ABC evaluation (Always Better Control):
- Class A - item: 10 % of the item accounts 75% costs.
- Class B - item: 20% of the item accounts for 15% of costs.
- Class C - item: 70% of the item accounts for 10% of costs.
VED Analysis (Vital, Essential, Desirable):
- Without which the production process would halt is vital.
- Their absence will negatively impact the effectiveness of the production system, which is E-Essential. It should be treated as secondary.
- D-Desirable: Although the process can function without them, it would be better if they were available for increased efficiency.
SDE Evaluation (Scarce, Difficult, Easily Available):
- S-Scarce: Imported goods that are typically hard to come by
- Difficult: These are marketed, but not necessarily traceable or available right away.
- Easily accessible in the marketplace
Analysis of HTML (High, Medium, Low cost):
- Items with the highest unit costs, or those with the highest priority, are designated as H-Highest.
- M-Medium: Goods with a medium value per unit cost
- L-Low: Products with low unit costs
FSND Evaluation (Fast, Slow, Nonmoving, Dead items):
- Fast-moving items: Those that are consumed quickly
- N-Normal moving items: Those used up over the course of a year
- S-Slow-moving items: These items are rarely supplied and are used up over a two-year or longer period of time.
- D-Dead things: Such products are hardly ever consumed. It may also be interpreted as outdated stuff.
VED analysis of inventory control stands for - (a) Value, Engineering and Desirable (b) Value, Essential and Desirable (c) Vital, Essential and Desirable (d) Value, Essential and Demand
VED stands for Vital, Essential, and Desirable in the inventory control analysis. Many things are present in the inventory and all of them are of no equal importance.