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

Discuss how the role of human resources as a strategic, The field of human ...

The field of human resources is evolving from providing services to an organization to becoming a strategic partner in its growth. Analyze and discuss how the role of human resourc

Give me an instance of a preference matrix, Can anyone give me an example o...

Can anyone give me an example of a preference matrix?

Lean Synhcronization, Explain how you woul eliminate waste through flexible...

Explain how you woul eliminate waste through flexible processes

Explain arbitration as a quasi judicial process, Examine arbitration as a q...

Examine arbitration as a quasi judicial process in which parties agree to submit unresolved disputes to a neutral third party for binding settlement. Explain the labor- contractual

Describe appropriate technique to develop a forecast, Air travel Mountain A...

Air travel Mountain Airlines for the past 18 weeks was: Week Passengers 1 405 2 410 3 420 4 415 5 412 6 420 7 424 8 433 9 438 10 440 11 446 12 451 13 455 14 464 15 466 16 474 17 47

Explain what are the factors that affect employee motivation, Recruitment i...

Recruitment is of little use if an organization cannot retain key employees. Therefore, it is critical that organizations properly motivate and reward their employees. What are t

Explain nurses can do measurement and provide instructions, Process Analyti...

Process Analytics Caselet 1 Overview respond to this caselet, which is based in a health care setting. Preparation Read through the following caselet. You are an operations manager

Automation trends in operations management, how automation helps in trends ...

how automation helps in trends of operations management

Presentation of performance measures - operations strategy, Presentation of...

Presentation of Performance Measures - Operations Strategy A useful way of presenting performance measures is to sketch them in a polar representation with each line represent

Explain which dimensions are presented in morgans model, Which three dimens...

Which three dimensions are presented in Morgan's model of IHRM? a) Types of employees, countries and industries b) Types of employees, countries and HR activities c) Types

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