Inventory management - How can inventory be controlled
3 important questions on Inventory management - How can inventory be controlled
A way of discriminating between different stock items. It is calculated by taking the usage rate and multiplying it with their individual value.
Usage value
80/20 rule. Typically 80 per cent of the sales are accounted for by 20 per cent of all stock item types.
pareto principle
Different criteria that contribute towards the classification of an item:
- Consequence of stock-out
- Uncertainty of supply
- High obsolescence or deterioration risk.
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