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 coordinated system, You have been named human resource manager for ...

You have been named human resource manager for a company that has 180 employees and no formal base pay system. What steps will you take to developed such a coordinated system?

Process design, what is process design in operation management

what is process design in operation management

Illustrate example of queuing theory in operation management, Illustrate th...

Illustrate the examples of the queuing theory in operation management? Example of Queuing theory, a mathematical study of the formation of waiting queues or lines (physical or

Who was the founder of scientific management, Who was the founder of Scient...

Who was the founder of Scientific Management? Ans: The founder of Scientific Management is F.W. Taylor.

Problems that can plague groups as organizations is groupth, One of the rec...

One of the recognized problems that can plague groups and organizations is groupthink. Do some research on the groupthink phenomenon? What is it? When does it occur? What are some

Disadvantages, what are the disadvantages of operation management?..

what are the disadvantages of operation management?..

Explain drum-buffer-rope, According to Elyahu Goldratt, the TOC system uses...

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

Explain method for a company to advertise, How does Facebook compare with T...

How does Facebook compare with Twitter in terms of a method for a company to advertise? Is the audience different for the two? Are the risks/rewards different?

Explain smartphones are more likely to be used more, Considering research: ...

Considering research: Smartphones are more likely to be used more by whites or Hispanic

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