What You’ll Learn…
- The ABC inventory management methodology
- How to assign the ABC classification using your data
- How to simulate your inventory turns based on different ABC %'s
- The Limits of ABC analysis and ABC inventory managment
What You’ll Get…
1. A self study guide - 8-10 pages explaining ABC Classification process
2. A comprehensive inventory spreadsheet - enabling ABC analysis
3. A professional video - explaining "how to use" the inventory spreadsheet
Our approach is entirely new. There is nothing like it on the Internet.
Click for more information on "what you'll get" and the "benefits"
What The Spreadsheet Will Enable You To Do…
- Enable you to enter your own data
- Assign ABC analysis codes to your data based on various % splits
- Calculate inventory turns based on % splits and re-order frequency
- Calculate impact of slight variations in % splits on the # items to be counted
Originally based upon an observation by Italian economist Vilfredo Pareto, the “Pareto Principle” -- also known as the 80/20 or ABC Inventory Managment -- is an axiom that states “A minority of input produces the majority of results.” In other words, about 80% of positive results can be traced to 20% of originating causes. The same principle can be used to predict and explain quite a few business and inventory management phenomena. In this module, you’ll learn how to make the Pareto Principle work for you.
You will learn how just a few items (relatively) affect the big picture, how to spend your time and money more wisely to generate the most gain, what processes in your business bring you the most pain and headaches, which areas require the most focus. The information gained by conducting ABC analysis and ABC classifications should, in no uncertain terms, practically help you run your business more successfully.
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