A system manages a machine tool operation. The system includes a cutting tool, which includes a tool body; an integrated circuit chip securely mounted within the tool body and capable of being read and written upon; and a read/write device for communicating with the integrated circuit chip. The inte
A system manages a machine tool operation. The system includes a cutting tool, which includes a tool body; an integrated circuit chip securely mounted within the tool body and capable of being read and written upon; and a read/write device for communicating with the integrated circuit chip. The integrated circuit chip is an RFID chip. The tool body may be a mounting chuck, adapter, twist drill, thread tap, indexable drill, milling cutter or a square shank lathe tool.
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1. A cutting tool for machining a workpiece, the tool comprising: a) a tool body; andb) an integrated circuit chip securely mounted to the tool body and capable of being read and written upon,wherein the integrated circuit chip is a read/write RFID chip, and wherein the integrated circuit chip has w
1. A cutting tool for machining a workpiece, the tool comprising: a) a tool body; andb) an integrated circuit chip securely mounted to the tool body and capable of being read and written upon,wherein the integrated circuit chip is a read/write RFID chip, and wherein the integrated circuit chip has written thereupon data identifying prior usage of the tool for one or more machining operations, wherein the data is made up of cumulative cutting tool operation time used to determine remaining cutting tool life. 2. The cutting tool according to claim 1, wherein the RFID chip is mounted within the tool body such that the chip is at least partially exposed to an exterior of the tool body. 3. The cutting tool according to claim 1, wherein the integrated circuit chip is secured within the tool body by non-conductive and heat resistant polymer resin or epoxy. 4. The cutting tool according to claim 1, wherein the integrated circuit chip is encoded with operational data for the cutting tool, the operational data being selected from the group consisting of: cutting speed and feed data for optimal machining, cutting tool size, cutting tool weight, cutting tool grade, engineering drawings or sketches of the cutting tool, data for regrinding of the cutting tool, material composition of the cutting tool, a Materials Safety Data Sheet (MSDS), tool tracking data, traceability data, tool identification number, maximum tool life data, optimal tool application/usage data, tool specific notes, and combinations thereof. 5. The cutting tool according to claim 1, wherein the integrated circuit chip includes additional data regarding usage of the cutting tool, the data regarding prior usage directed to characteristics of machining operations utilizing the cutting tool. 6. The cutting tool according to claim 1, wherein the RFID chip is embedded in a capsule and is capable of being remotely read and written upon. 7. The cutting tool according to claim 6, wherein the tool body includes an axially extending bore extending from an end of the tool body along an axis of the cutting tool and wherein the RFID chip is securely mounted within the axially extending bore. 8. The cutting tool according to claim 7, wherein the tool body further includes a plurality of radially extending slots extending outward from the axially extending bore to a side of the tool body. 9. The cutting tool according to claim 1, wherein the RFID chip is an antenna-less RFID chip comprising at least one electrical contact and capable of being read or written upon via the at least one electrical contact. 10. The cutting tool according to claim 9, wherein the tool body includes a transverse groove extending across an end thereof and wherein the RFID chip is securely mounted within the transverse groove such that a portion of the chip is disposed flush with the end of the tool body. 11. The cutting tool according to claim 9, wherein the tool body includes a longitudinally extending groove extending within a side of the tool body from an end thereof and wherein the RFID chip is securely mounted within the longitudinally extending groove such that a portion of the chip is disposed flush with the side of the tool body. 12. The cutting tool according to claim 9, wherein the tool body includes a flat recessed portion formed in a side thereof and a cavity formed within the flat recessed portion of the tool body and wherein the RFID chip is securely mounted within the cavity such that a portion of the chip is disposed flush with the flat recessed portion of the tool body, the at least one electrical contact of the chip extending radially from the chip away from the flat recessed portion of the tool body. 13. The cutting tool according to claim 12, wherein the at least one electrical contact comprises two electrical contacts arranged side-by-side on the RFID chip. 14. A system for managing a machine tool operation, comprising: a) a cutting tool, the cutting tool including a tool body;b) an integrated circuit chip securely mounted within the tool body and capable of being read and written upon; andc) a read/write device for communicating with the integrated circuit chip,wherein the integrated circuit chip is a read/write RFID chip, andwherein the integrated circuit chip is a read/write RFID chip, and wherein the integrated circuit chip has written thereupon data identifying prior usage of the tool for one or more machining operations, wherein the data is made up of cumulative cutting tool operation time used to determine remaining cutting tool life. 15. The system according to claim 14, wherein the RFID chip is mounted within the tool body such that the chip is at least partially exposed to an exterior of the tool body. 16. The system according to claim 14, wherein the integrated circuit chip is secured within the shank by non-conductive and heat resistant polymer resin or epoxy. 17. The system according to claim 14, wherein the integrated circuit chip is encoded with operational data for the cutting tool and is capable of transmitting the operational data to the read/write device, the operational data being selected from the group consisting of: cutting speed and feed data for optimal machining, cutting tool size, cutting tool weight, cutting tool grade, engineering drawings or sketches of the cutting tool, data for regrinding of the cutting tool, material composition of the cutting tool, a Materials Safety Data Sheet (MSDS), tool tracking data, traceability data, tool identification number, maximum tool life data, optimal tool application/usage data, tool specific notes, and combinations thereof. 18. The system according to claim 14, wherein the integrated circuit chip is written upon by the read/write device with additional data regarding usage of the cutting tool, wherein the data regarding prior usage is directed to characteristics of machining operations utilizing the cutting tool. 19. The system according to claim 14, wherein the RFID chip is embedded in a capsule and is capable of being remotely read and written upon by the read/write device. 20. The system according to claim 19, wherein the tool body includes an axially extending bore extending from an end of the tool body along an axis of the cutting tool and wherein the RFID chip is securely mounted within the axially extending bore. 21. The system according to claim 20, wherein the tool body further includes a plurality of radially extending slots extending outward from the axially extending bore to a side of the tool body. 22. The system according to claim 14, wherein the RFID chip is an antenna-less RFID chip comprising at least one electrical contact and capable of being read or written upon by the read/write device via the at least one electrical contact. 23. The system according to claim 22, wherein the read/write device includes a touch sensor having at least one probe adapted to engage the at least one electrical contact on the RFID chip so as to establish a direct link between the RFID chip and the read/write device. 24. The system according to claim 22, wherein the tool body includes a transverse groove extending across an end thereof and wherein the RFID chip is securely mounted within the transverse groove such that a portion of the chip is disposed flush with the end of the tool body. 25. The system according to claim 22, wherein the tool body includes a longitudinally extending groove extending within a side of the tool body from an end thereof and wherein the RFID chip is securely mounted within the longitudinally extending groove such that a portion of the chip is disposed flush with the side of the tool body. 26. The system according to claim 22, wherein the tool body includes a flat recessed portion formed in a side thereof and a cavity formed within the flat recessed portion of the tool body and wherein the RFID chip is securely mounted within the cavity such that a portion of the chip is disposed flush with the flat recessed portion of the tool body, the at least one electrical contact of the chip extending radially from the chip away from the flat recessed portion of the tool body. 27. The system according to claim 26, wherein the at least one electrical contact comprises two electrical contacts arranged side-by-side on the RFID chip. 28. The system according to claim 14, further comprising: a machine tool for performing a machining operation with the cutting tool; anda controller for controlling operation of the machine tool,wherein the controller receives operational data for the cutting tool from the read/write device. 29. The system according to claim 28, wherein the read/write device is adapted to establish communication links with the RFID chip and the controller for receiving operational data for the cutting tool from the RFID chip and transmitting the operational data for the cutting tool to the controller for programming of the controller. 30. The system according to claim 29, wherein the read/write device receives data regarding usage of the cutting tool from the controller and writes the data regarding usage of the cutting tool to the RFID chip. 31. The system according to claim 28, wherein the read/write device is adapted to establish communication links with the RFID chip, the controller and a remote database for receiving a unique tool identification from the RFID chip, transmitting the unique tool identification to the remote database and receiving operational data for the cutting tool from the remote database, and transmitting the operational data for the cutting tool to the controller for programming of the controller. 32. The system according to claim 31, wherein the read/write device is further adapted to receive data regarding usage of the cutting tool from the controller, transmit the data regarding usage of the cutting tool to the remote database, and write the data regarding usage of the cutting tool to the RFID chip. 33. The system according to claim 28, wherein the read/write device communicates continuously with the RFID chip and the controller so as to provide real-time tool feedback to the controller during a machining operation. 34. The system according to claim 14, wherein the read/write device is disposed within a reading head disposed on a block forming part of a holder for the tool body. 35. The system according to claim 14, further comprising an automated tool management system for storing and dispensing a plurality of cutting tools, wherein the read/write device communicates with the tool management system to sort the plurality of cutting tools and track cutting tool locations. 36. A method for managing a machine tool operation, comprising the steps of: a) providing a cutting tool, the cutting tool including a tool body;b) providing an integrated circuit chip securely mounted within the tool body and capable of being read and written upon, wherein the integrated circuit chip is a read/write RFID chip;c) providing a read/write device for communicating with the integrated circuit chip;d) establishing a communication link between the chip and the read/write device; ande) uploading data regarding the cutting tool from the integrated circuit chip to the read/write devicef) providing a machine tool for performing a machining operation with the cutting tool;g) providing a controller for controlling operation of the machine tool;h) establishing a communication link between the read/write device and the controller;i) transmitting operational data for the cutting tool from the read/write device to the controller;j) programming the controller to control an operation of the machine tool based upon the operational data for the cutting tool;k) transmitting data regarding usage of the cutting tool from the controller to the read/write device; andl) writing the data regarding usage of the cutting tool to the integrated circuit chip with the read/write device;wherein the data regarding usage of the cutting tool is selected from the group consisting of: cutting tool operation time, remaining cutting tool life information, cutting tool wear and failure information. 37. The method according to claim 36, wherein the RFID chip is mounted within the tool body such that the chip is at least partially exposed to an exterior of the tool body. 38. The method according to claim 36, wherein the communication link between the integrated circuit chip and the read/write device is a remote radio link. 39. The method according to claim 36, wherein the communication link between the chip and the read/write device is a direct link formed by an engagement between at least one electrical contact disposed on the integrated circuit chip and a probe operatively associated with the read/write device. 40. The method according to claim 36, wherein the operational data for the cutting tool is selected from the group consisting of: cutting speed and feed data for optimal machining, cutting tool size, cutting tool weight, cutting tool grade, engineering drawings or sketches of the cutting tool, data for regrinding of the cutting tool, material composition of the cutting tool, a Materials Safety Data Sheet (MSDS), tool tracking data, traceability data, tool identification number, maximum tool life data, optimal tool application/usage data, tool specific notes, and combinations thereof. 41. The method according to claim 36, wherein the data regarding the cutting tool includes the operational data for the cutting tool, which is encoded on the integrated circuit chip. 42. The method according to claim 36, wherein the data regarding the cutting tool includes a unique tool identification. 43. The method according to claim 42, wherein, prior to the step of transmitting operational data for the cutting tool to the controller, the method further comprises the steps of: establishing a communication link between the read/write device and a remote database; transmitting the unique tool identification from the read/write device to the remote database; and uploading the operational data from the remote database to the read/write device. 44. The method according to claim 36, further comprising the step of: m) transmitting the data regarding usage of the cutting tool to a remote database with the read/write device. 45. The method according to claim 36, wherein the steps of transmitting operational data for the cutting tool to the controller, transmitting data regarding usage of the cutting tool from the controller to the read/write device, and writing the data regarding usage of the cutting tool to the integrated circuit chip with the read/write device are performed continuously during a machining operation. 46. The method according to claim 36, wherein the data regarding usage of the cutting tool is directed to characteristics of machining operations utilizing the cutting tool, and combinations thereof. 47. The cutting tool according to claim 1, wherein the tool body is a rotating tool with a shank and the integrated circuit chip is mounted within the shank. 48. The cutting tool according to claim 47, wherein the tool body is a twist drill. 49. The cutting tool according to claim 47, wherein the tool body is a thread tap. 50. The cutting tool according to claim 47, wherein the tool body is an indexable drill. 51. The cutting tool according to claim 1, wherein the tool body is a milling cutter. 52. The cutting tool according to claim 1, wherein the tool body is a square shank lathe tool. 53. The cutting tool according to claim 1, wherein the tool body is a cutting insert. 54. The system according to claim 14, wherein the tool body is a rotating tool with a shank and the integrated circuit chip is mounted within the shank. 55. The system according to claim 14, wherein the tool body is a milling cutter. 56. The system according to claim 14, wherein the tool body is a square shank lathe tool. 57. The system according to claim 14, wherein the tool body is a cutting insert. 58. The system according to claim 14, further including a mounting chuck for holding the tool body and wherein the read/write device is mounted within the mounting chuck. 59. The system according to claim 14, further including an adapter system for holding the tool body and wherein the read/write device is mounted within the adapter system. 60. The method according to claim 36, wherein the tool body is a rotating tool with a shank and the integrated circuit chip is mounted within the shank. 61. The method according to claim 36, wherein the tool body is a milling cutter. 62. The method according to claim 36, wherein the tool body is a square shank lathe tool. 63. The method according to claim 36, wherein the tool body is a cutting insert. 64. A cutting tool for machining a workpiece, the tool comprising: a) a tool body having a shank; andb) an integrated circuit chip securely mounted within the shank of the tool body and capable of being read and written upon,wherein the integrated circuit chip is an RFID chip and wherein the RFID chip is an antenna-less RFID chip comprising at least one electrical contact and capable of being read or written upon via the at least one electrical contact, andwherein the tool body includes a flat recessed portion formed in a side thereof and a cavity formed within the flat recessed portion of the tool body and wherein the RFID chip is securely mounted within the cavity such that a portion of the chip is disposed flush with the flat recessed portion of the tool body, the at least one electrical contact of the chip extending radially from the chip away from the flat recessed portion of the tool body. 65. The cutting tool according to claim 64, wherein the at least one electrical contact comprises two electrical contacts arranged side-by-side on the RFID chip. 66. A system for managing a machine tool operation, comprising: a) a cutting tool, the cutting tool including a tool body having a shank;b) an integrated circuit chip securely mounted within the shank of the tool body and capable of being read and written upon; andc) a read/write device for communicating with the integrated circuit chip,wherein the integrated circuit chip is an RFID chip and wherein the RFID chip is an antenna-less RFID chip comprising at least one electrical contact and capable of being read or written upon by the read/write device via the at least one electrical contact, andwherein the read/write device includes a touch sensor having at least one probe adapted to engage the at least one electrical contact on the RFID chip so as to establish a direct link between the RFID chip and the read/write device. 67. The system according to claim 66, wherein the tool body includes a flat recessed portion formed in a side thereof and a cavity formed within the flat recessed portion of the tool body and wherein the RFID chip is securely mounted within the cavity such that a portion of the chip is disposed flush with the flat recessed portion of the tool body, the at least one electrical contact of the chip extending radially from the chip away from the flat recessed portion of the tool body. 68. The system according to claim 67, wherein the at least one electrical contact comprises two electrical contacts arranged side-by-side on the RFID chip. 69. A system for managing a machine tool operation, comprising: a) a cutting tool, the cutting tool including a tool body having a shank;b) an integrated circuit chip securely mounted within the shank of the tool body and capable of being read and written upon;c) a read/write device for communicating with the integrated circuit chip,wherein the integrated circuit chip is an RFID chip; andd) an automated tool management system for storing and dispensing a plurality of cutting tools, wherein the read/write device communicates with the tool management system to sort the plurality of cutting tools and track cutting tool locations. 70. A method for managing a machine tool operation, comprising the steps of: a) providing a cutting tool, the cutting tool including a tool body having a shank;b) providing an integrated circuit chip securely mounted within the shank of the tool body and capable of being read and written upon, wherein the integrated circuit chip is an RFID chip;c) providing a read/write device for communicating with the integrated circuit chip;d) establishing a communication link between the chip and the read/write device, wherein the communication link between the chip and the read/write device is a direct link formed by an engagement between at least one electrical contact disposed on the integrated circuit chip and a probe operatively associated with the read/write device; ande) uploading data regarding the cutting tool from the integrated circuit chip to the read/write device. 71. A method for managing a machine tool operation, comprising the steps of: a) providing a cutting tool, the cutting tool including a tool body;b) providing an integrated circuit chip securely mounted within the tool body and capable of being read and written upon, wherein the integrated circuit chip is a read/write RFID chip;c) providing a read/write device for communicating with the integrated circuit chip;d) establishing a communication link between the chip and the read/write device; ande) subsequent to using the cutting tool in a machining operation, writing data identifying prior usage of the tool for one or more machining operations, wherein the data is made up of cumulative cutting tool operation time used to determine remaining cutting tool life.
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