Question
Download Solution PDFInventory control begins with _____ analysis, a fundamental supply chain activity frequently performed by inventory controllers and materials managers.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFExplanation:
ABC Analysis stands for:
- A items – High value, low quantity (tight control)
- B items – Moderate value and quantity
- C items – Low value, high quantity (loose control)
This method is based on the Pareto Principle (80/20 Rule), where:
- 10–20% of items (A) account for 70–80% of consumption value
- 30–40% of items (B) account for 15–25%
- 50–60% of items (C) account for 5–10%
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