Examlex
Discuss expectancy theory.
Lead Time
The time interval between the initiation of a process and its completion, often used in the context of supply chain and production.
Value-Added Time
The portion of the production process where value is actually added to the product or service, as perceived by the customer.
Non-Value-Added Time
Periods during a manufacturing or service process that do not contribute directly to the final value or product, such as waiting or movement times, which businesses aim to minimize.
Reducing Wait Time
The process of minimizing the amount of time customers or clients have to wait for service or product delivery.
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