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

Describe job openings in advertising in a global scale, Compare local Ohio ...

Compare local Ohio advertising jobs to job openings in advertising in a global scale sumerize there result.

Explain demand is estimated to be normally distributed, Henrique's Correa's...

Henrique's Correa's bakery prepares all its cakes between 4am and 6am so they will be fresh when customers arrive. Day-old cakes are virtually always sold but at a 50% discount off

Explain why is it important to try to fill in the gaps, When interviewing, ...

When interviewing, why is it important to try to fill in the gaps in a candidate's employment history?

Line balancing, What do you understand by “line balancing”? What happens if...

What do you understand by “line balancing”? What happens if balance doesn’t exist?n..

What kinds of gatekeepers in the organization required, What kinds of "gate...

What kinds of "gatekeepers" in the organization might be especially helpful to you in your position as a department supervisor?

Explain what is the capacity of the factory, Hickory Manufacturing Company ...

Hickory Manufacturing Company forecasts the following demand for a product (in thousands of units) over the next five years. Year 1 2 3 4 5 Forecast demand 60 79 81 84 84 Currently

Explain router could not be used as a fire wall, Which of the following cou...

Which of the following could not be used as a fire wall? a. hub b. router c. server d. PC

Explain how much safety inventory does the store carry, Demand during lead-...

Demand during lead-time for HP printers at a Sam's club store is normally distributed, with a mean of 500 and a standard deviation of 150. The store manager continuously monitors i

Explain filbert or sword types shapes of what tool, Round, flat, filbert or...

Round, flat, filbert or sword types/shapes of what tool

Why must you begin a case analysis with a financial analys, Why should you ...

Why should you begin a case analysis with a financial analysis? When are other approaches appropriate?

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