Which of the following is an approach to inventory management that recognizes that different items have different values and levels of importance?

Question

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The ABC system is an approach to inventory management that categorizes items into three groups: A items are high-value items that account for a significant portion of inventory value, B items are moderate-value items, and C items are low-value items that make up a large proportion of inventory but contribute relatively little to inventory value. This approach recognizes that different items have different values and levels of importance, allowing for more effective allocation of resources and prioritization of inventory management efforts.

Which of the Following Is an Approach to Inventory Management