Reference Cutting Velocity/Cutting Velocity)^(1/Taylor's Tool Life Exponent For Hard Material))-Time to Change One Tool))

Reference Cutting Velocity given Cutting Velocity

LaTeX Go Reference Cutting Velocity = Cutting Velocity/(((Taylor's Tool Life Exponent*Cost of A Tool*Reference Tool Life)/((1-Taylor's Tool Life Exponent)*(Cost of A Tool*Time to Change One Tool+Cost of A Tool)))^Taylor's Tool Life Exponent)

Reference Tool Life given Cutting Velocity

LaTeX Go Reference Tool Life = (Cutting Velocity/Reference Cutting Velocity)^(1/Taylor's Tool Life Exponent)*(1-Taylor's Tool Life Exponent)*(Cost of A Tool*Time to Change One Tool+Cost of A Tool)/(Taylor's Tool Life Exponent*Cost of A Tool)

Cutting Velocity for Minimum Production Cost

LaTeX Go Cutting Velocity = Reference Cutting Velocity*((Taylor's Tool Life Exponent*Cost of A Tool*Reference Tool Life)/((1-Taylor's Tool Life Exponent)*(Cost of A Tool*Time to Change One Tool+Cost of A Tool)))^Taylor's Tool Life Exponent

Cost to change One Tool given Tool Life Formula

LaTeX Go

Cost of Changing Each Tool = Cost of A Tool*(Tool Life*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))-Cost of A Tool
C_ct = C_t*(T*n/(1-n))-C_t

How is Tool-Changing Cost generated?

The tool-changing cost is generated on the processes that basically include changing or re-sharpening the tool. These do not result in any productivity or profit whatsoever. But as the time is consumed by the operator to perform these tasks, when paid by the hour, the operators cost plants this time too.

How to Calculate Cost to change One Tool given Tool Life?

Cost to change One Tool given Tool Life calculator uses Cost of Changing Each Tool = Cost of A Tool*(Tool Life*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))-Cost of A Tool to calculate the Cost of Changing Each Tool, Cost to change One Tool given Tool Life is a method to determine the cost that arises due to the time taken by the operator in changing one Cutting Tool when he is paid by the hour maintaining conditions to Minimize the Total Production Cost. Cost of Changing Each Tool is denoted by C_ct symbol.

How to calculate Cost to change One Tool given Tool Life using this online calculator? To use this online calculator for Cost to change One Tool given Tool Life, enter Cost of A Tool (C_t), Tool Life (T) & Taylor's Tool Life Exponent (n) and hit the calculate button. Here is how the Cost to change One Tool given Tool Life calculation can be explained with given input values -> 9.81703 = 48*(1.0227*0.540818/(1-0.540818))-48.

FAQ

What is Cost to change One Tool given Tool Life?

Cost to change One Tool given Tool Life is a method to determine the cost that arises due to the time taken by the operator in changing one Cutting Tool when he is paid by the hour maintaining conditions to Minimize the Total Production Cost and is represented as C_ct = C_t*(T*n/(1-n))-C_t or Cost of Changing Each Tool = Cost of A Tool*(Tool Life*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))-Cost of A Tool. Cost of A Tool is simply the cost of one tool being used for machining, Tool Life is the period of time for which the cutting edge, affected by the cutting procedure, retains its cutting capacity between sharpening operations & Taylor's Tool Life Exponent is an experimental exponent that helps in quantifying the rate of Tool Wear.

How to calculate Cost to change One Tool given Tool Life?

Cost to change One Tool given Tool Life is a method to determine the cost that arises due to the time taken by the operator in changing one Cutting Tool when he is paid by the hour maintaining conditions to Minimize the Total Production Cost is calculated using Cost of Changing Each Tool = Cost of A Tool*(Tool Life*Taylor's Tool Life Exponent/(1-Taylor's Tool Life Exponent))-Cost of A Tool. To calculate Cost to change One Tool given Tool Life, you need Cost of A Tool (C_t), Tool Life (T) & Taylor's Tool Life Exponent (n). With our tool, you need to enter the respective value for Cost of A Tool, Tool Life & Taylor's Tool Life Exponent and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

How many ways are there to calculate Cost of Changing Each Tool?

In this formula, Cost of Changing Each Tool uses Cost of A Tool, Tool Life & Taylor's Tool Life Exponent. We can use 1 other way(s) to calculate the same, which is/are as follows -

Cost of Changing Each Tool = (Cost of A Tool*Reference Tool Life/(((Cutting Velocity/Reference Cutting Velocity)^(1/Taylor's Tool Life Exponent))*(1-Taylor's Tool Life Exponent)/Taylor's Tool Life Exponent))-Cost of A Tool

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