Discussion
The system which is based on the utility of the material :
Answer: C
The system based on the utility of the material is VED analysis.
VED classifies items as Vital, Essential or Desirable according to how critical they are to the work, for example to patient care in a hospital pharmacy. Vital items must never run out, whatever they cost.
ABC analysis classifies items by annual consumption value (cost), not by utility. EOQ analysis works out the economic order quantity that minimises ordering and carrying costs. Perpetual inventory is a method of keeping stock records up to date continuously.
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