As raw material prices continue to rise and you want to realize cost savings from cutting tool purchases, two factors are likely to be considered: tool life and tool price. But is this the best way to find the maximum savings your tool can achieve?
Mainly to improve cutting ability:
1. The survey that has been implemented by tool supplier Sandvik Coromant explains why there is a problem with this method. The survey surveyed a number of manufacturers to evaluate factors that have an impact on the cost of the workpiece. The figures show that when it comes to the potential for cost savings, the price and life of the tool are not very relevant. They represent the average cost per part in a percentage. The cost of cutting tools is only 3% of the total cost, which means that the improvement in tool life or price can only provide a small savings. These figures also illustrate which aspects of the tool have greater potential for savings.
2. Variable cost (cost incurred only in production) Cutting tool: 3% workpiece material: 17% fixed cost (cost incurred at all times) Machinery: 27% labor: 31% plant and management: 22%
3. Use these numbers in three different methods to reduce costs. The comparison assumes that the current cost of a batch of workpieces is $10/piece, meaning that 3% of the cutting tool is converted to 30 cents, and 17% of the workpiece material is converted to $1.7.
4. Case A (saving 30% of tool cost) is the method of “beating the tool supplierâ€. The workshop won a 30% discount on tool prices. However, even such a high price reduction translates to only 9 cents per part, with a savings ratio of less than 1%.
5. Case B (extending 50% of tool life) focuses on tool life. The shop conducted a comparative experiment in which it found a tool that guaranteed a 50% longer life. But the real impact of this savings is also low. The negligible money saved per workpiece represents only a 1% cost savings.
6. Now let's look at Case C (increasing the cutting speed by 20%), where the change in the tool can increase the cutting speed by 20%. Although it is much more expensive to implement such a high speed tool, the new tool proves its value by influencing a larger source of expenses.
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