An algorithm of performance evaluation for mould development

This paper presents algorithms on deciding the lead-time of a mould order and developing an evaluation method to examine the performance of the cycle time for mould developments. By using statistical hypothesis, a one-to-one mathematical algorithm governing the ratio of a project's completion on time is proposed. The performance evaluation of a factory mould development cycle time is constructed by using the algorithm. A formula based on some statistical hypothesis and performance index to determine the upper limit of lead-time, and a procedure to evaluate the performance of a factory mould development cycle is presented. It will let those who are not statistics-educated easily determine the lead-time to accept a mould order, and understand the performance of a factory dealing with the orders from the customers. A suggestion for modifying some determiners or design weights can quickly be obtained to promote the performance and reduce the cycle time for mould development in the future. An example for mould development performance is given to demonstrate the use of the index-based algorithm, and is proven to give good results according to the presented procedure.