Based on the work of Max Otto Lorenz and Alfredo Pareto, there is a versatile and widely used analysis technique calle dthe ABC-Analysis. The aim of it is to differentiate between significant (A) and less significant (C). This way, the objects to be examined are classified.
The objects with a relatively high contribution (e.g. on the result, value etc.) and a low presence (in quantity, consumption, frequency, etc.) are classified as A-objects, while the objects with a relatively low contribution and high presence are classified as C-objects.
The ABC analysis can often be found in the classification of products, services, related groups (customers, suppliers, employees, etc.).
The ABC analysis can be used as a decision tool as well as a visualization tool and as a basis for further analyzes. It is easy to learn and implement and is suitable for a medium to large database.
In plastics technology, this analysis method can be applied to the material storage, for example. Masterbatch and additives have a low presence, but make a high contribution to the result and are therefore A-objects. Common PP materials can easily be replaced by others and are therefore more C-objects.