If you owned a small manufacturing business with relatively high volume and multiple product lines, would it be good for you to implement an ABC model? Why? What are the benefits and the risks - or how could you adapt it to get the best of both?

If you owned a small manufacturing business with relatively high volume and multiple product lines, would it be good for you to implement an ABC model? Why? What are the benefits and the risks - or how could you adapt it to get the best of both?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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If you owned a small manufacturing business with relatively high volume and multiple product lines, would it be good for you to implement an ABC model? Why?

What are the benefits and the risks - or how could you adapt it to get the best of both?

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Dolla Financial “I used to work at NCB (National Commercial Bank). When I left NCB, I started my first loan company at the age of 24, a company called M24 Investments in Lucea, Hanover,” Kadeen Mairs reflected as he took a deep breath. Mairs, previously worked as a loans officer at various branches of the NCB in rural Jamaica. “While I was working at the bank I would visit small businesses in need of loans, but because of the requirements to get these loans, a lot of the small businesses would not qualify to get the loan. But I could see the potential in these businesses and I realised there was a market for loans to informal businesses that are not structured enough to access credit from the bank,” he continued. “That was a big market so I decided to tap into that market starting small. I took a loan and on lend that money to small businesses.” He said the seed funds for his company came through two loans totalling $4 million. “When I started out in Lucea, I used to give loans…
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