Question: Consider a flexible flow shop environment. Whenever a job has to wait before it can start its processing at the next stage it is regarded
Consider a flexible flow shop environment. Whenever a job has to wait before it can start its processing at the next stage it is regarded as Work-In- Process (WIP), since it already has received processing on machines upstream.
Manufacturing Models
The costs associated with WIP are storage costs, amount of value already added, cost of capital, and so on. Explain why high WIP costs may postpone the starting times of jobs on certain machines.
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WIP stands for work in progress and it refers to the raw materials labor and overhead costs assoc... View full answer
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