Designing Machine Tools to Minimize Life Cycle Cost

Abstract

This paper describes a methodology used in the design of manufacturing machines to minimize life cycle cost. Life cycle costs include design, construction, installation, planned maintenance, repair, disposal and lost production caused by breakdowns. Studies have suggested that maintenance accounts for half of life cycle cost, and the primary focus of this methodology is to reduce repair and maintenance costs. This methodology has on average resulted in a 10 percent savings in capital investment, a 50 percent reduction in lifetime maintenance costs and a significant improvement in up-time.