Which of the following inventory management techniques would work best for firms where a small portion of inventory in terms of quantity might represent a large portion in terms of inventory value?

Question

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The ABC approach is most suitable for situations where a small portion of inventory represents a large portion of the inventory value. This technique categorizes inventory into three classes (A, B, and C) based on its importance and value, with "A" items being the most valuable and requiring the most attention. This allows firms to focus resources and management efforts on the most critical items.

Which of the Following Inventory Management Techniques Would Work Best