The concept of learning/improvement curves was developed to accurately estimate the time completion time of then-th item in repetitive manufacturing. The fact that learning curve models help identify the potential time savingsand in turn the resulting cost savings is very well documented and widely used in aircraft and related industries.When rate of production is not very high, a concept similar to learning curve is used to correctly to estimate the costof the n-th item. If embedded correctly in the learning curve model, the effect of production rate may be accountedfor accurately in estimating manufacturing costs. The research work presented here essentially addresses this.
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