Setup Time for Each Product given Total Production Cost Solution

STEP 0: Pre-Calculation Summary
Formula Used
Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size)
ts = (TPC-Ct*Nb*tm-Nt*(Ct*tc+Ct))/(Ct*Nb)
This formula uses 7 Variables
Variables Used
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.
Total Production Cost - Total Production Cost is the total amount that it takes to produce a batch of components from scratch.
Cost of A Tool - The Cost of a Tool is simply the cost of one tool being used for machining.
Batch Size - Batch Size is the count of similar kinds of products to be manufactured.
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.
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.
STEP 1: Convert Input(s) to Base Unit
Total Production Cost: 30000 --> No Conversion Required
Cost of A Tool: 80 --> No Conversion Required
Batch Size: 2 --> No Conversion Required
Machining Time: 1.15 Minute --> 69 Second (Check conversion here)
Number of Tools Used: 3 --> No Conversion Required
Time to Change One Tool: 0.5 Minute --> 30 Second (Check conversion here)
STEP 2: Evaluate Formula
Substituting Input Values in Formula
ts = (TPC-Ct*Nb*tm-Nt*(Ct*tc+Ct))/(Ct*Nb) --> (30000-80*2*69-3*(80*30+80))/(80*2)
Evaluating ... ...
ts = 72
STEP 3: Convert Result to Output's Unit
72 Second -->1.2 Minute (Check conversion here)
FINAL ANSWER
1.2 Minute <-- Setup Time
(Calculation completed in 00.004 seconds)

Credits

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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13 Value of Production Calculators

Total Non-Productive Time using Average Production Cost
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 Total Production Cost
Go Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size)
Machining and Operating Rate given Average Production Cost of each Component
Go Machining and Operating Rate = (Production Cost of Each Component-(Number of Tools Used*Cost of A Tool/Batch Size))/(Setup Time+Machining Time+(Number of Tools Used*Tool Changing Time/Batch Size))
Setup Time for Each Product given Average Production Cost
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
Machining and Operating Rate given Total Production Cost
Go Machining and Operating Rate = (Total Production Cost-(Number of Tools Used*Cost of A Tool))/(Batch Size*(Setup Time+Machining Time)+(Number of Tools Used*Tool Changing Time))
Batch Size given Average Production Cost
Go Batch Size = Number of Tools Used*((Cost of A Tool*Time to Change One Tool)+Cost of A Tool)/(Production Cost of Each Component-(Cost of A Tool*(Setup Time+Machining Time)))
Number of Tools used given Average Production Cost
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 Total Production Cost
Go Number of Tools Used = (Total Production Cost- Batch Size*Cost of A Tool*(Setup Time+Machining Time))/(Cost of A Tool*Time to Change One Tool+Cost of A Tool)
Setup Time for Each Product given Individual Costs
Go Setup Time = (Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool*Batch Size)
Machining and Operating Rate using Individual Cost
Go Cost of A Tool = (Total Production Cost-(Total Non-Productive Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Batch Size*Machining Time)
Total Non-Productive Time using Total Production Cost
Go Non-Productive Time = (Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool)
Number of Tools used given Individual Costs
Go Number of Tools Used = (Total Production Cost-(Total Non-Productive Cost+Total Machining And Operating Cost+Total Tool Changing Cost))/Cost of A Tool
Batch Size given Total Production Cost
Go Batch Size = Total Production Cost/Production Cost of Each Component

Setup Time for Each Product given Total Production Cost Formula

Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size)
ts = (TPC-Ct*Nb*tm-Nt*(Ct*tc+Ct))/(Ct*Nb)

Significance of Total Non-Productive Time

The Total Non-Productive Time helps the concerned to determine the resource of the industry being wasted due to time lapse in important but non-profitable processes of the production line. It also helps in determining the required measures to be taken to increase the productivity of the plant which generally includes steps to decrease the Total Non-Productive Cost.

How to Calculate Setup Time for Each Product given Total Production Cost?

Setup Time for Each Product given Total Production Cost calculator uses Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size) to calculate the Setup Time, The Setup Time for Each Product given Total Production Cost is a method to determine the maximum time that can be spent to load/unload the workpiece and reposition the tool for the manufacturing of a single product based on the total production cost. Setup Time is denoted by ts symbol.

How to calculate Setup Time for Each Product given Total Production Cost using this online calculator? To use this online calculator for Setup Time for Each Product given Total Production Cost, enter Total Production Cost (TPC), Cost of A Tool (Ct), Batch Size (Nb), Machining Time (tm), Number of Tools Used (Nt) & Time to Change One Tool (tc) and hit the calculate button. Here is how the Setup Time for Each Product given Total Production Cost calculation can be explained with given input values -> 0.02 = (30000-80*2*69-3*(80*30+80))/(80*2).

FAQ

What is Setup Time for Each Product given Total Production Cost?
The Setup Time for Each Product given Total Production Cost is a method to determine the maximum time that can be spent to load/unload the workpiece and reposition the tool for the manufacturing of a single product based on the total production cost and is represented as ts = (TPC-Ct*Nb*tm-Nt*(Ct*tc+Ct))/(Ct*Nb) or Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size). Total Production Cost is the total amount that it takes to produce a batch of components from scratch, The Cost of a Tool is simply the cost of one tool being used for machining, Batch Size is the count of similar kinds of products to be manufactured, 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 & Time to Change One Tool is the measure of time it takes to change one tool during machining.
How to calculate Setup Time for Each Product given Total Production Cost?
The Setup Time for Each Product given Total Production Cost is a method to determine the maximum time that can be spent to load/unload the workpiece and reposition the tool for the manufacturing of a single product based on the total production cost is calculated using Setup Time = (Total Production Cost-Cost of A Tool*Batch Size*Machining Time-Number of Tools Used*(Cost of A Tool*Time to Change One Tool+Cost of A Tool))/(Cost of A Tool*Batch Size). To calculate Setup Time for Each Product given Total Production Cost, you need Total Production Cost (TPC), Cost of A Tool (Ct), Batch Size (Nb), Machining Time (tm), Number of Tools Used (Nt) & Time to Change One Tool (tc). With our tool, you need to enter the respective value for Total Production Cost, Cost of A Tool, Batch Size, Machining Time, Number of Tools Used & Time to Change One 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 Setup Time?
In this formula, Setup Time uses Total Production Cost, Cost of A Tool, Batch Size, Machining Time, Number of Tools Used & Time to Change One Tool. We can use 2 other way(s) to calculate the same, which is/are as follows -
  • 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
  • Setup Time = (Total Production Cost-(Total Machining And Operating Cost+Total Tool Changing Cost+Total Cost of Tools Used))/(Cost of A Tool*Batch Size)
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