Production Cycle the period during which the objects of labor (raw products and materials) remain in the production process, from the beginning of manufacturing through the output of a finished product. In addition to the working time, the production cycle includes interruptions in production owing to physical, chemical, and biological (natural) processes (for example, the period required for tanning leather); the character of the objects of labor; or the technology and organiation of production. !he production cycle represents part of the production time, excluding the period during which the objects of labor are in production reser"es. !he reduction of the production cycle accelerates the output of products and con tributes to the better utiliation of producti"e capital (see#I$%& 'I!* +!'-; 'I'/*!I01 'I!* ), to the acceleration of the rate of turno"er of circulating capital under socialism, and to the turno"er of capital under capitalism. !he most important factors for reducing the production cycle are the introduction of ad"anced technology and the automation of production processes.
Production Cyclethe period during which the objects of labor
(raw products and materials) remain in the production process, from
the beginning of manufacturing through the output of a finished
product. In addition to the working time, the production cycle
includes interruptions in production owing to physical, chemical,
and biological (natural) processes (for example, the period
required for tanning leather); the character of the objects of
labor; or the technology and organization of production.The
production cycle represents part of the production time, excluding
the period during which the objects of labor are in production
reserves. The reduction of the production cycle accelerates the
output of products and contributes to the better utilization of
productive capital (seeFIXED CAPITAL STOCK; CIRCULATING CAPITAL),
to the acceleration of the rate of turnover of circulating capital
under socialism, and to the turnover of capital under capitalism.
The most important factors for reducing the production cycle are
the introduction of advanced technology and the automation of
production processes.
