1. RAM BABU VERMAA - Department of Production Engineering, Birla Institute of Technology, Mesra, Ranchi, India.
2. SANJAY KUMAR JHAâ€‹ - Department of Production Engineering, Birla Institute of Technology, Mesra, Ranchi, India.
In order to survive and remains stay competitive in present business situation, tool and die making firms have to ensure consistency in their operational processes to minimize their manufacturing cost and lead-time. Firms to achieve a consistent manufacturing process sequence in tool and die production must implement standardization. Tooling firms have one hand pressure to reduce leadtime in other hand to minimize manufacturing cost by maintaining quality. It is observed that traditional tool costing have error almost in between +/- 30 percent, provided similar mold and die not manufactured. The paper investigates a sector-specific application of standardization in tool and dies manufacturing industry to improve their business performance. Conducted case study compares the difference between traditional and standardized tool manufacturing of different types of dies. Post study result revealed the saving in manufacturing time is 22.87 percentage and cost 18.56 percentage while standardization applied. The study carried out at various tool-manufacturing companies and obtained results clearly indicate that enterprises performance significantly improved. The firms benefitted in terms of lead-time reduction and overall cost saving after implementation of standardization.
Standardization, Process flow, MSME, Die and Mold, Conventional machining