Perform ABC, Frequency & Lifecycle Classification

Hi,
   More information about “Perform ABC, Frequency & Lifecycle Classification” can be found in case journal of G1941375. I have copied it here.

“The ABC Class - The code value for the ABC class, as retrieved from the ABC Classes tab of the Inventory Basic Data window.  The system is installed with three classes with the following default settings: A80%, B15%, and C5%.  In ABC analysis, the values of the parts are calculated in terms of volume and the parts are sorted in value order. ABC classes enable tighter control over high-volume value parts to keep the inventory level as low as possible. After the ABC analysis has been completed, the parts are classified by code letter according to how much of the total volume value each class represents. Class A indicates high-volume value parts and class C indicates low-volume value parts.

Frequency Class - The frequency class defines if a part should be considered as a fast, medium, slow or a very slow moving part. It is calculated based on the number of issues made during the periods used for the classification job.  When you run the Perform ABC, Frequency Class and Lifecycle Classification, you enter a number of periods that should be used and this is what the analysis should be based on.

Lifecycle Stage - The Lifecycle Stage is decided by different offsets in days set in either the company or asset class.  The Asset Class is another field on the Inventory Part that uses entries on the following fields to help determine what the value on the inventory Part should be...
- Upper Frequency Limit Very Slow Movers
- Upper Frequency Limit Slow Movers
- Upper Frequency Limit Medium Movers
- Introduction Duration Days
- Decline Inactivity Days
- Expired Inactivity Days
- Max Number of Issues for Decline
- Max Number of Issues for Expired
- Classification Periods
The number of periods used for the specified asset class when performing classification. Note that this is only used when classification is set to be done per asset class on site and also that this will override the value specified in the dialogue for performing ABC, Frequency, and Lifecycle classification. If no value is specified it will be the number of periods that is specified in the classification job dialogue that is used.”

/Asanga
 

Thanks guys for all the info. Just what I needed. Now I can test it and anticipate what results I get.

Cheers, Chris.

Hallelujah!  Thanks from me too.