Compute the following measures for 2021 and 2023: a. actual velocity and cycle time (2021 and 2023) (My question: In the book it stated that Actual Velocity (# units produced/time) and Cycle Time (time/# units produced) However, which one is per hour and per minute Or maybe I wrong let me know?) b. Percentage of total revenue from new customers (2021 and 2023) (assume one unit per customer) c. Percentage of very satisfied customers (2021 and 2023) (assume each customer purchases one unit)
At the end of 2021, Mejorar Company implemented a low-cost strategy to improve its competitive position. Its objective was to become the low-cost producer in its industry. A Balanced Scorecard was developed to guide the company toward this objective. To lower costs, Mejorar undertook a number of improvement activities such as JIT production, total quality management, and activity-based management. Now, after two years of operation, the president of Mejorar wants some assessment of the achievements. To help provide this assessment, the following information on one product has been gathered:
1. Compute the following measures for 2021 and 2023:
a. actual velocity and cycle time (2021 and 2023) (My question: In the book it stated that Actual Velocity (# units produced/time) and Cycle Time (time/# units produced) However, which one is per hour and per minute Or maybe I wrong let me know?)
b. Percentage of total revenue from new customers (2021 and 2023) (assume one unit per customer)
c. Percentage of very satisfied customers (2021 and 2023) (assume each customer purchases one unit)
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