Which one of the following is NOT a Technique of Inventory Control?

By K Balaji|Updated : October 6th, 2022
  1. ABC analysis
  2. FSN analysis
  3. GOLF analysis
  4. FTMN analysis

FTMN analysis is NOT a technique of inventory control.

In the table below, various inventory control methods are described:

ABC analysis(Always

Better Control)

According to their monetary annual utilisation value, inventory goods are categorised.

10% of the item's costs account for 75% of its class A costs.

20% of the item's costs are accounted for by Class B items.

70% of the item's costs are accounted for by Class C items.

VED

Analysis

(Vital,

Essential,

Desirable)

Inventory items are categorised based on their criticality, or the expense of experiencing a stock out.

It is essential, without which the industrial process would halt.

Their absence will hurt the production system's efficiency, which is crucial. It ought to be considered secondary.

D-Desirable: Although they are unnecessary for the process to run, having them would boost efficiency.

GOLF

Analysis

GOLF analysis is primarily conducted using material.

GOLF stands for,

G → government

O → Ordinary

L → Local

F → foreign

SDE Analysis (Scarce, Difficult, Easily available)

The research of those terms with limited availability benefits from this kind of investigation.

S-Scarce refers to imported goods that are frequently in limited supply.

Difficult: These are readily available, but not necessarily traceable or available immediately.

E-Easily - Market products are readily available

HML Analysis(High, Medium, low Cost)

Similar to ABC analysis, this analysis also considers the cost per item.

Items with a unit cost that is extremely high or maximum are given top attention.

M-Medium: Products with medium value per unit cost.

L-Low: Products with low unit costs

FSND Analysis (Fast, Slow, Non-moving, Deaditems)

Inventory items are categorized according to their usage (consumption rate/movement value) in descending order.

Fast moving items are those that are used up quickly, whereas standard moving items are those that are used up over the course of a year.

Items classified as S-Slow moving are those that are rarely issued and used over a period of two years or longer.

D-Dead things: These items are hardly ever consumed. It may also be regarded as outdated stuff.

Summary:-

Which one of the following is NOT a Technique of Inventory Control? 1. ABC analysis 2. FSN analysis 3. GOLF analysis 4. FTMN analysis

The technique FTMN analysis is NOT inventory control

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