Examlex
The total quality management approach recognizes that defects are an inevitable part of mass production, and that the cost of replacing defective goods is just a cost of doing business.
Direct Labour Standard
A benchmark for the amount of direct labor time that should be consumed in the production of goods or services, used for costing and efficiency analysis.
Perfection Standard
Ideal or benchmark performance criteria in manufacturing or service delivery that represents the highest possible level of quality or efficiency.
Labour On-costs
Additional costs associated with employing staff, beyond their wages or salaries, including payroll taxes, superannuation, and workers' compensation insurance.
Occasional Inefficiencies
Sporadic or irregular instances where processes or systems do not operate at maximum productivity, leading to potential waste or excess costs.
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