Examlex
Explain the meaning of the term takt time, and use a numerical example to illustrate.
Yield
The income return on an investment, expressed as a percentage of the investment’s cost or current value.
Applied Factory Overhead
The allocation of factory overhead costs to units produced, based on a predetermined rate or method.
Direct Materials
Raw materials that can be directly attributed to the production of a specific product, constituting a significant part of manufacturing cost.
Continuous Process
A production system where materials are processed and manufactured in a non-stop, consistent manner.
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