Analyze part classification – A summary of the activity

This activity allows you to perform Inventory or Stock analysis, to classify the parts according to the classification methodologies adopted by the organization. The analysis can be performed only when there are a significant number of past records related to consumption of stock.

The various classification methods that can be adopted by the organization are ABC Analysis, FSN Analysis, XYZ Analysis and VED Analysis. The organization can also have more than one combination of classification methodology such as ABC-FSN, ABC-VED, ABC-XYZ, XYZ-VED, XYZ-FSN or FSN-VED Analysis.

To perform the stock analysis, the system retrieves the information regarding the limiting values set in the “Set Stock Analysis Parameter” page for every class of item, under each classification methodology adopted by the organization.

Once stock analysis is performed and parts are classified, if the option "Part Filters to Update Part Classification" is set as “Allowed” in the “Set Stock Analysis Parameter” activity, the system updates the result in the “Part Administration” business component.

Note: In the “Part Administration” business component, while defining the planning parameters, the materials personnel may define the various part classifications for each part based on the standard cost and anticipated behavior of the part in the organization.

After a certain period of usage, the part classification details of “ABC Class”, “XYZ Class” and “FSN Class” can be overwritten with the actual class of the part on the basis of the stock analysis results, which will be updated in the “Part Administration” business component.

Getting familiar with the pages

What you can do in this activity

Simulate and update analysis

Generate stock analysis report

View analysis details and stock analysis graph

Simulate and update analysis

You can record the part classification analysis carried out based on the analysis planning details, part details and analysis period details. You can also store the simulated part classification analysis details for future reference.

• Use the “Analyze Part Classification” page, to set the analysis planning details, part details and analysis period details for performing the part classification analysis.

• Click the “Simulate Analysis” pushbutton to record the part classification analysis.

• Click the “Update Stock Analysis” pushbutton to save the part classification analysis.

Generate stock analysis report

You can generate a report on the stock analysis performed.

• Use the “Analyze Part Classification” page, to simulate and update the stock analysis.

• Select the “Generate Stock Analysis Report” link, to generate the stock analysis report.

View analysis details and stock analysis graph

You can view the details of the generated stock analysis. You can also view the details of the generated stock analysis in a graphical form.

• Use the “Analyze Part Classification” page, to simulate and update stock analysis details.

• Go to the “Select Stock Analysis” page, to select the stock analysis document.

• Go to the “View Analysis Graph” page, to view the analysis details in a graphical format.