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 hrm professional to become the strategic business, What competencie...

What competencies do you feel are required of the HRM professional to become the strategic business partner and assist in leading an organization? Be sure to include scholarly s

Computer aided layout planning, Computer Aided Layout Planning This me...

Computer Aided Layout Planning This method has 3 steps. They are as follow: Preparation phase, Specification phase and Analysis In the preparation p

Explain valuing health care, Valuing Health Care" Please respond to the fol...

Valuing Health Care" Please respond to the following: •Determine the best way to leverage value from health IM / IT investments in today's health care environment. Provide specific

Describe how the marketing mix differs for each segment, Select an everyday...

Select an everyday product (personal fitness training, CDs, dog food, cell phones, shoes for example). Show how different versions of your product are aimed toward different market

Activities relating to analysis and control of activities, Activities relat...

Activities relating to analysis and Control of Activities The next problem after the designing of the production system is the analysis and control of the production system. It

Explain the consequences of having organizational members, These are TWO di...

These are TWO different short answer discussion questions please answer EACH question in the discussion and list references many motivational theories focus on the motivational qua

Explain drum-buffer-string, According to Elyahu Goldratt, the TOC system us...

According to Elyahu Goldratt, the TOC system uses a scheduling approach called _____. drum-buffer-rope drum-buffer-string drum-rope-buffer drum-buffer-line

Deliberate end users of health data, Identify and deliberate 5 end users of...

Identify and deliberate 5 end users of health data. Be sure to discuss what type of data they might be interested in knowing.

Case Study, #quBloomsday Outfitters produces T-shirts for road races. They ...

#quBloomsday Outfitters produces T-shirts for road races. They need to acquire some new stamping machines to produce 30,000 good T-shirts per month. Their plant operates 200 hours

Questions, A manufacturer of business copier workstations has a 75 percent ...

A manufacturer of business copier workstations has a 75 percent customer retention rate. Their accounting department estimates the incremental contribution to profit and overead as

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