Abc Analysis Theory Based Relevance Global Operations Management Define Explain Attributes Q34216205

What is ABC Analysis and on what theory is it based and whatrelevance does it have in Global Operations Management. Define andexplain its attributes, features and rationale.

Expert Answer

Definition of ABC analysis:
ABC analysis is a method of inventory control and management thatincludes a system that controls inventory and helps in thedistribution management process. It is also called selectiveinventory control.

Relevance for global operations management, attributes,features and rationale:

• It is an integral process of inventory management at the globallevel and is used for unfinished goods, manufactured products,spare parts, components and even finished items.
• The process divides all the items into three categories A, Band
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