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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
Explain objectives and applicability of Factories Act 1948 . Objectives and Applicability: The Factories Act controls the conditions of work (health and safety) in factories
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what are the benefits of effective operations management. Discuss.
1. Explain what Quinn refers to as the managerial 'classic trap' in strategy formulation. Answer: Quinn (1988) criticises those who see strategy formulation and implementation
The historical development of operation management.
Consider the following parlor game to be played between two players. Each player begins with three chips: one red, one white, and one blue. Each chip can be used only once. To beg
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