Sorry I mean I'd like to know the minimum distance between the bottom of the tool and the holder necessary to clear the top of the stock. Not the largely arbitrary (for our shop) number I put in the "length below holder" field.
"Hmm, this tool has a flute length of .5". Eh it's gonna stick out about .625"". That's how I treat that field as we're a job shop that breaks down our tools after just about every job. I only ever edit that field if I run a CAM simulation and there's a collision.
I don't measure how far my tool needs to go and then edit that field in the tool library. I choose an arbitrary number that allows the flute/coating to stick out the holder a bit, set that and forget about it.
If I specify a tool sticks out 1.5" in CAM but it only needs to stick out 1.433" to clear the part, I'm not going to edit the tool in the tool library as that's a waste of time that I'll inevitably need to change the next time I run that tool. If the CAM simulation shows a collision, I'll edit the field and have it stick out more in the tool library. If I run the simulation and there's no collision I could totally stick it out 1.5", but I'd rather stick it out 1.433" for slightly better tool life.
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