I have faced one scenario that have to run the SharePoint 2010 with latest patches but I had 3 different setup files such as SharePoint 2010 setup, SharePoint Service pack 1 setup file, SharePoint latest cumulative update

It would consume huge time to install each file on the Servers. Finally I found the concept called slipstreaming the patches and solution steps below

Run the below commands one by one to create directory and extract the setup files

1.       Mkdir C:\SP2010
2.       Officeserver.exe  /extract:c:\sp2010
3.       officeserver2010sp1-kb2460045-x64-fullfile-en-us.exe /extract:c:\SP2010\Updates
4.       office2010-kb2596505-fulfile-x64-glb.exe /extract:C:\SP2010\Updates

Once you extracted all the files in single setup file (slipstreaming) and now you are ready to run the setup file to install SharePoint.