The production time in operations management, is the time required to perform one or more operations. It is made up of the times of: waiting, preparation, operation and transfer.
- Waiting time : time that the product is until the operation begins. Preparation time : time needed to properly dispose of the resources that are going to carry out the operation. Operation time : time consumed by the resources in carrying out the operation. Transfer time : time necessary to transport a quantity of product that has already been subjected to one operation to a new one.
The production time in political economy comprises all the process in which a product is made in a company. It is made up of four components:
- Work period: time during which the work process is carried out directly and value and goodwill are created. Time of submission to the action of natural forces: In this period, no value or surplus value is created since the objects of work are not subjected to the forces of labor. The fermentation of wine and other chemical reactions, for example. Time during which the action of labor and the means of production temporarily ceases: interruptions in the labor process caused by the natural limits of the labor force itself. The necessary breaks to eat for example. Time during which the means of production are in the warehouses: as a necessary condition to ensure the continuity of the production process and constitute a potential productive capital.
