How to calculate the benefit of quick mold change for plastic injection molding has become a vague concept. When talking about quick mold change, there are several methods, which usually include hydraulic mold change and magnetic mold change. So today we are going to talk about which way of calculation is more reasonable for you. But we are sure there are other ways of calculation.
Take the magnetic quick mold change and hydraulic mold change for example. Before quick mold change, it took 3 hours and 3~4 workers to change the mold of a 250-ton injection molding machine. After the improvement, it only takes 5 minutes and 1~2 people to change the mold with magnetic mold change, saving 2 hours and 55 minutes, and 2 human labor. While it takes 30 minutes with hydraulic mold change and 1~2 workers, saving 2 hours 30 minutes and 2 human labor. How will you calculate the benefit of the improvement respectively?
1. We need to consider the improved benefit: time, human labor, and maintenance fees saved.
Time saved per time x number of reductions per year = time saved per year. Annual time savings x unit price of time, which can be converted to annual savings and easily compared with other improvements.
Human labor cost saved per month x 12 = annual labor cost savings.
You can also transform the time reduction into an OEE improvement, which in turn translates into an increase in the number of equipment (virtualization).
The maintenance fee for a magnetic mold clamping system is almost zero since the magnetic platens have a stable internal structure and electricity consumption is low. While the maintenance for hydraulic mold clamping system will be higher.
Both magnetic and hydraulic mold change can save energy compared to the old mechanical bolts mold change. So the original maintenance fee – the present maintenance fee = the maintenance fee savings.
2. We need to take into account the cost of quick mold change system acquisition.
Usually, the magnetic quick mold change system is more expensive than hydraulic mold clamping as it is the most advanced mold change method in the world. Now we can calculate the benefit of both quick mold change solutions by this: Total benefit = time cost savings + human labor cost savings + maintenance fee savings – the cost of the solution acquisition
Do you want to know how long it takes to pay for yourself after purchasing a quick mold change system? If you’re interested in how to calculate the benefit of quick mold change for plastic injection molding, please contact us. We HVR MAG have been focusing on electro-permanent magnet, providing professionial magnetic mold clamping system. If you have any good ideas about the benefit calculation, please also contact us at: firstname.lastname@example.org or just leave a comment.