Question
Download Solution PDFABC analysis deals with
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFExplanation:
ABC analysis is related to Controlling the inventory costs money
Explanation:
ABC Analysis means Always Better Control.
- It is a method of inventory control that involves a system that controls inventory is used for the material throughout distribution.
- It is also known as Selective Inventory Control (SIC).
- This method divides the subject/inventory into three categories.
- Inventory items are classified based on their annual usage value in monetary terms.
- The ABC analysis is based on the empirical observation, known as the Pareto principle or the 80/20 rule, that the top 20% of the items usually represent 80% of the sales volume, no matter which measurement unit is chosen.
Class A - item: 10 % of the item accounts 75% costs.
Class B - item: 20% of the item accounts 15% costs.
Class C - item: 70% of the item accounts 10% costs.
Last updated on May 30, 2025
-> The ISRO Technical Assistant recruitment 2025 notification has been released at the official website.
-> Candidates can apply for ISRO recruitment 2025 for Technical Assistant from June 4 to 18.
-> A total of 83 vacancies have been announced for the post of Technical Assistant.
-> The Selection process consists of a written test and a Skill test.
-> Candidates can also practice through ISRO Technical Assistant Electrical Test Series, ISRO Technical Assistant Electronics Test Series, and ISRO Technical Assistant Mechanical Test Series to improve their preparation and increase the chance of selection.