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ABC classification

ABC classification

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ABC classification process is an analysis of a range of items, such as finished products or customers into three categories: A - outstandingly important; B - of average importance; C - relatively unimportant as a basis for a control scheme.
ABC classification is most often associated with inventory control, but the system can be used to rank things such as which customers are most important of which business segments cause the most financial risk, which employees are most valuable or which parts of a process are most likely to cause a bottleneck.