What Does a Retailer Need to Do to Close the Standards

question 3

Multiple Choice

What does a retailer need to do to close the standards gap?

• A) A retailer needs to be willing to use technology to standardize certain aspects of their customer service.
• B) A retailer needs to be willing to try innovative approaches to service problems.
• C) A retailer needs to set service goals.
• D) A retailer needs to commit to high-quality service.
• E) A retailer needs to do all of these.

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Definitions:

Direct Labor-Hours

The total hours of labor directly involved in manufacturing a product.

Machine-Hours

A measure of the amount of time a machine is operated, used in calculating manufacturing overhead rates.

Predetermined Overhead Rate

A rate used to allocate estimated overhead costs to products or job orders, based on a pre-established criterion.

Machine-Hours

A metric that evaluates output or operational activity by tracking the number of hours that machinery runs.