whait is ABC analysis?

Question

Accepted Answer

ABC analysis is a technique used in inventory management to categorize items based on their importance and value.

ABC analysis categorizes items into three groups: A, B, and C.
Group A items are the most important and valuable, requiring close monitoring and control.
Group B items are moderately important and valuable, requiring regular monitoring.
Group C items are the least important and valuable, requiring minimal monitoring.
ABC analysis helps in prioritizing inventory management efforts and optimizing resources.
For example, in a retail store, high-value products like electronics may be categorized as Group A, while low-value items like stationery may be categorized as Group C.

Accepted Answer

ABC analysis is widely used in supply chain management and stock checking and inventory system and is implemented as a cycle counting systems

Accepted Answer

ABC analysis is widely used in supply chain management and stock checking and inventory system and is implemented as a cycle counting systems

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