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Takt time, or simply takt, is a manufacturing term to describe the required product assembly duration that is needed to match the demand.Often confused with cycle time, takt time is a tool used to design work and it measures the average time interval between the start of production of one unit and the start of production of the next unit when items are produced sequentially.
In business and for engineering economics in both industrial engineering and civil engineering practice, the minimum acceptable rate of return, often abbreviated MARR, or hurdle rate is the minimum rate of return on a project a manager or company is willing to accept before starting a project, given its risk and the opportunity cost of forgoing other projects. [1]
In the long run, all factors of production are variable and subject to change in response to a given increase in production scale. In other words, returns to scale analysis is a long-term theory because a company can only change the scale of production in the long run by changing factors of production, such as building new facilities, investing ...
For specific project, location, or conditions the productivity factor is 0.80. The resulting production rate for that is 150 x 0.8 = 120 cy/day. The actual productivity factor for a project or subset of production rates (or man-hour rates) is the ratio of the actual production rate to the estimated production rate.
Ready to begin low rate production. Detailed system design essentially complete and sufficiently stable to enter low rate production. All materials are available to meet planned low rate production schedule. Manufacturing and quality processes and procedures proven in a pilot line environment, under control and ready for low rate production.
The tendency to exploit economies of scale entails a continuous increase in the volume of production which, in turn, requires a constant expansion of the size of the market. [30] However, if the market does not expand at the same rate as production increases, overproduction crises can occur.
MOPU – mobile offshore production unit (to describe jack-up production rig, or semi-submersible production rig, or floating production, or storage ship) MOT – materials/marine offloading terminal; MOV – motor operated valve; MPA – micropalaeo analysis report; MPD – managed pressure drilling; MPFM – multi-phase flow meter
Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project. The construction manager offers impartial advice on matters such as: Optimum use of available funds; Control of the scope of the work; Project scheduling