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Production and manufacturing process deals with conversation of raw materials inputs to finished products as per required dimensions specifications and efficiently using recent technology. The metal cutting essential try for high metal removing rate and best product quality the major problem in achieving high productivity and best quality is short life span of tool. To enhance the tool life many new materials are developed. So it meet the market demand and competitive price for this there should be proper control over various cost involved in machining named as material cost, labour cost and tooling cost. The material cost can be controlled by using special material which meets all required properties with reduced price.