Which of the following best defines flow time in a business process?

Flow time in a business process is defined as the total time a flow unit spends in that process from the beginning to the end. This concept encompasses all the time taken for a unit to move through various stages, including any periods of waiting, processing, and any delays that may occur. Understanding flow time is important for analyzing and optimizing business processes, as it helps identify bottlenecks and inefficiencies.

While the other options refer to different aspects of time within a business context, they do not accurately capture the full scope of flow time. The average waiting time for customers focuses solely on their delays rather than the entire duration of their experience in the process. The time taken to complete a single task is a narrower view, only considering one component of the whole process. The duration of a product's lifecycle encompasses a broader period that may extend beyond the business process itself, including stages like sourcing, production, and distribution. Thus, option B is the most comprehensive and accurate definition of flow time within a business process.