Total Tool Changing Time given Total Production Cost Calculator

✖Total Production Cost involves summing up various cost components associated with the machining process.ⓘ Total Production Cost [C_tp]			+10% -10%
✖Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.ⓘ Total Cost of Tools Used [C_t]			+10% -10%
✖Total machining and operating cost involves considering various cost factors, including material costs, labor costs, machine operating costs, tool costs, overhead, and additional related expenses.ⓘ Total Machining And Operating Cost [C_m]			+10% -10%
✖Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.ⓘ Total Non Productive Cost [T_npc]			+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%
✖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]			+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.ⓘ Total Tool Changing Time given Total Production Cost [t_c]

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Total Tool Changing Time given Total Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Time to Change One Tool = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non Productive Cost))/(Number of Tools Used*Cost of a Tool)
t_c = (C_tp-(C_t+C_m+T_npc))/(N_t*C)
This formula uses 7 Variables

Variables Used

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.
Total Production Cost - Total Production Cost involves summing up various cost components associated with the machining process.
Total Cost of Tools Used - Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.
Total Machining And Operating Cost - Total machining and operating cost involves considering various cost factors, including material costs, labor costs, machine operating costs, tool costs, overhead, and additional related expenses.
Total Non Productive Cost - Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components.
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.

STEP 1: Convert Input(s) to Base Unit

Total Production Cost: 30000 --> No Conversion Required
Total Cost of Tools Used: 240 --> No Conversion Required
Total Machining And Operating Cost: 100 --> No Conversion Required
Total Non Productive Cost: 22460 --> No Conversion Required
Number of Tools Used: 3 --> No Conversion Required
Cost of a Tool: 80 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

t_c = (C_tp-(C_t+C_m+T_npc))/(N_t*C) --> (30000-(240+100+22460))/(3*80)

Evaluating ... ...

t_c = 30

STEP 3: Convert Result to Output's Unit

30 Second --> No Conversion Required

FINAL ANSWER

30 Second <-- Time to Change One Tool

(Calculation completed in 00.066 seconds)

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Created by Kumar Siddhant

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

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< Total Production Cost Calculators

Non-Productive Cost of Each Component given Total Production Cost

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

Total Production Cost

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

Total Non-Productive Cost given Total Production Cost

LaTeX Go Total Non Productive Cost = Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used)

Total Production Cost for given Batch Size

LaTeX Go Total Production Cost = Batch Size*Production Cost of Each Component

Total Tool Changing Time given Total Production Cost Formula

LaTeX Go

Significance of Total Tool Changing Time

The Total Tool Changing Time denotes the time being spent on an important but non-profitable process that is changing the Machining tool. This results in extra cost factors being accounted for as the operators are usually waged per hour or day. It is preferred that the Total Tool Changing Time in a Production Line is low so as there is a low expense on these non-profitable tasks.

How to Calculate Total Tool Changing Time given Total Production Cost?

Total Tool Changing Time given Total Production Cost calculator uses Time to Change One Tool = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non Productive Cost))/(Number of Tools Used*Cost of a Tool) to calculate the Time to Change One Tool, The Total Tool Changing Time given Total Production Cost is a method to determine the maximum time that can be spared to be spent for changing the tool. Time to Change One Tool is denoted by t_c symbol.

How to calculate Total Tool Changing Time given Total Production Cost using this online calculator? To use this online calculator for Total Tool Changing Time given Total Production Cost, enter Total Production Cost (C_tp), Total Cost of Tools Used (C_t), Total Machining And Operating Cost (C_m), Total Non Productive Cost (T_npc), Number of Tools Used (N_t) & Cost of a Tool (C) and hit the calculate button. Here is how the Total Tool Changing Time given Total Production Cost calculation can be explained with given input values -> 0.008333 = (30000-(240+100+22460))/(3*80).

FAQ

What is Total Tool Changing Time given Total Production Cost?

The Total Tool Changing Time given Total Production Cost is a method to determine the maximum time that can be spared to be spent for changing the tool and is represented as t_c = (C_tp-(C_t+C_m+T_npc))/(N_t*C) or Time to Change One Tool = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non Productive Cost))/(Number of Tools Used*Cost of a Tool). Total Production Cost involves summing up various cost components associated with the machining process, Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process, Total machining and operating cost involves considering various cost factors, including material costs, labor costs, machine operating costs, tool costs, overhead, and additional related expenses, Total Non Productive Cost is the amount spent on activities that do not result in any productivity or profit to the plant during the manufacturing of a batch of components, 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.

How to calculate Total Tool Changing Time given Total Production Cost?

The Total Tool Changing Time given Total Production Cost is a method to determine the maximum time that can be spared to be spent for changing the tool is calculated using Time to Change One Tool = (Total Production Cost-(Total Cost of Tools Used+Total Machining And Operating Cost+Total Non Productive Cost))/(Number of Tools Used*Cost of a Tool). To calculate Total Tool Changing Time given Total Production Cost, you need Total Production Cost (C_tp), Total Cost of Tools Used (C_t), Total Machining And Operating Cost (C_m), Total Non Productive Cost (T_npc), Number of Tools Used (N_t) & Cost of a Tool (C). With our tool, you need to enter the respective value for Total Production Cost, Total Cost of Tools Used, Total Machining And Operating Cost, Total Non Productive Cost, Number of Tools Used & Cost of a 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 Time to Change One Tool?

In this formula, Time to Change One Tool uses Total Production Cost, Total Cost of Tools Used, Total Machining And Operating Cost, Total Non Productive Cost, Number of Tools Used & Cost of a Tool. We can use 2 other way(s) to calculate the same, which is/are as follows -

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

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