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Describe the ABC Inventory Classification Approach

question 49

Essay

Describe the ABC Inventory Classification approach. How might this approach be used at a store selling cell phones and accessories?


Definitions:

Economic Research Service

A U.S. government agency providing economic research and analysis, primarily in agriculture, food, the environment, and rural economies.

U.S. Census Bureau

A leading organization within the U.S. Federal Statistical System tasked with generating statistics about the population and economic conditions of the United States.

Repository

A central place where data, documents, or other materials are kept and managed.

External Secondary Data

Information collected from outside sources that was originally gathered for another purpose but is being used for current research or analysis.

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