Examlex
Leniency and strictness biases in performance evaluation more commonly occur when performance standards are too detailed or explicit.
Intermediate Future
A period that lies between the near future and the distant future, often used in the context of forecasting or planning over a few years to a decade.
Perishable Inventory
Items or goods that have a limited lifespan or shelf life, requiring careful inventory management to minimize losses due to spoilage or obsolescence.
Yield Management
A pricing strategy that uses understanding of consumer behavior and market demand to maximize revenue, often used in the airline and hotel industries.
Variable Costs
Expenses that change in proportion to the level of production or sales activity, such as materials and direct labor.
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