Total Tool Changing Time using 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%
✖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%

✖Total Tool Changing Time is the cumulative time spent changing tools throughout the machining process.ⓘ Total Tool Changing Time using Average Production Cost [T_ct]

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Total Tool Changing Time using Average Production Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

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

Variables Used

Total Tool Changing Time - (Measured in Second) - Total Tool Changing Time is the cumulative time spent changing tools throughout the machining process.
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.
Number of Tools Used - The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

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)
Number of Tools Used: 3 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

T_ct = (N_b*(C_pr-C_t*(t_s+t_m))-N_t*C_t)/(C_t) --> (2*(11400-80*(27+69))-3*80)/(80)

Evaluating ... ...

T_ct = 90

STEP 3: Convert Result to Output's Unit

90 Second -->1.5 Minute (Check conversion here)

FINAL ANSWER

1.5 Minute <-- Total Tool Changing Time

(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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Verified by Parul Keshav

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

Total Tool Changing Time using Average Production Cost Formula

LaTeX Go

Components of Tool Changing Time

1) Stopping the Machine: Time taken to safely stop the machine and prepare it for tool change. 2) Removing the Old Tool: Time required to remove the worn-out or used tool. 3) Installing the New Tool: Time taken to install the new tool into the machine. 4) Calibration and Setup: Time for calibrating the machine and setting it up for the new tool. 5) Quality Checks: Time for performing quality checks to ensure the new tool is correctly installed and producing parts within specifications.

How to Calculate Total Tool Changing Time using Average Production Cost?

Total Tool Changing Time using Average Production Cost calculator uses 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) to calculate the Total Tool Changing Time, The Total Tool Changing Time using Average Production Cost refers to the duration required to replace a tool in a machine during the manufacturing process. This includes the time taken to stop the machine, remove the old tool, install the new tool, calibrate or set up the machine for the new tool, and perform any necessary quality checks to ensure the machine is ready for production. Total Tool Changing Time is denoted by T_ct symbol.

How to calculate Total Tool Changing Time using Average Production Cost using this online calculator? To use this online calculator for Total Tool Changing Time using 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) & Number of Tools Used (N_t) and hit the calculate button. Here is how the Total Tool Changing Time using Average Production Cost calculation can be explained with given input values -> 0.025 = (2*(11400-80*(27+69))-3*80)/(80).

FAQ

What is Total Tool Changing Time using Average Production Cost?

The Total Tool Changing Time using Average Production Cost refers to the duration required to replace a tool in a machine during the manufacturing process. This includes the time taken to stop the machine, remove the old tool, install the new tool, calibrate or set up the machine for the new tool, and perform any necessary quality checks to ensure the machine is ready for production and is represented as T_ct = (N_b*(C_pr-C_t*(t_s+t_m))-N_t*C_t)/(C_t) or 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). 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 & The Number of Tools Used is the total number of tools used for manufacturing a batch of products.

How to calculate Total Tool Changing Time using Average Production Cost?

The Total Tool Changing Time using Average Production Cost refers to the duration required to replace a tool in a machine during the manufacturing process. This includes the time taken to stop the machine, remove the old tool, install the new tool, calibrate or set up the machine for the new tool, and perform any necessary quality checks to ensure the machine is ready for production is calculated using 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). To calculate Total Tool Changing Time using 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) & Number of Tools Used (N_t). 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 & Number of Tools Used 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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