oboloo Glossary

Abc Analysis Supply Chain

oboloo Glossary

Abc Analysis Supply Chain

Abc Analysis Supply Chain in procurement is a strategy used to prioritize different items of stock according to their value. By analyzing products and services in terms of their cost and usage, companies can identify which items are most critical to their operations and then allocate resources accordingly. This approach allows businesses to reduce unnecessary spending while ensuring they have the right products and materials available when they need them. With an effective ABC analysis in place, businesses can streamline their supply chain and maximize profits.