Problem 12.1L. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant classify these items according to an ABC classification system? (Rounddollar volume to the nearest whole number and percentage of dollar volume to two decimal places.)L. Houts Plastics Charlotte Inventory LevelsItem CodeAvg. Inventory (units)Value($/unit)DollarVolume% of Dollar Volume12893803.75nothingnothing23473004.001 comma 20036.3223491202.503009.082363751.80nothingnothing2394601.751053.182395251.75nothingnothing6782201.15230.707844122.05250.748210101.60nothingnothing831072.00140.42911163.00180.543 comma 304Enter your answer in the edit fields and then click Check Answer.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Problem 12.1
L. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant classify these items according to an ABC classification system? (Round
dollar volume to the nearest whole number and percentage of dollar volume to two decimal places.)
L. Houts Plastics Charlotte Inventory Levels
Item Code
Avg. Inventory (units)
Value
($/unit)
Dollar
Volume
% of Dollar Volume
1289
380
3.75
nothing
nothing
2347
300
4.00
1 comma 200
36.32
2349
120
2.50
300
9.08
2363
75
1.80
nothing
nothing
2394
60
1.75
105
3.18
2395
25
1.75
nothing
nothing
6782
20
1.15
23
0.70
7844
12
2.05
25
0.74
8210
10
1.60
nothing
nothing
8310
7
2.00
14
0.42
9111
6
3.00
18
0.54
3 comma 304
Enter your answer in the edit fields and then click Check Answer.
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