Examlex
Define conformity and provide an example.
Material Cost
The expense associated with raw materials and components needed for producing a product.
Average Flow Time
The average time that units spend in a production system, from arrival to departure, indicating the efficiency of the process.
Cycle Inventory
Inventory that is held to facilitate the smooth operation of a production cycle, compensating for lead times and production schedules.
Inventory Profile
A detailed outline or analysis of the types, amounts, and locations of inventory a company holds at any given time.
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