Economic Models for Process Development
The economics of conventional machining operations such as turning, drilling, milling, and grinding has been determined through time and cost models developed since the early 1900s. Traditionally, the time and cost models are expressed in terms of speed, feed, depth, tool life, tool change time, setup time, and overhead and tool usage costs. During the mid-1970s, a generalized economic model applicable to any machining operation was introduced.’ Since the structure of this model is conducive to trade-off and sensitivity analysis, it is used as the basis for formulating economic models for process development.
KeywordsProcessing Unit Material Removal Rate Cost Model Cost Rate Economic Feasibility
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