At Midway Rotary Die Solutions, we manufacture premium tool steel rotary dies. They aren’t always the cheapest, but in most cases, they are the least expensive. If you’re challenged to reduce tooling costs, read on. Reducing tooling costs means thinking different. It means considering all-in costs, far beyond the up-front cost of the tool. All-in costs include –
- Initial tool cost
- # Parts produced before tool needs sharpening
- # Resharpenings before tool is used up
- Cost to ship to/from your die vendor for each resharpening
- Setup time (and lost production) for each occasion when tool is removed for resharpening
Add the total number of parts produced for the life of a tool and divide by the total all-in costs of the tool to determine the cost per part of the tool. A real-world comparison of the cheapest tool and the Midway premium tool when looking at all-in costs is shown below.
The Midway die delivers a 31% savings per part produced – amazing savings!