Question: Question 3 (30 marks) (a) Explain the ABC analysis in inventory management (10 marks). (b) Use the ABC analysis to categorize the following items using

Question 3 (30 marks) (a) Explain the ABC

Question 3 (30 marks) (a) Explain the ABC analysis in inventory management (10 marks). (b) Use the ABC analysis to categorize the following items using the data in the table below (15 marks). Item stock No X1 X2 X3 X4 S1 Unit Cost ($) 2 3 1 Annual Volume (Units) 850 810 1507 200 100 910 1600 130 1 1 S2 S3 S4 1 2 10 (c) As an Operations Manager how are you going to use this analysis to manage your inventory

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