Question: Estimate the annual usage value and average inventory level (or value) and space occupied by 20 representative items of food used within your household or

Estimate the annual usage value and average inventory level (or value) and space occupied by 20 representative items of food used within your household or that of your family. Using Pareto analysis, categorize this into usage value groups (e.g. A, B, C), and calculate the average stock turn for each group. Does this analysis indicate a sensible use of capital and space, and if not, what changes might you make to the household’s shopping strategy?

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Performing a Pareto analysis on household items can help identify which items have the highest usage value and thus the highest impact on capital and ... View full answer

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