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    Question

    The inventory management technique that categorizes

    inventory into three classes - A, B, and C - based on their value and quantity is known as:
    A Economic Order Quantity (EOQ) Correct Answer Incorrect Answer
    B Just-In-Time (JIT) Correct Answer Incorrect Answer
    C ABC Analysis Correct Answer Incorrect Answer
    D VED Analysis Correct Answer Incorrect Answer

    Solution

    ABC Analysis is an inventory categorization technique. 'A' items are high-value with low frequency, requiring tight control. 'B' items are moderate value and quantity. 'C' items are low-value with high frequency, requiring simpler control. This helps in focusing management efforts where they matter most.

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