An inventory management approach that prioritizes products based on their classification in the ABC analysis, focusing more resources on the most valuable items.

A cost management system that tracks financial and operational data on resources, activities, drivers, and measures. ABC models are created and maintained within this system.

A system used by Canada Customs to expedite the release of shipments by allowing electronic data interchange around the clock.

The average time taken by a company to pay for materials used in production after receipt. It’s a measure of the payment cycle for production inputs.