What is the purpose of the ABC classification system?
Answer to relevant QuestionsWhat is the relationship of the economic order quantity to demand? to the holding cost? to the setup cost?What is “safety stock”? What does safety stock provide safety against?What is the relationship between the aggregate plan and the master production schedule?What are the advantages and disadvantages of the shortest processing time (SPT) rule?Does lean production work in the service sector? Provide an illustration.
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