Examlex
A firm fixed price (FFP)contract is an agreement to pay a price that varies depending on when the items (services)specified by the contract have been delivered (completed)and accepted.
Tightly Controlled
Describes systems or processes that are managed with strict regulations or rules to ensure desired outcomes.
Setup Time
The duration required to prepare or adjust equipment before a production process begins, minimizing this time can increase efficiency.
Production Order Quantity
The optimum quantity of goods a company should order for production which minimizes total inventory costs.
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