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

Explain spread harmful rumours gossips uses bad language, Sara spread harmf...

Sara spread harmful rumours gossips uses bad language and lack civility in relationship while at work/ in which of the following is sarah engaging in/1.proert deviance/ 2 productio

Define a simple cpm network has five activities, A simple CPM network has f...

A simple CPM network has five activities, A, B, C, D, and E. A is an immediate predecessor of C and of D. B is also an immediate predecessor of C and of D. C and D are both immedia

List causes of the bullwhip effect, Question : (a) The Volume-Variety ...

Question : (a) The Volume-Variety characteristics in any business operations directly influence the layout and the flow of transformed resources. Discuss the four possible ty

Explain the method of job evaluation, Explain the method of job evaluation....

Explain the method of job evaluation. Method of job evaluation: Following are the methods wherein job evaluation is done:- a) Ranking method. b) Classification method.

Explain what should the pay structure look like, What should the pay struct...

What should the pay structure look like? What pay mix would you recommend? 5. How should Nathan communicate a new compensation strategy to his franchisee owners and managers? 6. Wh

Explain various health care plans, The first step in the Model of Scientifi...

The first step in the Model of Scientific Inquiry is to identify the question or problem needing further study. The following seven situations are typical everyday problems in busi

Explain firms taking different business strategies, The value chain priorit...

The value chain priorities can be quite different for firms taking different business strategies. Create examples of value chains for three firms: one using cost leadership, anothe

Suitability of continuous or flow production, Suitability of continuous or ...

Suitability of continuous or flow Production In order that flow methods can operations satisfactorily a number of requirements must be met: 1.There Must be Substantially cons

Explain competitive advantage only exist for a short time, With the realiti...

With the realities of today's technological innovation and the realities of the current economy, competitive advantage only exist for a short time and are quickly outdated. Agree o

Discuss the internal factors as means of improving business, 1.Read the fol...

1.Read the following case:  'Mr Soft n Cool Gelato' is an Ice Cream business owned by Alfredo and Guido Corleone. Since they started the business 18 years ago the firm has expan

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