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What is the Concurrent Engineering Approach and why should project managers be aware of it?
Setup Costs
Expenses associated with preparing equipment, systems, or processes for a new production run or activity.
Lead Time
The time interval from when an order is placed until it is received and available for use or sale.
MPS
Master Production Schedule, a plan for individual commodities to be produced in each time period, such as production, staffing, inventory.
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