Explain abc inventory classification system is true, Operation Management

Assignment Help:

1. Which of the following statements about the ABC inventory classification system is TRUE?

a. This approach is based on an insight established by Adam Smith in The Wealth of Nations. b. A items represent 50 to 60 percent of all the items in inventory and account for 5 to 15 percent of the companys inventory investment.

c. This approach is utilized because not all of the items in a companys inventory are equal and so may require differing levels of control.

d. To establish the classification of items into their groups, the items are first ranked from highest dollar per unit value to lowest


Related Discussions:- Explain abc inventory classification system is true

Brainstorming - improving productivity, Brainstorming - Improving Productiv...

Brainstorming - Improving Productivity Brainstorming is a well-known ideas-generating technique aimed at producing new ideas before evaluation, which tends to shut down many

Explain corporate-level strategy of diversification, Why are standards impo...

Why are standards important in many industries? As standards get adapted and become dominant, how does this process influence the competitive nature of the industry? When Walmar

What is objective function, FestiveMeadow3308 Baseballs (z1) requires 3 ...

FestiveMeadow3308 Baseballs (z1) requires 3 minutes/unit for cutting and 2 minutes/unit for glueing. Basketballs (z2) requires 2 minutes/unit for cutting and 4 minutes/unit for

Explain what are the internal and external factors, What are the internal a...

What are the internal and external factors (HR/Business) that will affect the global organization today when doing business overseas

Explain national cattlemens beef association advertises beef, When the Nati...

When the National Cattlemens Beef Association advertises Beef, Its Whats for Dinner, it is trying to stimulate _____ demand. selective primary derived generic second

Which is considered part of a companys intellectual property, 1. When a com...

1. When a company plans a new product development project, which department should impact the decisions? (Points : 5) Sales and Marketing Engineering Manufacturing Fina

Explain companys strengths and weaknesses, How can value-chain analysis hel...

How can value-chain analysis help identify a companys strengths and weaknesses?

Assignment, Analyze the strategic role of operations management in terms of...

Analyze the strategic role of operations management in terms of organizational and operational objectives.

Explain interactive design mean, What does the concept of interactive desig...

What does the concept of interactive design mean for a service such as the adventure playground described here?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd