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Chapter 2: Question 11PE. (page 294)

What is the mathematical relationship between time and units in a process?

Short Answer

Expert verified

Answer

Inventory, often known as stock, pertains to the items as well as supplies that a company keeps for resale, manufacturing, as well as use.

Step by step solution

01

 Inventory

Inventory pertains to all the products, commodities, and commerce, including materials held by a company to resell in the markets for revenue.

02

Flow time

The average amount of time it takes a unit to complete a procedure. A flow time is the duration of time a flowing unit spends in a commercial operation from start to finish is known as flow time.

03

Throughput rate

The expected output level of the procedure for a certain period. The rate at which a business manufactures as well as produces its goods, as well as offerings, is known as the throughput rate.

04

The mathematical relationship between time and units in a process

Themathematical formula is given below:

Inventory=Throughputrate脳Flowtime

Inventory=Throughputrate脳Flowtime

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