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Determine the average time for which the workstation is used.
Productive Inefficiency Cost
Costs incurred due to not utilizing resources in the most efficient way, leading to higher production costs or wasted resources.
External Failure Cost
Costs associated with defects found after the product is delivered to the customer, including returns and warranties.
Prevention Cost
Expenses incurred to avoid or minimize the number of defects in products, including costs associated with quality control and training.
Life Cycle Costing
An approach that considers all the costs associated with the lifecycle of a product or asset, from acquisition through disposal, aimed at understanding the total cost of ownership.
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