Stores - AAC approval of ABC Categories
Designed to help the candidates appearing the Appendix 3, LDCE, 70% etc of Railway Accounts
Friday, March 29, 2024
Wednesday, November 15, 2023
Inventory Control - Methods
Inventory Control - Methods
Method |
Stands for |
Based on |
ABC |
A / B / C |
Pareto principle |
FSN |
Fast / Slow / Non
- Moving |
On the level of
consumption (moving), frequency of demands and their utility |
GOLF |
Government /
Ordinary / Local / Foreign - Source |
On the source of
supplies |
HML |
High / Medium / Low
- cost per unit |
On the unit cost of
items |
SDE |
Scarce / Difficult /
Easily - availability of item |
On the criteria of
availability of item |
SOS |
Seasonal / Off
seasonal - item |
On the nature of
supplies |
VED |
Vital / Essential /
Desirable - items |
On the criticality
in end use |
XYZ |
High / Medium / Low
- Inventory value |
On inventory value
of items at a given time |