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

Depict an activity on arrow network, Project involves 12 activities and the...

Project involves 12 activities and the precedence relationship is provided below in brackets. (1) Draw an activity on arrow network to represent the project tasks and their depende

Explain what values of q and r is carmins boutique currently, Carmin's Bout...

Carmin's Boutique sells a large number of black dress shirts. The shirts, which bear the store label, are shipped from a manufacturer in Paris. Carmin's purchasing department manag

Why employee behaviour and performance with the needs, If you were CEO of y...

If you were CEO of your company what would you do differently to your compensation and benefits plan to make it more effective in aligning employee behaviour and performance with t

Explain managerial leadership, Explain managerial leadership. Manageri...

Explain managerial leadership. Managerial Leadership: Effective managing needs leadership. This is seldom possible to segregate the behavioural functions of manager-ship a

Explain motivating employees, What are some effective ways companies are mo...

What are some effective ways companies are motivating employees for (retention and best return). Will rate accordingly. Thanks

Frameworks for developing performance measures, Frameworks for Developing P...

Frameworks for Developing Performance Measures  There are a number of approaches which will be described here in broad terms:  The Kaplan and Norton balanced scorecard

Compute the value of the policy variable, You are asked to analyze the kanb...

You are asked to analyze the kanban system of LeWin, a French manufacturer of gaming devices. One of the workstations feeding the assembly line produces part M670N. The daily deman

Explain what is the present value of the following annuities, What is the p...

What is the present value of the following annuities? a. $2,500 a year for 10 years discounted back to the present at 7% b. $70 a year for 3 years discounted back to the pres

Describe different steps needed for proper decision making, Question: O...

Question: Oceania Hospitals has recorded demand for heart transplant surgery over the past few years. The data is given in the following table: a) You have been hired

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