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 what is the average worker in percentage, what is the average worke...

what is the average worker in percentage from manufacturing industry

Explain income wages, Robert and mar Lou have 3 children they income wages ...

Robert and mar Lou have 3 children they income wages total 25,764.39 there federal income tax withheld was 3,580.31 social withheld was 1,082.10 medical tax was 373.58 what form sh

Explain measuring the impact of a capital acquisition, Measuring the impact...

Measuring the impact of a capital acquisition on productivity is an example of multifactor productivity.

What is reliability is decriminator in cost of gps receivers, The DAGR GPS ...

The DAGR GPS receiver will have a 25% increase inreliability over the PLGR GPS receiver. Using the PLGR as an analogy, an analyst estimated that the DAGR would cost 25% more than t

Hard factors - factors affecting productivity improvement, Hard Factors - F...

Hard Factors - Factors Affecting Productivity Improvement Productivity of the product is determined by the way in which the product fulfils its customer requirements, either b

Describe what is meant by a franchise, Question: a) What is a strategy...

Question: a) What is a strategy? b) Describe what is meant by a franchise. c) Henry Fayol put forward 6 primary functions of management. State the 6 functions and brief

CALCULATING THE SLACK, Time (in Days) Activity Immediate Predecess...

Time (in Days) Activity Immediate Predecessor Optimistic Most Likely Pessimistic A - 3 6 8 B - 2 4 4 C - 1 2 3 D C 6 7 8

Explain legal side of the decision-making process, Assume that as a result ...

Assume that as a result of HR planning, a mental hospital identifies a shortage of therapists but a surplus of case workers. Discuss the actions that you would take to address the

Explain what problems does diversity present, Individual diversity is an im...

Individual diversity is an important concept in organizational behaviour. People can be described by a number of categories that are both inherent (e.g., age, race, gender, ethnici

Maintenance, discuss the pross and cons of hiring multi-craft maintenance p...

discuss the pross and cons of hiring multi-craft maintenance personnel

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