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 leadership, Explain Leadership. Leadership: Leadership is the...

Explain Leadership. Leadership: Leadership is the knacks of finding other people to follow you and do willingly the things which you want them to do. This is the capability t

What kind of transmission path does a fixed wireless signal, What type of t...

What type of transmission path does a fixed wireless signal require?

Describing the classical and contemporary views, There are five elements of...

There are five elements of organizational design and structure that are used to manage an organization, Division of Labour, Span of Control, Unity of Command, Authority/Responsibil

What potential problems in flexible retirement programs, What potential pro...

What potential problems and benefits are likely with early or flexible retirement programs?

Expalin the fundamental ethical principle, How does utilitarianism contradi...

How does utilitarianism contradict the fundamental ethical principle: the end does not justify the means?

Explain fedex manufacturing process, Describe FedEx manufacturing process a...

Describe FedEx manufacturing process and scheduling approach

Solution to the transportation problem, A transportation problem can be sol...

A transportation problem can be solved by two methods using (a) simplex methods and(b) transportation method. We shall illustrate these with the help of an example. Exam

CPM, CPM problems

CPM problems

Explain observable cultural forms, Think of an organization with which you ...

Think of an organization with which you are personally familiar (best), or of which you are aware through word of mouth or reading. Identify one underlying value, belief, or assump

Explain maintaining both individual and team identity, What are some of the...

What are some of the challenges inherent in maintaining both individual and team identity? Please provide real world examples.

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