Question 65 of 78
Q.What is ABC analysis system of inventory control?
ChseodishaCHSE Odisha Plus Two (Class 12) Commerce Board 2023Subjective· 2mImportance★★★★★est
83% · 65/78 Questions
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Start your 14-day free trial to unlock the full solution →ABC = 'Always Better Control' — selective control of inventory by value.
ABC analysis is a technique of selective inventory control based on the principle that a small number of items usually account for a large part of the total material value. Items are grouped as:
- A items — few in number (say ~10%) but a large share of value (~70%); need very tight control (low stocks, frequent review, EOQ).
- B items — moderate in number and value; need moderate control.
- C items — large in number (~70%) but small in value (~10%); need loose, simple control (bulk ordering, less frequent review). …
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