The Time from the Start of a Production to the Shipment

question 49

Multiple Choice

The time from the start of a production to the shipment of the product to the customer is referred to as

• A)Manufacturing cycle time.
• B)Throughput time.
• C)Delivery cycle time.
• D)Either manufacturing cycle time or throughput time,but not delivery cycle time.

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Definitions:

Consumer Surplus

The variance between the total sum consumers are ready and capable of paying for a product or service versus what they genuinely spend.

New Buyers

Refers to individuals or entities entering the market as consumers for the first time, contributing to increased demand.

Market Entry

The strategy or process by which a company enters a new market or industry, which can include establishing new operations or acquiring an existing business.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from trade.