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Item Number Class 1 6 7 8 10 11 12 13 14 15 16 17 18 19 20

Item Number Class 1 6 7 8 10 11 12 13 14 15 16 17 18 19 20

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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a. Classify each item in inventory using an ABC plan. Item Number Class 2 4 6. 7 8. 9 10 11 12 13 14 15 16 17 18 19 20
Transcribed Image Text:a. Classify each item in inventory using an ABC plan. Item Number Class 2 4 6. 7 8. 9 10 11 12 13 14 15 16 17 18 19 20
In the past, Taylor Industries has used a fixed-time period inventory system that involved taking a complete inventory count of all items each month. However, increasing labor costs are forcing Taylor Industries to examine alternative ways to reduce the amount of labor involved in inventory stockrooms, yet without increasing other costs, such as shortage costs. Here is a random sample of 20 of Taylor's items. ITEM ANNUAL ITEM ANNUAL NUMBER USAGE NUMBER USAGE $ 13,900 2,000 12,900 2,800 52,200 10,400 1,300 2,600 11,900 5,800 11 12 1,100 43,900 10,700 1,700 11,000 4,600 63,600 4,100 3,500 3 13 4 14 15 16 7 17 18 9. 19 10 16,000 20
Transcribed Image Text:In the past, Taylor Industries has used a fixed-time period inventory system that involved taking a complete inventory count of all items each month. However, increasing labor costs are forcing Taylor Industries to examine alternative ways to reduce the amount of labor involved in inventory stockrooms, yet without increasing other costs, such as shortage costs. Here is a random sample of 20 of Taylor's items. ITEM ANNUAL ITEM ANNUAL NUMBER USAGE NUMBER USAGE $ 13,900 2,000 12,900 2,800 52,200 10,400 1,300 2,600 11,900 5,800 11 12 1,100 43,900 10,700 1,700 11,000 4,600 63,600 4,100 3,500 3 13 4 14 15 16 7 17 18 9. 19 10 16,000 20
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