(ABC analysis) Consider the following list of retail items sold in a Greensboro Museum gift shop. Item...
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Question:
(ABC analysis) Consider the following list of retail items sold in a Greensboro Museum gift shop.
Item | Annual Volume | Average Profit per Item |
Greeting Cards | 3870 | $0.40 |
T-shirts | 1550 | 1.25 |
Men's jewelry | 875 | 4.50 |
Novelty gifts | 2050 | 12.25 |
Children's clothes | 575 | 6.85 |
Chocolates cookies | 7000 | 0.10 |
Earrings | 1285 | 3.50 |
Other costume jewelry | 1900 | 15.00 |
Q4) Rank the item categories in decreasing order of the annual profit. Classify each into one of the A, B, or C categories.
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