I would say don't.
I tried this idea on a bunch of my tools 20 years ago using a high quality connector design that is smaller than the neutrik and very reliable
I've gradually returned them all to captive, extra long, H05 or H07 grade rubber flex.
The issue is that a connector, however good, on the cord close to the tool tends to catch on the edges of your work and your bench.
Having the connector built into the tool doesn't create this issue.
It's an appealing idea but "been there, done that, wasn't convinced".
Spend less money replacing the factory PVC mains cables with longer ones made from 2 or 3 core H07RNF rubber in the correct cross sectional area. They don't cost much, handle well and make a corded tool nicer to use.