Paper Title
Comparison and Optimisation of LCC for a Milling Machine Spindle

The Life Cycle Cost (LCC) includes the cumulative monetary effect accrued by a specific component or machine during its life span of usage, right from its design to its disposal. The Life Cycle Cost for a Milling Machine Spindle is divided widely into four stages namely, the design phase, manufacturing phase, the operation & maintenance phase, and the disposal phase. These phases come along with their respective costs associated with the specific component of the machine selected; in this case- spindle. The costs can further be classified into two categories i.e., one time costs and repetitive costs. the one-time costs are accrued by the component only once such as The R&D cost or The design fabrication cost whereas, repetitive costs are accrued over and over during the whole operation like the machining costs and transportation costs. The calculation of theoretical costs provides a reference for comparison and the methods/ concepts employed include weighted average method, probability distribution method, and Delphi method. The methods employed to accumulate the theoretical costs mostly included Delphi Method and the one employed in the optimization of the same includes regression/ control analysis by Graphical Method. The values obtained from the regression/ control analysis are termed to be as the optimum values for the LCC of the selected component i.e., spindle. The analysis and research for the same were aimed at collecting the theoretical and practical values of the various costs of the selected component and providing a comparison of both. Thereafter, the optimization techniques are applied in order to find and confirm a hypothesis regarding the same, it exists. Keywords - LCC (Life Cycle Cost), Spindle, Milling Machine, Weighted Average, Probability Distribution, Delphi Method, Regression Analysis, Phases of Life Span, MTBF (Mean Time Between Failures), MTTR (Mean Time To Repair).