ENTREPRENEURIAL OPERATIONS
PRODUCTION PLANNING AND CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ABC represents
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fast, slow and non-moving items
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high, medium and low items
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vital, essential and desirable items
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moving, non-moving and ghost items
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Explanation:
Detailed explanation-1: -ABC analysis is an inventory classification strategy that categorizes the goods into three categories, A, B, and C, based on their revenue. ‘A’ in ABC analysis signifies the most important goods, ‘B’ indicates moderately necessary goods, and ‘C’ indicates the least essential inventory.
Detailed explanation-2: -Using ABC classification, inventory is divided into three categories, A (most important), B (fairly important) and C (least important).
Detailed explanation-3: -VED stands for Vital, Essential, Desirable-the three levels to define the importance and vitality of your inventory SKUs. VED analysis keeps a business from falling prey to some serious functional dislocation of customer care.
There is 1 question to complete.