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Value-Added Ratio
A measure of a company's efficiency, calculating the proportion of time and resources that contribute directly to customer value.
Batch Size
The amount of production in units of product that is produced after a setup.
Prevention Costs
Expenses incurred to avoid or minimize the number of defects in products before they reach the customer.
Appraisal Costs
Costs associated with measuring and monitoring activities to ensure quality or compliance with standards, typically including testing and inspections.
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