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ABC Analysis in the Wokrplace

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Explain how you would use ABC analysis in your workplace. Include a table similar to Table 6.8 (attached) in your answer.

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Solution Summary

This response explains the uses of ABC analysis and provides an example.

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ABC analysis ranks the merchandise by a pre-determined pre-performance measure. It helps in determining which items should be there though out the year, which should be there occasionally and which should be deleted. ABC analysis utilizes the 80:20 principle, which implies 80% of the sales come from 20% of the products. The first step in the ABC analysis is to rank order SKUs ...

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