Inventory ABC
Explain the ABC inventory classification system, give an example, and indicate its advantages
Your paper should be in APA format, have at least one reference, and have a minimum of 750 word not counting the cover page and reference page.
Answer Preview
This method classifies inventory into three groups namely A, B, and C to prioritize the management of inventory (Jones, P. ,and Robinson, P. 2012). The ABC system groups the various inventory items in the organization based on their individual costs and usage and then assigns them to a particular category where there is an effective control of materials with respect to their values and demand levels. Class A items are the most managed…
(806 Words)