Which of the Following Statements Best Defines Manufacturing Cycle Time

question 7

Multiple Choice

Which of the following statements best defines manufacturing cycle time in a JIT production system?

• A) the time from when raw materials is received until it becomes a finished good
• B) the time from when an order is received until it becomes a finished good
• C) the time from when raw materials is received until it is delivered to the customers
• D) the time from when an order is received until it is delivered to the customers

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Definitions:

Risk Averse

Personality or preference indicating a tendency to avoid taking risks, preferring certainty or less risky options.

Income

The money received, especially on a regular basis, for work, through investments, or from benefits.

Utility Function

A mathematical representation that ranks an individual's preferences for various combinations of goods and services based on the level of satisfaction (utility) they provide.

Chocolate Factory

A production facility dedicated to the manufacturing of chocolate products from raw cocoa beans and other ingredients.