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Define ABC analysis. How is ABC analysis used for inventory management? Imagine that you own a manufacturing company that is facing inventory problems. Determine your

Define ABC analysis. How is ABC analysis used for inventory management? Imagine that you own a manufacturing company that is facing inventory problems. Determine your inventoried items (at least 10 items). Then determine the annual usage and unit cost of each item and classify them under Group A, Group B and Group C and complete ABC analysis. How can the data be interpreted?

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