XYZ classification categorizes inventory based on usage rates into X items which are frequently used, Y items which are moderately used, and Z items which are rarely used. HML classification categorizes inventory based on monetary value into H items which are of high value, M items which are of medium value, and L items which are of low value. Both classifications aim to improve inventory management by identifying important and less important inventory items.
XYZ classification categorizes inventory based on usage rates into X items which are frequently used, Y items which are moderately used, and Z items which are rarely used. HML classification categorizes inventory based on monetary value into H items which are of high value, M items which are of medium value, and L items which are of low value. Both classifications aim to improve inventory management by identifying important and less important inventory items.
XYZ classification categorizes inventory based on usage rates into X items which are frequently used, Y items which are moderately used, and Z items which are rarely used. HML classification categorizes inventory based on monetary value into H items which are of high value, M items which are of medium value, and L items which are of low value. Both classifications aim to improve inventory management by identifying important and less important inventory items.