CS Executive Costing - Material Lecture 1 Part 1 By Dani Ki Costing (DKC)
This is the First lecture of CS Executive Costing Subject Video Lectures by Dani Khandelwal. In this Part Danisir starts from Material chapter. Sir Starts from the sum number 6 which is given on page number 2 of the Study Material prepared by sir.
(i) MIN-MAX PLAN
It is one of the
oldest methods of material control. Under this plan the analyst lays down a
maximum and minimum for each stock item keeping in view its usage, requirements
and margin of safety required to minimize risks of stock-outs. The minimum
level establishes the reorder point and order is placed for that quantity of
material which will bring it to the maximum level. The method is very simple
and based upon the premise that minimum and maximum quantity limits for different
items can fairly be well defined and established. Considerations like economic
order quantity and identification of high value and critical items of stock for
special management attention are not cared for under this plan.
CS Executive Costing - Material Lecture 1 Part 1 By Dani Ki Costing (DKC)
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CS Executive Material,
Material Lecture 1 Part 1
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