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Hummel is a line of figurines based on the artistic style of German nun Maria Innocentia Hummel and have become a collector's item. The Hummel figurines are almost uniformly "cute." Lukas, Felix, Anya, and Hannah sell Hummel figurines through the internet. Their willingness to sell price for one figurine is: Lukas $240, Felix $180, Anya $150, Hannah $130. Suppose the price of a Hummel figurine is $150, who will sell their figurine?
Throughput
The rate at which a system generates its products or services over a specific period.
Manufacturing Cycle Time
The total time required to manufacture a product, from the start of the production process to its completion.
Kanban
A scheduling system for lean manufacturing and just-in-time production, which uses visual cues to signal steps in the production process.
JIT Environment
A production strategy that aims to reduce times within the production system as well as response times from suppliers and to customers, characterized by just-in-time inventory management.
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