Institute of Mathematics and Informatics Bulgarian Academy of Sciences
Serdica Journal of Computing, Vol. 13, No 3-4, (2019), 183p-196p
The technologies in the IT industry play an important part in all areas of business and education
in the contemporary world. It is hard to imagine how most activities could go smoothly without computer
and software. The purpose of this paper is to present an idea for inventory ABC analysis. A sample dataset
is used. A classification of the inventory by empirical and graphical method in MS Excel is carried out. The
application of ABC analysis in inventory management leads to a differentiation of inventories into three
groups – the most essential, the least essential for the activities of the organization, and all between them.
Depending on the level of importance of the inventories, different approaches for their management are
recommended. This leads to the need of optimizing logistic costs. The proposed approach can be used in
the educational processes for students and also for real practical applications in inventory management
ACM Computing Classification System (1998): H.4.1.
Mathematics Subject Classification – MSC2020: 90B05.