Is this high volume?
I don't have experience in the turning of metal parts but I do have it in the turret punch press part. We tried to keep 60% of the turret loaded with standard punches but had to monitor wear.
Our issues would be metal thickness (die clearance), type of metal (Cold-rolled steel, Stainless steel 304 & 316, and aluminum.
70% was CRS, 27% was SST, and 3% was aluminum.
Then we had to go into metal thickness (gauge) that was running.
During changeovers we would try to do a visual inspection, especially between types of metal or large jumps in metal thickness.
We ended up performing tooling changes on estimates and visual inspections/measurements. This was back in the early 80's and we were embarking in areas that no had tried much. At least to our knowledge with other fabricators in our area (no internet then).
I would think that an internet search of this would produce some valuable information to use for your guidelines. Why reinvent the wheel if you don't need to.