Industrial Engineering and Production Management
Slack represents the difference between the

Normal allowable time and the latest expected time
Latest allowable time and the earliest expected time
Latest allowable time and the normal expected time
Proposed allowable time and the earliest expected time

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Industrial Engineering and Production Management
Time study is carried out

By breaking up each operation into small elements which are measurable with the help of the measuring device accurately
All of these
By observing and recording the time taken by the operator for an operation
By finding all the significant informations regarding the job, work place and machine tool etc

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