Impact of implementing TPM-based tool cost management approach in Indian manufacturing industry
by Pardeep Gupta; Sachit Vardhan
International Journal of Services and Operations Management (IJSOM), Vol. 42, No. 2, 2022

Abstract: The aim of this paper is to examine the impact of accomplishing tool cost management approach with an objective to reduce the manufacturing cost in a reputed tractor manufacturing company situated in Punjab, India. This company started losing its market share, revenue and operating margins after 2004 because of growing intensive competition within the country. High tooling cost was one of the cost factors towards higher manufacturing cost and to overcome this high tooling cost, the company introduced the concept of tool cost management. High cost of tools, large tool inventory, and huge machine waiting time for receiving cutting tools were the main causes for high tooling cost. The company remained successful in reducing cost of tools, tool inventory, and machine waiting time for cutting tools. Tool cost management approach helped the industry in reducing the use of a variety of cutting tools by 44%, tool cost reduced by 33.6%, tool inventory lowered by 73.45% and machines waiting time for tools reduced by 77.8% within a period of three years.

Online publication date: Fri, 10-Jun-2022

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