[5] Q3(a). Explain the purpose of ABC analysis. (b). Oman Euro Industries LLC has fifteen products in their inventory. The yearly usage and the cost per plece of the products are given in Table Q2(b). Product Cost por Yearly SI.No. Codo Ploco Usage 1 P001 RO 10.000 1800 2 P002 RO 0,200 4000 3 P003 RO 20.000 90 4 P004 RO 20.000 600 5 P005 RO 13,000 200 6 P006 RO 200.000 8 7 POO7 RO 90.000 1000 8 P008 RO 2.500 4000 9 P009 RO 2.000 1400 10 P010 RO 0.120 5000 11 P011 RO 0.200 12000 12 P012 RO 20.00 110 13 P013 RO 200.000 19 14 P014 R 25.000 2000 15 P015 RO 7.000 200 Table Q2(b) Perform ABC analysis on the fifteen products in inventory and assess which of the products falls in the ABC classes of inventory. (c). Critically evaluate the three classes of inventory and recommend a suitable inventory plan for each class [15] [5] Total 25 Marks