When Analytics Are Used to Explore the Past of the Supply

question 6

Essay

When analytics are used to explore the past of the supply chain what are examples of key performance indicators?

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Definitions:

Manufacture

Manufacture refers to the process of converting raw materials or components into finished products through the use of labor, machinery, tools, and chemical or biological processing.

Standard Costs

Predetermined costs to manufacture a product, serving as a benchmark for assessing actual production costs.

Actual Costs

The real expenses incurred for materials, labor, and overhead in the production of goods or services, as opposed to estimated or budgeted costs.

Standard Costs

Predetermined costs for the manufacturing of products or performing services under normal conditions, used as benchmarks to measure actual performance.