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

What are few of the advantages in having a diverse workforce, Scenario Y...

Scenario You work for a large financial institution that in the past ten years has developed new products and services that appeal to a very diverse customer base located throug

Explain cost of a project, illustrate how to effectively and efficiently re...

illustrate how to effectively and efficiently report on the cost of a project to the different stakeholder groups • Use figures and tables to provide examples • Show calculat

Explain cause and effect diagram and pareto analysis, What are the advantag...

What are the advantages and disadvantages of using a Cause and Effect diagram and Pareto Analysis in terms of analyzing quality issues? Respond to at least two of your classmates'

Various levels of customer service in your organization, Has the philosophy...

Has the philosophy that there are different levels of customers had any material effect on the value of your organization's customer service? • Identify and explain the differen

Explain key dimensions of the general environment, Compare and contrast the...

Compare and contrast the key dimensions of the general environment, the task environment and the enacted environment of an organization.

Write some possible entities and attributes, Develop a list of some possibl...

Develop a list of some possible entities and attributes located in chill's restaurant database.

Explain the three forms of ownership, Answer the following questions on the...

Answer the following questions on the Topic of Forms of Business Ownership 1. Describe the three forms of ownership. Describe two advantages and two disadvantages of each. 2.

History.., The historical development of operation management.

The historical development of operation management.

Explain leadership styles of both coaches, Write a 750-1,000-word paper tha...

Write a 750-1,000-word paper that analyzes the two leadership case studies, "Coach Knight: A Will to Win" and "Coach K: A Matter of the Heart." Address the following questions an

Explain efficiently report of schedule of a project, Illustrate how to effe...

Illustrate how to effectively and efficiently report on the schedule of a project to the different stakeholder groups. Show calculations and provide rationale for each strategy.

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