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 vent-promotion bauiness, Hirizontal intergration has benefits to th...

Hirizontal intergration has benefits to the firms involved. Consider the consolidation in the vent-promotion bauiness when Live Nation bought Ticketmaster in 2010. List some specif

Explain hidden-camera videos used to promote coke zero, Why do you think th...

Why do you think that the hidden-camera videos used to promote Coke Zero were an effective way to reach its target market? Do you think a similar strategy with a viral marketing ca

The central evaluation unit case study with answers, Summarize the problems...

Summarize the problems of the CEUPU process and suggestions you make to Veronique to improve her process

Explain business plan to enhance to online education, If you can think of a...

If you can think of a business plan to enhance to online education programs at school?

Explain process capability index, Determine the Process Capability Index of...

Determine the Process Capability Index of the three processes given below and determine whether the processes are capable or not. Process Mean Variance Lower Specification Limi

Explain management developer, Business knowledge competencies are particula...

Business knowledge competencies are particularly important for which human resource role? Answer A) management developer B) employee advocate C) strategic partner D) functional exp

Explain minimize make span in a two machine flow shop, Please explain your ...

Please explain your answer- Johnson's rule gives the optimal answer for which of the following type of problems? A) Minimize make span in a two machine flow shop B) Minimi

Determine control limits for a c-chart and np-chart, 1. If, instead, a cons...

1. If, instead, a constant sample size of 100 is chosen, determine the np-chart control limits. A later sample produces 15 defectives: what conclusion can be drawn?  2. 1000 bot

Describe the role of ethics and social responsibility, Explain the role of ...

Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs. Explain how your ethical perspective has evolved throughout t

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