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

Queuing, For simplicity, assume that each plane landing between 6am and 8am...

For simplicity, assume that each plane landing between 6am and 8am carries 240 passengers, 75% EU and 25% non-EU citizens. Passengers from each flight continuously join (at a const

Production and Planning Control, A company is setting up an assembly line t...

A company is setting up an assembly line to produce 192 units per eight-hour shift. The following table identifies the work elements, items, and immediate predecessors. Questions:

Define state licensure requirements that an organization use, Discuss state...

Discuss state licensure requirements that an organization must comply with in order to become a Medicare Advantage Plan, any exceptions to the State licensure requirement, and any

Determine the dominant operations performance objectives, 1. When an organi...

1. When an organisation is stepping up production or availability of a service what are the dominant operations performance objectives?  Answer: This is a very difficult questio

Product and Service Design, What are some of the factors that cause organiz...

What are some of the factors that cause organizations to redesign their products or services?

Formulate a problem as a linear programming problem, The Grand Valley Compa...

The Grand Valley Company, run by the J. Motwani family, produces two products: bed mattresses and box springs. A prior contract requires that the firm produce at least 30 mattresse

Describe expected monetary value, XYZ coating company has reviewed four new...

XYZ coating company has reviewed four new processes for improving their coating line. The four processes, labeled A, B, C, and D use different technology and have different capacit

Management information Systems, my instructor gave a diagram depicting om p...

my instructor gave a diagram depicting om processess of a manufacturing company. from that diagram he wants me to identify specific data fields that likely compromise each of the f

Explain survival of the military health system, Discuss strengths and threa...

Discuss strengths and threats to the survival of the military health system. Summarize the Tricare program and detail its options for enrolees. What is Tricare's greatest threat an

Explain team meetings can be helpful, Team meetings can be helpful. Interor...

Team meetings can be helpful. Interorganizational conflict is conflict that arises across organizations. What are sources of conflict?

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