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 Annual Volume Unit Cost No (Units ($) X1 850 2 X2 810 3 X3 1507 1 X4 200 1 S1 100 1 S2 910 1 S3 1600 2 S4 130 10 (15 marks) As an Operations Manager how are you going to use this analysis to manage your inventory. (c)

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