What are the classified different stock items, Operation Management

Assignment Help:

What are the classified different stock items?

The ABC system of inventory management

Various stock items are classified as like:

a. High value (A)

b. Medium value (B)

c. Low value (C)

Higher value items are reviewed more often and controlled through a greater extent than low value things. This is since better stock control of high value items will reduce cash tied up unnecessarily into high value raw material or finished goods stock, supporting more effectual cash flow management for the organisation. It is an illustration of a periodic inventory system.


Related Discussions:- What are the classified different stock items

Explain relevance in the departmentclosing decision, Toon Town Toy Company ...

Toon Town Toy Company is considering the elimination of its Packaging Department. Management has received an offer from an outside firm to supply all Toon Town's packaging needs. T

Define what is divine command theory, What is Divine Command theory? Given ...

What is Divine Command theory? Given the power gap between God and humanity how do we make the moral demands work? How do we make Divine command theory work?

Describe what is customer relationship management, What is Customer Relatio...

What is Customer Relationship Management? Describe the four-step framework for one-to-one marketing that can be adapted to CUSTOMER RELATIONSHIP MANAGEMENT marketing?

Find required return on similar risk bonds, Bond validation-Semi-annual int...

Bond validation-Semi-annual interest. Find the value of a bond maturing in 6yrs. with a $1,000 par value and a coupon interest rate of 12% (6% paid semi-annually) if the required r

Describe i am trying but it said that is an error on the sys, I lost my ren...

I lost my rental book and I need to pay for it and I am trying but it said that is an error on the system and I can't pay for it, can you help me to figure this out please.

Explain the different approaches to globalization strategies, 1) How does c...

1) How does corporate strategy differ from business strategy? Give me an example of each. 2) What are the "ups and downs" of a growth strategy? 3) Discuss the different appro

Explain what is the relationship group cohesiveness, Within and organizatio...

Within and organization, give an example of a formal group and an informal group. What is the relationship group cohesiveness and effectiveness? When might a highly cohesive group

Demerits of a phased system roll-out for bombardier, 1) In your opinion, ho...

1) In your opinion, how does the visioning phase of the Bombardier ERP project impact the rest of the project? 2) What organizational outcomes did Bombardier expect with a succe

Explain in what ways might using it, In what ways can tale presence help in...

In what ways can tale presence help increase a company's efficiency and effectiveness-for example, efficiency or customer responsiveness? 2. What are the possible drawbacks or dang

Explain cultural differences between chin and google, Google, the company w...

Google, the company with the mission to make the worlds information universally accessible has come under fire with its re-launch of Google-China. It seems that the lure of the sec

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