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  Report on Case study of ABC Analysis - A Case Study of Vehicle Spare Parts Based on Deccan Vehicles Step 1. Some of the key information essentially that has been used in the case study are listing the inventory used during a production cycle along with it cost per unit, Annual Units utilize, Annual Usage Value. These are the essential information required to perform the ABC Analysis. Step 2. Some of the key issue in inventory management that this industry is likely to face are as followed; §   Overreliance on Automation : Technology alone cannot plan inventory. According to Outcalt, “there’s this illusion that computers and POS systems are supplanting sound inventory planning training or taking care of planning. POS systems, like accounting systems, are historians. They show to the penny what has happened already. But how do you project forward? What’s your profit plan for the year? What’s your buying plan for the year? For a lot of retailers, it’s like driving do...

  Definition of consumer index numbers   According to Croxton and Cowden , index number are devices for measuring differences in the magnitude of a group of related variables.   According to Spiegal , an index number is a statistical measure designed to show changes in a variable or a group of related variables with respect to time, geographical locations, or other characteristics (meaning and characteristics, n.d.).  Types of consumer index numbers  1) Price index number : It evaluates the relative differences in costs between two particular points in time.  2) Quantity index number: It measures the differences in the physical quantity of the product’s manufacturing, buying, or selling of one item or a group of items.   3) Value index number : It is formed from the ratio of the aggregate value for a particular period with that of the aggregate value that is found in the base period (what is index number and types, n.d.).  Properties of consume...

Compile by Sonam Tobgay Content credit to respective creators... Methods of Construction of Indices and Test of Adequacy   1.      Methods of Construction of Index Numbers There are different ways of construction of index numbers. In general, construction of index number if further available for the division in two parts: Simple and Weighted. Furthermore, the simple method is classified into simple aggregative and simple relative. Similarly, the weighted method is classified into weighted aggregative and weight average of relative. The following chart illustrates the various methods.   v   UNWEIGHTED OR SIMPLE INDEX NUMBER An unweighted or simple price index number measures the percentage change in price of a single item or a group of items between two periods of time. In unweighted index number, all the values taken for study are of equal importance. There are two methods in this category: 1)     Simple Aggregative Metho...