Examlex
The materials price variance is computed by multiplying the difference between the actual price and the standard price by the actual quantity of materials purchased.
Corrective
Designed to correct or rectify an error, fault, or undesirable outcome, often through specific interventions or adjustments.
Feedback
Information provided about reactions to a product, a person's performance of a task, etc., used as a basis for improvement.
Feedback Timely
Relates to the promptness with which feedback is delivered, ensuring that it is given in a time frame that is relevant and useful for the recipient.
Appraisal Cycle
A recurring review process of assessing employee performance over a set period, typically annually.
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