Examlex
Briefly describe the advantages and disadvantages of using budgeting for performance evaluation?
Margin
Net operating income divided by sales.
Turnover
Sales divided by average operating assets.
Manufacturing Cycle Efficiency
A metric that measures the efficiency of the manufacturing process by comparing the value-added production time to the total production time.
Non-value-added Time
Time spent in the production process that does not contribute to the end product's value or quality, often targeted for reduction in lean manufacturing practices.
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