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

Compute the aggregate production rate, The BackPack Company produces a line...

The BackPack Company produces a line of backpacks. The manager, Jill Nicholas, has decided that the BackPack Company must have very good customer service. She has asked you to d

Explain obstacles and the boat was operated properly, A water skier who bre...

A water skier who breaks his leg after a tumble while water skiing, where the lake was free of obstacles and the boat was operated properly, will probably fail to recover in an act

Line management, what do you mean by "line balancing''? what happens if bal...

what do you mean by "line balancing''? what happens if balance doesn''t exist?

How to choose the most qualified suppliers and strategies, Use at least one...

Use at least one project you have been a team member of, or a project manager for, as an example to contextualize the research topics below: All of the following topics must be

Principle of motion economy, Principle of Motion Economy: The improvem...

Principle of Motion Economy: The improvement of any method is generally  accomplished using the ideas chosen from the alternatives  throw up during the critical examination ph

Explain primarily used to help design products, Which of the following is p...

Which of the following is primarily used to help design products that will connect product attributes with customer desires?

Describe why firms conduct marketing research, Why do successful firms cond...

Why do successful firms conduct marketing research for their product and services?

Explain matching supply with demand, From "Matching Supply with Demand" Cac...

From "Matching Supply with Demand" Cachon/Terwiesch (Inventory Cost) A manufacturing company producing medical devices reported $60,000,000 in sales over the last year. At the e

Explain process of designing a database, We are agree that the user should ...

We are agree that the user should be involved in the design of the database. Class, how would you go about the process of designing a database? What processes are involved?

Explain the key factors in effective project control, Identify and describe...

Identify and describe the key factor(s) in effective project control.

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