Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Explain Always Better Control analysis of inventory control.
ABC Analysis of Inventory Control: ABC analysis is the extensively used approach for classifying the inventories on the basis of cost and utilize. It is a type of pareto analysis and sometimes also termed as Always Better Control approach.
The inventories are classified in three groups:
(i) A-Type Inventory: It consists as high value, low volume type of inventories. It means that their yearly consumption is very less although these are very costly items. Despite required less in volume, their yearly monetary value is rather high, as these are very expensive items. ABC-analysis recommends careful control of A-Type inventory. For more periodic review is required.
Involvement of management of higher level is recommended in the review process. A small reduction in the safety stock and EOQ will reason substantial saving for the organisation. This has been observed that a small percentage of items as 10 to 20 percent accounts for major percentage as 70 to 80 percent of the total annual monetary consumption in inventories. These are termed as A-Type inventories.
(ii) C-Type Inventory: Majority of the items (as 60-70 percent) constitute only a minor fraction of the total annual monetary consumption (as 5 to 15 percent) in inventories. All such items are C-Type items. The control required for these items may not be extremely stringent. Bulk-purchase decisions may be helpful as the item cost is less. Hence, lesser number of orders may be placed. All such items may be under the supervision of lower level of management and monthly reports or only exceptional reports are needed by top management.
(iii) B-Type Inventory: Items but A and C type constitute 20 to30 percent in terms of items and 10 to 25 percent in terms of their annual consumption value. These are known as B-Type inventories. Their supervisions and control are moderate as compared to A or C type inventories.
Question 1: (a) "Alone of all non-western countries Japan has become a modern society, because her reforms based the new "Westernised" behaviour on traditional Japanese values
You have saved $5000 for a down payment on a new car. The largest monthly payment you can afford is $350. The loan would have a 10% APR based on the end of month payments. What is
Optimal Capacity Determination For a given capacity of a plant the average unit cost of production of a product decreases as the output rate( say in number of units produced p
Compile a list of consumption behaviours which you consider unethical. For each behaviour listed, explain why you view it as wrong
In the mordern world most people work in organisations. Describe how this can affect people's sense of responsibility and the morality of their conduct.
Based on the most currently reported data by the American Arbitration Association and the Federal Mediation and Conciliation Service, you should factor all but one of the following
how do i calculate the desired cycle time
Value: 10.00 points Problem 3-4 An electrical contractor's records during the last five weeks indicate the number of job requests: Week: 1 2 3 4 5 Requests: 16 18 14 17 18 Predict
Discuss the value of marketing to the consumer, the stakeholder and stockholder. Address the following: a. the value you place on marketing b. the value of marketing to customers a
Discuss options companies use to enhance ethical behavior at work
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd