An Aggressive Investment in Customer Analytics Represents the Use of Which

question 7

Multiple Choice

An aggressive investment in customer analytics represents the use of which lever to reduce supply chain uncertainty?

• A)Information
• B)Flexible capacity
• C)Time
• D)Inventory

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Definitions:

Raw Materials Price Variance

The difference between the actual cost of raw materials and the expected (or standard) cost.

Raw Materials Quantity Variance

It measures the difference between the expected amount of raw materials needed for production and the actual amount used.

Standard Cost

A predetermined cost of manufacturing a single unit or a specified quantity of a particular product or service, used as a benchmark to measure performance.

Direct Material

Raw materials that are directly attributable to the product being manufactured and can be easily traced in the manufacturing process.