|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;
The annual period over which budgets are prepared.
Repetitive cycles of economic expansion and recession.
Fluctuations of GDP around its long-run trend, consisting of recession, trough, expansion, and peak.
Reflects the relative amount of wealth wasted in making transactions. An efficient
The length of time between a firm's purchase of inventory and the receipt of cash
Period between firm’s payment for materials
In general, the time between cash disbursement and cash collection. In net working capital
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.
the use of computers to control production processes through numerically
the integration of two or more flexible manufacturing systems through the use of a host computer and an information networking system
The frequent, scheduled counting of a subset of all inventories,
the time between the placement of an order to
Reflects the amount of wasted energy.
a measure of the degree to which tasks were performed
The ability to produce the things most wanted at the least cost.
Wage that maximizes profits.
An expiration cycle relates to the dates on which options on a particular security expire. A
Related: pricing efficiency.
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
The speed and accuracy with which prices reflect new information.
The term for several manufacturing innovations that
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
Labor efficiency variance
The difference between the amount of time that was budgeted
life cycle costing
the accumulation of costs for activities that
An approach to costing that estimates and accumulates the costs of a product/service over
a linear or U-shaped production grouping of workers or machines
Manufacturing resource planning
An integrated, computerized system for planning
manufacturing resource planning (MRP II)
a fully integrated materials requirement planning system that involves
Manufacturing resource planning (MRP II)
An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of
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
overhead efficiency variance
the difference between total budgeted overhead at actual hours and total budgeted
The period of service for which a company compensates its employees.
Political Business Cycle
A business cycle caused by policies undertaken to help a government be re-elected.
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.
product life cycle
a model depicting the stages through
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 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
Market prices reflect all publicly available information.
Pricing efficiency, where the price of a, security reflects all information, whether or
Market prices rapidly reflect all information that could in principle be used to determine true value.
variable overhead efficiency variance
the difference between budgeted variable overhead based on actual input activity and variable overhead applied to production
Weak form efficiency
A form of pricing efficiency where the price of the security reflects the past price and
Market prices rapidly reflect all information contained in the history of past prices.
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