Inventory Control

Problem $1\mathrm{.}1$ To clarify the ABC inventory classification, you should answer to these questions briefly.

How ABC analysis supports inventory control best practices?

How do you conduct an ABC analysis for inventory control and management?

Problem $1\mathrm{.}2$ We would like to apply the ABC method for the classification of the following items.

Complete the table

$\backslash$table$[[$Part Number,Unit Usage,Unit Cost $$,$Annual $ Usage$],[1,1100,2,],[2,600,40,],[3,100,4,],[4,1300,1,],[5,100,60,],[6,10,25,],[7,100,2,],[8,1500,2,],[9,200,2,],[10,500,1,],[$Totals$,5510,,]]$

Make the classification by Item Type.

$\backslash$table$[[\backslash$table$[[$Part$],[$Number$]],\backslash$table$[[$Unit$],[$Usage$]],\backslash$table$[[$Unit Cost$],[$$$]],\backslash$table$[[$Annual $$],[$Usage$]],\backslash$table$[[$Cumulative$],[$$ Usage$]],\backslash$table$[[$Cumulative$],[\%$ $$]],$Cumulate $\%$ Items,Class$],[,,,,,,,],[,,,,,,,]]$