4) Senior Management of FMCG Inc., a consumer goods company want to analyse their product range. The goal of this analysis is to evaluate which products are of particular importance and which products are less important. Senior Management has decided to use the annual consumption value as the key figure to assess the product range. As the Supply Chain Analyst, use ABC analysis to classify the goods according to their levels of importance and present a report to Management. In your report, specify which items should be closely controlled, regularly reviewed and infrequently reviewed. Suggest ways to manage these products.

SKU No. Annual Consumption Unit Price

FM003401 148.00 6.10

FM003402 168.00 0.15

FM003403 1,012.00 0.20

FM003404 352.00 0.40

FM003405 383.00 9.50

FM003406 437.00 0.25

FM003407 418.00 0.45

FM003408 359.00 0.90

FM003409 482.00 0.70

FM003410 600.00 0.02

FM003411 190.00 1.01

FM003412 298.00 4.20

FM003413 105.00 0.30

FM003414 110.00 0.44

FM003415 710.00 31.60

FM003416 470.00 0.38