Abc classification Study guides, Class notes & Summaries

NIGP Exam Questions with Correct Answers A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fines for...

ABC classification - correct answerA method for determining level of control and frequency of review of inventory items. Acceptable quality level (AQL) - correct answerThe small percentage of defects that consumers are willing to accept. Acceptance sampling - correct answerThe process of randomly inspecting a sample of goods and deciding whether to accept the entire lot based on the results. Action bucket - correct answerThe current time period. Action notices - correct answerOutput ...

ABC classification - correct answer Process of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls to the low dollar volume items (C class) than the hig...

WGU C215 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS ABC Classification a method for determining level of control and frequency of review of inventory items Acceptable Quality Level (AQL) The small percentage of defects that consumers are willing to accept. Acceptable Sampling The process of randomly inspecting a sample of goods and deciding whether to accept the entire lot based on the results Action Bucket The current time period Action Notices Output from an MRP system that iden...

Mutlidisciplinary Team Terminology - correct answer (SNOMED-CT) Systematized Nomenclature of Human and Veterinary Medicine Clinical Terms- clinical terms covering nurisng, medicine, & allied health Standardized Terminology Supports - correct answer Data Mining PHR - Private Health Record - correct answer Lifetime health record, supplied by ind., healthcare providers, pharmacies, therapist, lab test, - Controlled by the consumer, E-Sign - correct answer Same legal status as a han...

NIGP Exam Questions and Answers All Correct A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fi...

ABC classification CORRECT ANSWER Process of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls to the low dollar volume items (C class) than the higher ...

APICS CPIM Exam 1 Questions & Answers 2024/2025 ABC classification - ANSWERSProcess of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls to the low...

NIGP Exam Questions with Correct Answers (1) A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fines ...

APICS CPIM Exam 1 review update 2023/2024 ABC classification - Process of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls to the low dollar volume ...