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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. Check FAQs
tc=Ctp-(Ct+Cm+Tnpc)Nt⋅C
tc - Time to Change One Tool?Ctp - Total Production Cost?Ct - Total Cost of Tools Used?Cm - Total Machining And Operating Cost?Tnpc - Total Non Productive Cost?Nt - Number of Tools Used?C - Cost of a Tool?

Total Tool Changing Time given Total Production Cost Example

With values
With units
Only example

Here is how the Total Tool Changing Time given Total Production Cost equation looks like with Values.

Here is how the Total Tool Changing Time given Total Production Cost equation looks like with Units.

Here is how the Total Tool Changing Time given Total Production Cost equation looks like.

30Edit=30000Edit-(240Edit+100Edit+22460Edit)3Edit⋅80Edit
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Total Tool Changing Time given Total Production Cost Solution

Follow our step by step solution on how to calculate Total Tool Changing Time given Total Production Cost?

FIRST Step Consider the formula
tc=Ctp-(Ct+Cm+Tnpc)Nt⋅C
Next Step Substitute values of Variables
∴ tc=30000-(240+100+22460)3⋅80
Next Step Prepare to Evaluate
∴ tc=30000-(240+100+22460)3⋅80
LAST Step Evaluate
∴tc=30s

Total Tool Changing Time given Total Production Cost Formula Elements

Variables
Time to Change One Tool
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.
Symbol: tc
Measurement: TimeUnit: s
Note: Value should be greater than 0.
Formulas to find Time to Change One ToolOpen Variable
Total Production Cost
Total Production Cost involves summing up various cost components associated with the machining process.
Symbol: Ctp
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Production CostOpen Variable
Total Cost of Tools Used
Total cost of tools used refers to the comprehensive expense incurred for all tools required throughout the production process.
Symbol: Ct
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Cost of Tools UsedOpen Variable
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.
Symbol: Cm
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Machining And Operating CostOpen Variable
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.
Symbol: Tnpc
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Total Non Productive CostOpen Variable
Number of Tools Used
The Number of Tools Used is the total number of tools used for manufacturing a batch of products.
Symbol: Nt
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Number of Tools UsedOpen Variable
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.
Symbol: C
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Formulas to find Cost of a ToolOpen Variable

Other Formulas to find Time to Change One Tool

​Go Tool Changing Time for Each Tool given Total Production Cost
tc=Ctp-N⋅C⋅(ts+t)-Nt⋅CC⋅Nt
​Go Time for Changing one Tool given Total Tool Changing Time
tc=ttcNt

Other formulas in Total Production Cost category

​Go Total Production Cost for given Batch Size
Ctp=N⋅Cp
​Go Total Production Cost
Ctp=N⋅(C⋅(ts+t))+Nt⋅(C⋅tc+C)

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

Total Tool Changing Time given Total Production Cost evaluator 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 evaluate 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 tc symbol.

How to evaluate Total Tool Changing Time given Total Production Cost using this online evaluator? To use this online evaluator for Total Tool Changing Time given Total Production Cost, enter Total Production Cost (Ctp), Total Cost of Tools Used (Ct), Total Machining And Operating Cost (Cm), Total Non Productive Cost (Tnpc), Number of Tools Used (Nt) & Cost of a Tool (C) and hit the calculate button.

FAQs on Total Tool Changing Time given Total Production Cost

What is the formula to find Total Tool Changing Time given Total Production Cost?
The formula of Total Tool Changing Time given Total Production Cost is expressed as 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). Here is an example- 0.008333 = (30000-(240+100+22460))/(3*80).
How to calculate Total Tool Changing Time given Total Production Cost?
With Total Production Cost (Ctp), Total Cost of Tools Used (Ct), Total Machining And Operating Cost (Cm), Total Non Productive Cost (Tnpc), Number of Tools Used (Nt) & Cost of a Tool (C) we can find Total Tool Changing Time given Total Production Cost using the formula - 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).
What are the other ways to Calculate Time to Change One Tool?
Here are the different ways to Calculate Time to Change One Tool-
  • 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)OpenImg
  • Time to Change One Tool=Total Tool Changing Time/Number of Tools UsedOpenImg
Can the Total Tool Changing Time given Total Production Cost be negative?
No, the Total Tool Changing Time given Total Production Cost, measured in Time cannot be negative.
Which unit is used to measure Total Tool Changing Time given Total Production Cost?
Total Tool Changing Time given Total Production Cost is usually measured using the Second[s] for Time. Millisecond[s], Microsecond[s], Nanosecond[s] are the few other units in which Total Tool Changing Time given Total Production Cost can be measured.
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