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Three systems for controlling inventory

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Discuss three systems for controlling inventory and the advantages and disadvantages of each.

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The solution explains three systems for controlling inventory.

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Three systems for controlling inventory are

1. ABC system - In this method, the inventory items are divided into three categories - A, B and C. A category items are items which are used in low quantities and have higher per unit cost. C category items are high use items with low unit cost and B category items are in between. Once the items are categorized, there is higher emphasis of managing a category items as compared to C category items. This method works on the ...

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