In a previous study, we began the process of examining how finite tooling resources affect the operation of a simulated job shop. The paper extends this line of research by focusing on the problem of how to schedule a shop operating with both finite machine and tooling resources, and faced by varying levels of tooling-related sequence dependency in the setups. Four tool assignment rules and two dispatching procedures are evaluated. Findings show the importance of using tool assignment rules which consider not only tool-related information such as tool availability but also the priority of the jobs waiting to be processed. Specifically, as the level of sequence dependence increases and the availability of tooling decreases, the performance of the shop is greatly influenced by the tool assignment rule used to manage the flow of tooling to and from work centres