ABC classification is an inventory control system that classifies items based on the total dollar volume of sales each generates.

Name: ABC classification is an inventory control system that classifies items based on the total dollar volume of sales each generates.
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ABC classification is a method used in inventory management to categorize items based on their importance, often determined by the total dollar volume of sales or usage, with 'A' items being the most valuable and 'C' items being the least.

ABC Classification Is an Inventory Control System That Classifies Items