A device, which holds, locates a workpiece, guides and controls one or more cutting tools is called-

Explanation:

Jigs and fixtures are production tools used to accurately manufacture duplicate and interchangeable parts.

Jigs and fixtures are specially designed so that large numbers of components can be machined or assembled identically, and to ensure interchangeability of components.

Jigs

• A jig is a special device which holds, supports, locates and also guides the cutting tool during operation
• Jigs are designed to accommodate one or more components at a time
• Jigs are available for drilling or boring

Fixtures

• A fixture is a production tool that locates and holds the work-piece
• It does not guide the cutting tools, but the tools can be positioned before cutting with the help of setting blocks and feeler gauges etc
• Fixtures of different types are made for milling, turning, grinding, welding, bending etc

Purpose of Jigs and Fixture:

• To reduce the cost of production, as their use eliminates the laying out of work ( marking, punching, positioning, alignments etc.) and setting up of tools
• To increase the production
• To assure high accuracy of the parts
• Increase in interchangeability
• Reduce quality control expenses
• To reduce the operator’s labour and skill requirement