EBK OM
6th Edition
ISBN: 9781305888210
Author: Collier
Publisher: YUZU
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Chapter 11, Problem 2DQ
Summary Introduction
Interpretation:The various products in family inventory is to be listed along with the ways to manage them and the changes that needs to be taken in managing the SKUs.
Concept Introduction:Stock Keeping Unit is a code used in inventory management to search and identify stocks in hand from lists or invoices. It is important to manage the SKUs properly so that an individual or a company can ensure that they will not go through understock or overstock of the inventories.
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List some products in your personal or family “inventory.” How do you manage them? (For instance, do you constantly run to the store for milk? Do you throw out a lot of milk because of spoilage?) How might the ideas in this chapter change your way of managing these SKUs?
In ABC inventory analysis, which of the following is FALSE for class A items?
Select one:
a.
Class A items together make up a higher percentage of total inventory value ($) than either class B or class C items.
b.
Tighter control of class A items (than for class B or class C items) is appropriate.
c.
It is advisable to manage Class A items using an automated computer system.
d.
Class A items together make up smaller percentage of inventory items than class C items.
e.
Class A items individually may have any value ($): small, medium or high.
Inventory is the raw materials, work-in-process products and finished goods from the portion of a business's assets that are ready or will be ready for sale. Judge THREE (3) effectiveness of perpetual inventory for the food service organization and explain the impact of the system on the purchasing process. Please answer as quick as possible.
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