✖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%
✖Machining time refers to the total time required to complete a specific machining operation on a workpiece.ⓘ Machining Time [t_m]			+10% -10%
✖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%
✖Batch size refers to the number of identical parts produced in a single production run or cycle.ⓘ Batch Size [N_b]			+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%

✖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 for Each Product given Average Production Cost [t_s]

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Formula

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Setup Time for Each Product given Average Production Cost

Formula

`"t"_{"s"} = ("C"_{"pr"}-"C"_{"t"}*"t"_{"m"}-("N"_{"t"}/"N"_{"b"})*("C"_{"t"}*"t"_{"c"}+"C"_{"t"}))/"C"_{"t"}`

Example

`"0.45min"=("11400"-"80"*"1.15min"-("3"/"2")*("80"*"0.5min"+"80"))/"80"`

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Setup Time for Each Product given Average Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

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

Variables Used

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.
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.
Machining Time - (Measured in Second) - Machining time refers to the total time required to complete a specific machining operation on a workpiece.
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.
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

Production Cost of Each Component: 11400 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required
Machining Time: 1.15 Minute --> 69 Second (Check conversion here)
Number of Tools Used: 3 --> No Conversion Required
Batch Size: 2 --> No Conversion Required
Time to Change One Tool: 0.5 Minute --> 30 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

t_s = (C_pr-C_t*t_m-(N_t/N_b)*(C_t*t_c+C_t))/C_t --> (11400-80*69-(3/2)*(80*30+80))/80

Evaluating ... ...

t_s = 27

STEP 3: Convert Result to Output's Unit

27 Second -->0.45 Minute (Check conversion here)

FINAL ANSWER

0.45 Minute <-- Setup Time

(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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< 18 Average Production Cost Calculators

Total Non-Productive Time using Average Production Cost

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

Machining and Operating Rate given Average Production Cost of each Component

Go Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of a Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size))

Tool Changing Time for Each Tool given Average Production Cost

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

Total Machining Time using Average Production Cost

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

Tool Changing Cost of Each Product using Average Production Cost

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

Machining Time for Each Product given Average Production Cost

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

Setup Time for Each Product given Average Production Cost

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

Total Non-Productive Cost given Average Production Cost

Go Total Non Productive Cost = Batch Size*(Production Cost of Each Component-(Cost of a Tool*Machining Time))-(Number of Tools Used*((Cost of a Tool*Tool Changing Time)+Cost of a Tool))

Non-Productive Cost of Component given Average Production Cost

Go Non Average Production Cost = Production Cost of Each Component-(Cost of a Tool*Machining Time+(Number of Tools Used/Batch Size)*(Cost of a Tool*Tool Changing Time+Cost of a Tool))

Total Tool Changing Time using Average Production Cost

Go Total Tool Changing Time = (Batch Size*(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time))-Number of Tools Used*Cost of a Tool)/(Cost of a Tool)

Total Cost of Tools used given Average Production Cost

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

Number of Tools used given Average Production Cost

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)

Batch Size given Average Production Cost

Go 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))

Average Production Cost of each component

Go Average Production Cost = Cost of a Tool*(Setup Time+Machining Time)+(Number of Tools Used/Batch Size)*((Cost of a Tool*Tool Changing Time)+Cost of a Tool)

Total Tool Changing Cost using Average Production Cost

Go Total Tool Changing Cost = Batch Size*(Production Cost of Each Component-Cost of a Tool*(Setup Time+Machining Time))-Number of Tools Used*Cost of a Tool

Average Production Cost of Each Component using Individual Costs

Go Production Cost of Each Component = (Total Non Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost+Total Tool Cost)/Batch Size

Number of Tools used given Average Production Time

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

Average Production Cost of Each Component Given Total Production Cost

Go Production Cost of Each Component = Total Production Cost/Batch Size

Setup Time for Each Product given Average Production Cost Formula

Importance of Setup Time

1) Impact on Efficiency: Setup time directly affects the overall production efficiency. Longer setup times can lead to increased downtime and reduced machine utilization.
2) Cost Implications: Setup time contributes to the non-productive cost, impacting the average production cost per component. Efficiently managing setup time can lower these costs.
3) Production Scheduling: Accurate estimation of setup time is crucial for effective production planning and scheduling.

How to Calculate Setup Time for Each Product given Average Production Cost?

Setup Time for Each Product given Average Production Cost calculator uses 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 to calculate the Setup Time, Setup time for each product given average production cost refers to the time required to prepare a machine or production process for manufacturing a new product. This includes activities such as changing tools, fixtures, machine settings, calibration, and initial trial runs to ensure the machine is ready for production. Setup Time is denoted by t_s symbol.

How to calculate Setup Time for Each Product given Average Production Cost using this online calculator? To use this online calculator for Setup Time for Each Product given Average Production Cost, enter Production Cost of Each Component (C_pr), Cost of a Tool (C_t), Machining Time (t_m), Number of Tools Used (N_t), Batch Size (N_b) & Time to Change One Tool (t_c) and hit the calculate button. Here is how the Setup Time for Each Product given Average Production Cost calculation can be explained with given input values -> 0.0075 = (11400-80*69-(3/2)*(80*30+80))/80.

FAQ

What is Setup Time for Each Product given Average Production Cost?

Setup time for each product given average production cost refers to the time required to prepare a machine or production process for manufacturing a new product. This includes activities such as changing tools, fixtures, machine settings, calibration, and initial trial runs to ensure the machine is ready for production and is represented as t_s = (C_pr-C_t*t_m-(N_t/N_b)*(C_t*t_c+C_t))/C_t or 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. 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, Machining time refers to the total time required to complete a specific machining operation on a workpiece, The Number of Tools Used is the total number of tools used for manufacturing a batch of products, Batch size refers to the number of identical parts produced in a single production run or cycle & 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 Setup Time for Each Product given Average Production Cost?

Setup time for each product given average production cost refers to the time required to prepare a machine or production process for manufacturing a new product. This includes activities such as changing tools, fixtures, machine settings, calibration, and initial trial runs to ensure the machine is ready for production is calculated using 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. To calculate Setup Time for Each Product given Average Production Cost, you need Production Cost of Each Component (C_pr), Cost of a Tool (C_t), Machining Time (t_m), Number of Tools Used (N_t), Batch Size (N_b) & Time to Change One Tool (t_c). With our tool, you need to enter the respective value for Production Cost of Each Component, Cost of a Tool, Machining Time, Number of Tools Used, Batch Size & 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.

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