|manufacturing cycle efficiency (MCE)|
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Definition of manufacturing cycle efficiency (MCE)
manufacturing cycle efficiency (MCE)
a ratio resulting from dividing the actual production time by total lead time;
Repetitive cycles of economic expansion and recession.
Capital market efficiency
Reflects the relative amount of wealth wasted in making transactions. An efficient
Cash conversion cycle
The length of time between a firm's purchase of inventory and the receipt of cash
In general, the time between cash disbursement and cash collection. In net working capital
Reflects the amount of wasted energy.
An expiration cycle relates to the dates on which options on a particular security expire. A
Related: pricing efficiency.
The speed and accuracy with which prices reflect new information.
The period between the 2 latest highs or lows of the S&P 500, showing net performance of a
Marketplace price efficiency
The degree to which the prices of assets reflect the available marketplace
The average time intervening between the acquisition of materials or services and the final
Also called external efficiency, a market characteristic where prices at all times fully
The time it takes to bring new and/or improved products to market.
The frequency with which an asset is replaced by an equivalent asset.
Semi-strong form efficiency
A form of pricing efficiency where the price of the security fully reflects all
Pricing efficiency, where the price of a, security reflects all information, whether or
Weak form efficiency
A form of pricing efficiency where the price of the security reflects the past price and
The annual period over which budgets are prepared.
An approach to costing that estimates and accumulates the costs of a product/service over
computer-aided manufacturing (CAM)
the use of computers to control production processes through numerically
computer integrated manufacturing (CIM)
the integration of two or more flexible manufacturing systems through the use of a host computer and an information networking system
the time between the placement of an order to
a measure of the degree to which tasks were performed
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
just-in-time manufacturing system
a production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to
labor efficiency variance
the number of hours actually worked minus the standard hours allowed for the production
life cycle costing
the accumulation of costs for activities that
a linear or U-shaped production grouping of workers or machines
manufacturing resource planning (MRP II)
a fully integrated materials requirement planning system that involves
overhead efficiency variance
the difference between total budgeted overhead at actual hours and total budgeted
product life cycle
a model depicting the stages through
variable overhead efficiency variance
the difference between budgeted variable overhead based on actual input activity and variable overhead applied to production
The term for several manufacturing innovations that
Labor efficiency variance
The difference between the amount of time that was budgeted
Manufacturing resource planning (MRP II)
An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of
cash conversion cycle
Period between firm’s payment for materials
Market prices reflect all publicly available information.
Market prices rapidly reflect all information that could in principle be used to determine true value.
Market prices rapidly reflect all information contained in the history of past prices.
Fluctuations of GDP around its long-run trend, consisting of recession, trough, expansion, and peak.
The ability to produce the things most wanted at the least cost.
Wage that maximizes profits.
Political Business Cycle
A business cycle caused by policies undertaken to help a government be re-elected.
Real Business Cycle Theory
Belief that business cycles arise from real shocks to the economy, such as technology advances and natural resource discoveries, and have little to do with monetary policy.
The period of service for which a company compensates its employees.
The frequent, scheduled counting of a subset of all inventories,
Manufacturing resource planning
An integrated, computerized system for planning
The length of time between a purchase of materials and collection of accounts receivable generated by the sale of the products made from the materials.
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