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

Management consultant firm, After working for 30 years, Ramjee Somjee Dutt ...

After working for 30 years, Ramjee Somjee Dutt opted for VRS and started a courier company and did very well in the first four years. He was now looking for expansion of his busine

Which amendment has had the most impact throughout history, What are the fa...

What are the facts of the case? What is the key constitutional issue presented? Do you agree or disagree with Angel Raich's postion? Review the amendments to the U.S. Constituti

Explain what is the current state of hrm, What is the current state of HRM-...

What is the current state of HRM-r related technologies in your organization? What are organizational leaders' positions as they relate to using HRM-r related technologies (for

Compute the productivity in sales revenue/labour expense, Sailmaster makes ...

Sailmaster makes high-performance sails for competitive windsurfers. Below is information about the inputs and outputs for one model, the Windy 2000. Units sold 1,217 Sale price ea

Draw the five performance objectives to show actual service, Chart the five...

Chart the five performance objectives to show the differing expectations of club members and casual flyers and compare these with the actual service delivered.

Define conditions which exist globally that are contributing, Please answer...

Please answer both questions fully to have points awarded, Thanks! Decreasing the Incidence of CVD" Please respond to the following: 1. Propose the steps that might be taken

Explain what protocols should be considered, What protocols, if any, should...

What protocols, if any, should be considered in this needs assessment?

Define the local convenience store makes personal pan pizzas, The local con...

The local convenience store makes personal pan pizzas. Currently, their process makes complete pizzas, fully cooked, for the customer. This process has a fixed cost of $20,000, and

Molecular response to thyroid hormones, Molecular Response to Thyroid Hormo...

Molecular Response to Thyroid Hormones during Metamorphosis Thyroid hormones can cause obtainable tissues to break down or can remold the tissues to their adult function. The

Describe economic downturn, Please give a detailed answer on how to handle ...

Please give a detailed answer on how to handle the situation: You work for a small consulting firm and, like most companies; you are currently facing tight budget constraints given

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