A focused factory is a form of production operation limited to a very small number of products aimed at a specific target market. This approach necessitates a smaller investment and facilitates the development of greater expertise compared to a more diversified manufacturing operation.
Explores the concept of idle capacity variance, a key metric in understanding the efficiency and utilization of resources in manufacturing and service settings.
Just-In-Time (JIT) techniques are inventory management strategies designed to increase efficiency and reduce waste through the timely knowledge and handling of materials.
A measurement of production in terms of the time taken for a machine operation to complete a given amount of production.
A method of dividing the productive procedures in a manufacturing organization into organizational segments to optimize efficiency and specialization.
A detailed directive issued to the production department specifying the production tasks to be completed, including operations, quantities, timelines, and completion deadlines essential for streamlined manufacturing processes and efficient resource utilization.
The time taken to prepare a machine, process, or operation to carry out production. It may involve such operations as tool setting, calibration, and the initialization of the production process.
The unit standard production cost is the cost per unit of production, incorporating all standard overheads, direct labor, and direct materials, used to measure efficiency and control costs in manufacturing.
