Economics is no different. Economists use many abbreviations. One of the most common is GDP, which stands for gross domestic product. It is often cited in newspapers, on the television news, and in reports by governments, central banks, and the business community.
The throughput, denoted byTH, is the averageoutput per unit time, e.g., number of widgets per hour. The inventory between the start and the end points of a production. system (not counting crib inventory or ï¬nished goods inventory) is called work-in-process (WIP). The cycle time (CT) of a given production system is the average time parts spend as WIP. The bottleneck rate rb is the rate of the process center having least long-term capacity. The raw. processing time To is the sum of the long-run average processing times of each workstation in the. routing.
Please Sign In or Register to like this blog. To measure the cycle time and process time required to complete a business process. This task measures activities across a business process (horizontal analysis) and within a job position (vertical analysis). Measure Cycle Time.