The Total Time a Product Is in Production, Including Process

question 114

Multiple Choice

The total time a product is in production, including process time, inspection time, wait time, and move time, is called:

• A) efficiency time.
• B) manufacturing cycle time.
• C) customer response time.
• D) value-added time.

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Definitions:

Value Chain Analysis

A strategic analysis tool used to identify the activities within a company that create value and those that could be improved to provide competitive advantage.

Support Roles

Positions within an organization designed to assist and enable the main functions or activities to perform more efficiently.

Primary Roles

Fundamental responsibilities or functions assigned to an individual or entity in a specific context.

Location Economies

Cost advantages achieved by a firm due to its geographical location, influencing factors like production, logistics, and access to markets or resources.