Tool Life Calculator
According to a study by Sandvik, cutting tools represent only 3% of the cost to produce a machined part.
INSTRUCTIONS: The slices of this pie chart show the typical costs of a machined part, both fixed and variable. Move the Productivity Increase slider to the right, to about 50%. The red slice grows very large, showing an overall savings of 40%. Now, move the left slider bar to the right to -50% effectively cutting the tool life in half. The red slice still remains quite large, This illustrates tool life may not be the right metric to track, but how it well a tool performs that makes the largest impact.