ECONOMICS

Detailed explanation-1: -VED analysis is used primarily for control of spare parts can be divided into three categories-vital, essential & desirable.

Detailed explanation-2: -VED Analysis This technique is mainly used to control spare parts of inventory. A business will focus on vital and essential parts of the inventory that are crucial to the production process while maintaining just enough amount for desirable parts that are not absolutely necessary.

Detailed explanation-3: -Criticality analysis of spare parts using the analytic hierarchy process.

Detailed explanation-4: -Perpetual Inventory System Was this answer helpful?

Detailed explanation-5: -VED stands for vital, essential and desirable. This analysis relates to the classification of maintenance spare parts and denotes the essentiality of stocking spares. The spares are split into three categories in order of importance.