ABC Inventory Classification Tools
Necessary Tools for the
ABC Inventory Classification
The ABC classification process is an analysis of a range of items, such as finished products or customers into three categories: A - outstandingly important; B - of average importance; C - relatively unimportant as a basis for a control scheme. Each category can and sometimes should be handled in a different way, with more attention being devoted to category A, less to B, and less to C.
Inventory Control Application: The ABC classification system is to grouping items according to annual sales volume, in an attempt to identify the small number of items that will account for most of the sales volume and that are the most important ones to control for effective inventory management.
Enter the dollar values and demands of up-to-42 distinct items and then click the Calculate button. Blank boxes are not included in the calculations but zeros are.
In entering your data to move from cell to cell in the data-matrix use the Tab key not arrow or enter keys.
To edit your data, including add/change/delete, you do not have to click on the "clear" button, and re-enter your data all over again. You may simply add a pair of numbers to any blank cells, change a number to another in the same cell, or delete a number from a cell. After editing, then click the "calculate" button.
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Professor Hossein Arsham
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