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The "beauty myth" refers to the idea that
Manufacturing Cycle Efficiency
A metric that measures the efficiency of the manufacturing process, calculated as the value-added time divided by the total cycle time.
Non-Value-Added
Activities or processes that do not add value to the product or service from the customer's perspective, leading to unnecessary costs.
Delivery Cycle Time
The total time taken from when a customer order is placed until the order is delivered, including all processing, manufacturing, and shipping times.
Residual Income
The amount of income generated after all expenses and costs have been deducted from total revenues, often used in performance evaluation.
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