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RESEARCH PAPERS

Maximum Profit as the Criterion in the Determination of the Optimum Cutting Conditions

[+] Author and Article Information
S. M. Wu

Department of Mechanical Engineering, University of Wisconsin, Madison, Wis.

D. S. Ermer

Department of Industrial Engineering, The Pennsylvania State University, University Park, Pa.

J. Eng. Ind 88(4), 435-442 (Nov 01, 1966) (8 pages) doi:10.1115/1.3672678 History: Received December 17, 1965; Online December 08, 2011

Abstract

Maximum profit is an appropriate criterion for the selection of the optimum machining conditions rather than the conventional criteria of minimum cost or maximum production rate. A simple example is presented to illustrate the determination of the maximum-profit cutting speed by application of a fundamental economic principle that maximum profit occurs at the production rate where the marginal revenue equals the marginal cost. The effects of the demand function, feed, and cost and time parameters on the determination of the maximum-profit cutting speed are analyzed. Emphasis is given to the investigation of a range of optimum cutting speeds, instead of the theoretical optimum speed, for practical applications.

Copyright © 1966 by ASME
Topics: Cutting , Machining
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