GENERAL KNOWLEDGE

Detailed explanation-1: -The fast-moving, slow-moving, and non-moving inventory control method is classifying the goods/products based on the following parameters. The FSN analysis segregates products based on their consumption rate, quantity, and the rate at which the inventory is used.

Detailed explanation-2: -ABC analysis is an approach for classifying inventory items based on the items’ consumption values. Consumption value is the total value of an item consumed over a specified time period, for example a year.

Detailed explanation-3: -FSN analysis is an inventory management technique. It is an important aspect in logistics. The items are classified according to their rate of consumption. The items are classified broadly into three groups: F – means Fast moving, S – means Slow moving, N – means Non-moving.

Detailed explanation-4: -FSN Analysis is an inventory management technique that is based on the rate of consumption of spares and goods in an organization. This analysis divides the inventory into three categories based on their speed or rate of utilization, their consumption rate, and average stay.

Detailed explanation-5: -Four popular inventory control methods include ABC analysis; Last In, First Out (LIFO) and First In, First Out (FIFO); batch tracking; and safety stock.