Abc classification - Study guides, Class notes & Summaries

ISDS 3115 CH 12 Exam Questions Correctly Answered. Which of the following statements about ABC analysis is FALSE? A. ABC analysis is based on the presumption that controlling the few most important items produces the vast majority of inventory savings. B. In ABC analysis, forecasting methods for "C" items may be less sophisticated than for "A" items. C. In ABC analysis, "A" items should have tighter physical inventory control than "B" or "C" items have. D. ABC analysis is bas...

NIGP Exam Questions with Correct Answers (1) A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fines ...

NIGP Exam Questions with Correct Answers A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fines for...

WGU C720 Complete OA Prep Guide Graded A+ Inputs People, capital, material, money Outputs Services and goods Sustainability Defined broadly in operations and supply chain management as the ethical issues an organization faces to balance financial performance while maintaining social responsibility standards and a responsible environmental profile. VIRAL Acronym - A framework for competitive advantage. Viral, Inimitable, Rare, Aptitude, Lifespan. The advantage must provide Value to consumers...

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WGU C215 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS ABC Classification a method for determining level of control and frequency of review of inventory items Acceptable Quality Level (AQL) The small percentage of defects that consumers are willing to accept. Acceptable Sampling The process of randomly inspecting a sample of goods and deciding whether to accept the entire lot based on the results Action Bucket The current time period Action Notices Output from an MRP system that iden...

ABC classification CORRECT ANSWER Process of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls to the low dollar volume items (C class) than the higher ...

WGU C215 Complete Answers 100% Correct (Latest 2024) STUDY GUIDE 1. ABC Classification Answer: a method for determining level of control and frequency ofreview of inventory items 2. Acceptable Quality Level (AQL) Answer: The small percentage of defects that consumers are willing to accept. 3. Acceptable Sampling Answer: The process of randomly inspecting a sample of goodsand deciding whether to accept the entire lot based on the results 4. Action Bucket Answer: The current time per...

APICS CPIM PART 1 V7 MODULE 5 2023 NEW EXAM SOLUTION ABC classification - The classification of a group of items in decreasing order of annual dollar volume (price multiplied by projected volume) or other criteria. This array is then split into three classes [...]. The [first] group usually represents 10 percent to 20 percent by number of items and 50 percent to 70 percent by projected dollar volume. The next grouping [...] usually represents about 20 percent of the items and about 20 percent...

ABC - Answer American Board of Criminalistics. ABET - Answer Accreditation Board of Engineering and Technology. AC - Answer Alternating Current. Accidental Fire Cause - Answer Cause classification for a fire that does not involve a deliberate human act to ignite or spread the fire into an area where the fire should not be. Accreditation Board of Engineering and Technology (ABET) - Answer Organization that provides accreditation, promotion, and advancement of education in ap...