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Sept%2028%20Plan - Operations Management 399 Operations UBC...

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Operations Management 399 Operations Management 399 UBC Sauder School UBC Sauder School Fall 2010 Fall 2010 Sept 280 Lecture Sept 280 Lecture Tom Culham P. Eng, M.A. Sc., Tom Culham P. Eng, M.A. Sc.,
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Sept 28 th Lesson Plan Review of last Class Sales and Operations Planning Definition
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ABC Analysis What is the purpose of ABC What is the purpose of ABC Analysis in managing Analysis in managing inventory inventory ? ?
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ABC Analysis Divides inventory into three classes Divides inventory into three classes based on criteria you set. based on criteria you set. An example might be annual dollar An example might be annual dollar volume: volume: Class A - high annual dollar volume Class A - high annual dollar volume Class B - medium annual dollar volume Class B - medium annual dollar volume Class C - low annual dollar volume Class C - low annual dollar volume Used to establish policies that focus on Used to establish policies that focus on the few critical parts and not the many the few critical parts and not the many trivial ones trivial ones
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Record Accuracy Accurate records are a critical ingredient Accurate records are a critical ingredient in production and inventory systems in production and inventory systems
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