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 It may also be regarded as outdated stuff.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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