Question: Based on ABC-XYZ classification recommend a brief inventory policy for each item as shown below. Example: Item Classification Inventory policy 1 AX This item is

Based on ABC-XYZ classification recommend a brief inventory policy for each item as shown below.

Based on ABC-XYZ classification recommend a brief inventory policy for each item Example:

Item Classification Inventory policy
1 AX This item is highest in usage value (A) so we must: use continuous review
2 ---- ----
.. ---- ----

\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline MONTH & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 & 10 & 11 & 12 & Total & Cumulative & ABC & StandardDeviation & CoefficientVariation & \begin{tabular}{|c|} Uncertainty \\ XYZ \\ \end{tabular} & ABC-XYZ \\ \hline Item 1 & 280 & 260 & 290 & 272 & 300 & 304 & 292 & 276 & 300 & 292 & 268 & 268 & 3,402 & 28.28% & A & 14.1 & 4.97% & x & AX \\ \hline Item 2 & 408 & 204 & 550 & 80 & 360 & 84 & 276 & 132 & 600 & 120 & 360 & 312 & 3,486 & 57.25% & A & 167.3 & 57.59% & z & AZ \\ \hline Item 3 & 120 & 168 & 150 & 148 & 120 & 160 & 100 & 156 & 148 & 120 & 170 & 164 & 1,724 & 71.59% & B & 22.0 & 15.28% & x & BX \\ \hline Item 4 & 86 & 76 & 74 & 156 & 112 & 80 & 86 & 120 & 102 & 152 & 84 & 134 & 1,262 & 82.08% & B & 28.2 & 26.79% & Y & BY \\ \hline Item 5 & 60 & 57 & 66 & 68 & 71 & 69 & 77 & 73 & 77 & 61 & 69 & 66 & 814 & 88.84% & B & 6.1 & 8.92% & X & BX \\ \hline Item 6 & 50 & 38 & 40 & 14 & 60 & 42 & 56 & 54 & 46 & 46 & 48 & 46 & 540 & 93.33% & C & 11.2 & 24.91% & x & CX \\ \hline Item 7 & 36 & 54 & 40 & 20 & 30 & 14 & 42 & 22 & 28 & 50 & 50 & 40 & 426 & 96.87% & C & 12.3 & 34.66% & Y & CY \\ \hline Item 8 & 22 & 28 & 18 & 19 & 22 & 25 & 21 & 21 & 21 & 23 & 25 & 19 & 264 & 99.07% & C & 2.8 & 12.59% & X & CX \\ \hline Item 9 & 10 & 9 & 5 & 8 & 10 & 5 & 3 & 5 & 2 & 5 & 1 & 7 & 70 & 99.64% & C & 2.8 & 48.11% & Y & CY \\ \hline Item 10 & 4 & 5 & 5 & 6 & 2 & 2 & 2 & 5 & 0 & 6 & 3 & 3 & 43 & 100.00% & C & 1.8 & 50.98% & z & CZ \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!