Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins

Exercise 78

Define the terms customer-response time, manufacturing-lead (manufacturing cycle) time, and cycle time efficiency (also known as throughput time ratio or process cycle efficiency).

Step 1 of 2

Quality is an attribute of a good which helps in measuring and judging the performance of the good. Quality as a concept is many times subjective in nature and depends upon the perception and judgement of the person. It is associated with customer satisfaction with respect to experience of using the good. It can be measured as difference between and expected and actual performance of good.