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Vogel Approximation Methods ( VAM): like the least methods the Vogel Approximation Methods( VAM) also consider the shipping costs. but in a relative sense when making allocations.
Total Cost : 4x15+1x35+3x20+8x20+4x+60x= Rs. 555
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The ABC system is a method of Managing inventory.
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_____ is the objective under JIT and time-based competition. WIP reduction Material velocity Lead-time reduction Decreasing material wait time
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