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ME 482 - Manufacturing Systems

WIP inventory cost analysis - terms

Cpc – part costs accumulated through all processes, inspections, and     material handling

no – total number of operations/processes

MLT – manufacturing lead time (the longer the MLT, the greater the                                                      WIP)

t – time of part spent in process sequence

h – holding cost rate

Ch = holding costs

HCpc – holding cost per part

TCpc – total cost per part including WIP carrying costs

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