Metrics in a Supply Chain Are

question 3

Multiple Choice

Metrics in a supply chain are:

• A) Governed by the International Metric Commission
• B) Measurements of performance
• C) A charge passed on to customers
• D) Not used on transportation

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Definitions:

Standard Hours Allowed

The predetermined amount of time that should be required to complete a specific task or produce a certain amount of goods.

Direct Labour Hours

The total amount of time spent by workers directly involved in the production process, contributing to the manufacturing of a product.

Standard Wage Rate

The predetermined rate of pay for a specific task or job, often used in manufacturing to set baseline labor costs.

Total Material Variance

The difference between the actual material costs incurred and the expected (standard) costs, reflecting efficiency in material usage.