In view of rhe global economy and competition, a major priority in produckt quality is the concept of continuous improvement as ezemplified by japanese term kaizen,meaning never ending improvement.Still the level of quality that a manufacturer chooses for its products depends on the market for whichthe products are intended.Low cost,low quality products have their own market niche,just as there is a market for high quality,expensive products,such as a high precision machine tool, a rolls royce automoile, a private airplane or yacht or sporting equipment.
(Kalpakjian, S., Schmid, S. R., Manufacturing Engineering and Technology, 5th ed., p. 1242)
Floor to floor time:
The direct labor cost is for the labor directly involved in manufacturing. This cost includes all labor from the time raw materials first are handled to time when the product is finished.this period generally is referred to as floor to floor time. For example, a machine operator picks up a round bar from a bin, machines it into the shape of a threaded rod, and places it into another bin.
(Kalpakjian, S., Schmid, S. R., Manufacturing Engineering and Technology, 5th ed., p. 1263)
Material Costs:
The cost of materials may be determined in terms of cost per unit weight or cost per unit volume.The benefit of cost volume can be seen by the following simple example. ın the design of the steel cantilevered rectengular beam supporting certain load at its end,a maximum deflection is specified. Using equations developed in mechanics of solids and assuming that the weight of the beam can be neglected,we can determine an appropriate cross section of the beam.Since all dimensions are known now, the volume of the beam can be calculated,and if we know the cost of material per unit volume , we can easily calculate the cost of the beam.
(Kalpakjian, S., Schmid, S. R., Manufacturing Engineering and Technology, 5th ed., p. 1249)
Lot size:
Depending on the type of product, the production quantity(lot size) varies widely.For example,bearings,bolts, spark plugs, ammunition,plastic containers,tires automobiles,and lawn mowers are produced in very large quantities.
(Kalpakjian, S., Schmid, S. R., Manufacturing Engineering and Technology, 5th ed., p. 1255)
I wrote the "lot size" but i dont know who define the term first. I just wanted to warn you.
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