Tool Changing Time for Each Tool given Average Production Cost Solution

STEP 0: Pre-Calculation Summary
Formula Used
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)
tc = (Nb*(Cpr-Ct*(ts+tm))-Nt*Ct)/(Ct*Nt)
This formula uses 7 Variables
Variables Used
Time to Change One Tool - (Measured in Second) - Time to Change One Tool is the measure of time it takes to change one tool during machining.
Batch Size - Batch Size is the count of similar kinds of products to be manufactured.
Production Cost of Each Component - Production Cost of Each Component is the total amount that it takes to produce a single component from scratch.
Cost of A Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
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 is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material.
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: 15000 --> No Conversion Required
Cost of A Tool: 80 --> No Conversion Required
Setup Time: 0.9 Minute --> 54 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
tc = (Nb*(Cpr-Ct*(ts+tm))-Nt*Ct)/(Ct*Nt) --> (2*(15000-80*(54+69))-3*80)/(80*3)
Evaluating ... ...
tc = 42
STEP 3: Convert Result to Output's Unit
42 Second -->0.7 Minute (Check conversion here)
FINAL ANSWER
0.7 Minute <-- Time to Change One Tool
(Calculation completed in 00.004 seconds)

Credits

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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3 Tool Changing Time Calculators

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 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 Tool Changing Time given Total Production Cost
Go Total Tool Changing Time = (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)

Tool Changing Time for Each Tool given Average Production Cost Formula

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)
tc = (Nb*(Cpr-Ct*(ts+tm))-Nt*Ct)/(Ct*Nt)

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 Tool Changing Time for Each Tool given Average Production Cost?

Tool Changing Time for Each Tool given Average Production Cost calculator uses 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) to calculate the Time to Change One Tool, Tool Changing Time for Each Tool given Average Production Cost is a method to determine the maximum time that can be spared on each tool to be spent for changing based on the average expense to produce 1 component. Time to Change One Tool is denoted by tc symbol.

How to calculate Tool Changing Time for Each Tool given Average Production Cost using this online calculator? To use this online calculator for Tool Changing Time for Each Tool given Average Production Cost, enter Batch Size (Nb), Production Cost of Each Component (Cpr), Cost of A Tool (Ct), Setup Time (ts), Machining Time (tm) & Number of Tools Used (Nt) and hit the calculate button. Here is how the Tool Changing Time for Each Tool given Average Production Cost calculation can be explained with given input values -> 0.011667 = (2*(15000-80*(54+69))-3*80)/(80*3).

FAQ

What is Tool Changing Time for Each Tool given Average Production Cost?
Tool Changing Time for Each Tool given Average Production Cost is a method to determine the maximum time that can be spared on each tool to be spent for changing based on the average expense to produce 1 component and is represented as tc = (Nb*(Cpr-Ct*(ts+tm))-Nt*Ct)/(Ct*Nt) or 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). Batch Size is the count of similar kinds of products to be manufactured, Production Cost of Each Component is the total amount that it takes to produce a single component from scratch, The Cost of a Tool is simply the cost of one tool being used for machining, 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 is the time when a machine is actually processing something. Generally, machining time is the term used when there is a removal of unwanted material & The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
How to calculate Tool Changing Time for Each Tool given Average Production Cost?
Tool Changing Time for Each Tool given Average Production Cost is a method to determine the maximum time that can be spared on each tool to be spent for changing based on the average expense to produce 1 component is calculated using 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). To calculate Tool Changing Time for Each Tool given Average Production Cost, you need Batch Size (Nb), Production Cost of Each Component (Cpr), Cost of A Tool (Ct), Setup Time (ts), Machining Time (tm) & Number of Tools Used (Nt). 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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