Examlex
Although there tends to be minimal direct physical presence with foreign outsourced vendors, virtual presence is still necessary in maintaining a productive working relationship, along with clear role definitions and procedures and active attention to possible influence of cultural differences.
Total Manufacturing Cost
The aggregate of all costs—direct materials, direct labor, and manufacturing overhead—incurred in producing finished goods.
Raw Materials
are the basic, unprocessed inputs used in the manufacture of goods and products.
Indirect Materials
These are materials used in the production process that are not directly traceable to the finished product.
Production
The process of creating goods and services through the combination of labor, materials, and technology.
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