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Cycle time is defined as the maximum time that the product is allowed at each workstation. It is determined by the formula: Cycle time = production time available per day/units required per day. Takt time is defined as the pace of production to meet customer demand. It is defined by the formula: Takt time = total work time available/units required. Explain the similarities and differences between the two time calculations. (It is more than to simply restate the formulas)
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