Supply Chain Glossary - A

Supply Chain Glossary - A

absentee rate

A ratio comparing the number of employee-days lost with the total number of available employee-days of employment during some base period, usually one month.

An approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit of production. The fixed costs are usually allocated to units of output on the basis of direct labor hours, machine hours, or material costs. Syn: allocation costing. See: activity-based costing.


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