ABC inventory control classifies items (typically A, B, C) by their usage value or demand criticality so that resources focus on the few items that account for most of the value or movement. "A" items are tightly controlled and reviewed frequently; "B" get moderate attention; "C" are managed with simpler controls. This stratification supports targeted cycle counting, purchasing policies, and storage strategies to optimize accuracy and cost. FIFO/LIFO are stock rotation/costing approaches, and JIT is a replenishment philosophy-not a prioritization scheme.
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