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Abstract VED analysis is an inventory management technique that classifies inventory based on its functional importance. It categorizes stock under three heads based on its importance and necessity for an organization for production or any of its other activities. VED analysis stands for Vital, Essential, and Desirable. Keywords Vital, Essential, Desirable. Inventory, Materials Management,  Learning Outcomes After undergoing this article you will be able to understand the following 1. What's VED Analysis? 2. Why VED analysis is important for inventory management? 3. How the categories of  VED analysis are effectively carried out? 4. What are the benefits of VED analysis? 5. What are the shortcomings of VED analysis? 6.  What's the Applications of VED analysis? 7. How to devise strategies for VED analysis in inventory Management ? 8. Conclusions 9. FAQs References  1. What's VED Analysis? VED analysis is an inventory classification techniq

Abstract :  ABC (Always Better Control) analysis is one of the most commonly used inventory management methods. ABC analysis groups items into three categories (A, B, and C) based on their level of value within a business.  In analysing the Pareto Principle is applied in a systemotic pattern  Keywords : ABC Analysis, Inventory, Operations Optimisation, Annual Consumption Value, Pareto Principle  Learning Outcomes After undergoing this article you will be able to understand the following 1. What's ABC Analysis? 2. Why ABC analysis for inventory management is used 3. What are the categories of classifying inventory with ABC analysis? 4. How Pareto Principle is applied in ABC Analysis? 7. What are the benefits of ABC analysis? 8. What are the shortcomings of ABC analysis? 9. How to use ABC analysis with inventory Management strategically? 10. Conclusions 11. FAQs References  1. What's ABC Analysis? ABC analysis is an inventory management techniq