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ABC analysis, classifies items in terms of annual financial requirement.
FNS analysis, classifies items in terms of their movement speed (Fast, Normal, Slow; Nair 2002).
The LC framework then classifies items according to two dichotomies: 1.
VED analysis, classifies items in terms of their functional importance (Vital, Essential, Desirable).
The following three popular classification methods, so called selective inventory control techniques, are usually applied for grouping inventory items: ABC analysis, classifies items in terms of annual financial requirement.
The policy uses a 'traffic light system' that classifies items using the colours red, amber and green, to indicate the least to most healthy choices, respectively.
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Precision (P) is the number of correctly classified items over the total number of classified items with respect to a class.
Binary tests classify items into two categories such as reject/accept or positive/negative.
Under the federal law, museums are asked to classify items they intend to repatriate.
"People can drag and drop them in," he said, "or use an annotation to classify items one by one, for instance, in a group photo".
And there are tough-to-classify items, like wooden doors from a Hungarian wine cave ($1,250).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com