The Satin Manufacturing Company Collected the Following Information (In Days)for

question 89

Essay

The Satin Manufacturing Company collected the following information (in days)for July and August. $$\begin{array} { | l | r | r | } \hline & \text { July } & \text { August } \\\hline \text { Transporting product } & 2.0 & 3.0 \\\hline \text { Processing product } & 17.0 & 18.0 \\\hline \text { Inspecting product } & 0.5 & 1.2 \\\hline \text { Storing product } & 7.0 & 7.0 \\\hline\end{array}$$ Required:
a.Calculate the manufacturing cycle efficiency for July and August.b.Assume September's processing time will be the same as August's.If Satin's target for manufacturing cycle efficiency is 65%,what will be September's target for manufacturing cycle time?

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Definitions:

Equilibrium Level

The state of balance where demand equals supply in a market, resulting in an optimal distribution of resources without excess supply or demand.

Price Ceiling

A maximum legal price above which a product cannot be sold; to have an impact, a price ceiling must be set below the equilibrium price.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.

Shortage

A market condition characterized by the demand for a product exceeding its supply, often leading to increased prices.