Which of the following statements is most accurate?
A) about 20% of the items will usually account for about 80% of the total value
B) 'A' class items should have the tightest possible control
C) the general rule using the ABC approach is to have plenty of everything in stock
D) a and b only are true
E) none of the above is true

Question

Quizplus · Accepted Answer

Statement A refers to the Pareto Principle, which is often applied in inventory management. Statement B reflects the typical approach of assigning stricter controls to high-value items. Therefore, both statements A and B are true. Statement C is false, as the purpose of the ABC approach is to prioritize items based on their value and manage them accordingly. Therefore, the correct answer is D.

Which of the Following Statements Is Most Accurate