- Forecast by SKU, cost, item, currencies, margin, country, channel, customer location, etc.
- Drive inventory and safety stock levels according to customer requirements using the Service Level Optimizer
Labor efficiency variance is (actual number of hours worked minus standard number of hours worked) times standard labor wage rate. The variance is unfavorable if the actual hours exceed the standard hours. Syn: labor usage variance.
Labor rate variance is (actual wage rate minus standard wage rate) times actual number of labor hours. The variance is unfavorable if the actual rate is greater than the standard rate.
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