Number of Tools used given Average Production Cost Calculator

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

✖The Number of Tools Used is the total number of tools used for manufacturing a batch of products.ⓘ Number of Tools used given Average Production Cost [N_t]

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Number of Tools used given Average Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

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)
N_t = N_b*(C_pr-C_t*(t_s+t_m))/(C_t*t_c+C_t)
This formula uses 7 Variables

Variables Used

Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
Batch Size - Batch size refers to the number of identical parts produced in a single production run or cycle.
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.
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.
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.
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.

STEP 1: Convert Input(s) to Base Unit

Batch Size: 2 --> No Conversion Required
Production Cost of Each Component: 11400 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required
Setup Time: 0.45 Minute --> 27 Second (Check conversion here)
Machining Time: 1.15 Minute --> 69 Second (Check conversion here)
Time to Change One Tool: 0.5 Minute --> 30 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

N_t = N_b*(C_pr-C_t*(t_s+t_m))/(C_t*t_c+C_t) --> 2*(11400-80*(27+69))/(80*30+80)

Evaluating ... ...

N_t = 3

STEP 3: Convert Result to Output's Unit

3 --> No Conversion Required

FINAL ANSWER

3 <-- Number of Tools Used

(Calculation completed in 00.004 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

Number of Tools used given Average Production Cost Formula

LaTeX Go

Tool Change Considerations

1) Cost of Tool: Determine the cost of the new tool you're replacing. This includes the purchase cost or rental fees for the tool.
2) Downtime: Consider the time required to change the tool. Machine downtime during the changeover process can lead to lost production time.
3) Labor: Factor in the labor costs associated with tool changeovers. This includes the wages of the operators performing the change and any additional personnel involved.
4) Setup Time: After changing the tool, there may be additional setup time required to calibrate the machine for the new tool.
5) Quality Control: After a tool change, it's important to perform quality checks to ensure that the new tool is producing parts to the required specifications. Factor in the time and resources needed for quality control.

How to Calculate Number of Tools used given Average Production Cost?

Number of Tools used given Average Production Cost calculator uses 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) to calculate the Number of Tools Used, The Number of Tools used given Average Production Cost is a method to determine the maximum number of Tools that can be used for producing a single component when the total amount available for production is known. This calculation helps in understanding the tooling requirements and their impact on the overall production cost. Effective management of tooling costs is essential for optimizing production efficiency and maintaining profitability in manufacturing operations. Number of Tools Used is denoted by N_t symbol.

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

FAQ

What is Number of Tools used given Average Production Cost?

The Number of Tools used given Average Production Cost is a method to determine the maximum number of Tools that can be used for producing a single component when the total amount available for production is known. This calculation helps in understanding the tooling requirements and their impact on the overall production cost. Effective management of tooling costs is essential for optimizing production efficiency and maintaining profitability in manufacturing operations and is represented as N_t = N_b*(C_pr-C_t*(t_s+t_m))/(C_t*t_c+C_t) or 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). Batch size refers to the number of identical parts produced in a single production run or cycle, Production cost of each component involves accounting for various factors, including material costs, labor, machine operating costs, tool costs, overhead, and other related expenses, 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, 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 & 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.

How to calculate Number of Tools used given Average Production Cost?

The Number of Tools used given Average Production Cost is a method to determine the maximum number of Tools that can be used for producing a single component when the total amount available for production is known. This calculation helps in understanding the tooling requirements and their impact on the overall production cost. Effective management of tooling costs is essential for optimizing production efficiency and maintaining profitability in manufacturing operations is calculated using 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). To calculate Number of Tools used given Average Production Cost, you need Batch Size (N_b), Production Cost of Each Component (C_pr), Cost of a Tool (C_t), Setup Time (t_s), Machining Time (t_m) & Time to Change One Tool (t_c). With our tool, you need to enter the respective value for Batch Size, Production Cost of Each Component, Cost of a Tool, Setup Time, Machining Time & Time to Change One Tool 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 Number of Tools Used?

In this formula, Number of Tools Used uses Batch Size, Production Cost of Each Component, Cost of a Tool, Setup Time, Machining Time & Time to Change One Tool. We can use 1 other way(s) to calculate the same, which is/are as follows -

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

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