These reports Indicate the ABC indicators for materials based on their Consumption value.You can bifurcate the materials (ABC Indicators)based on Consumtion Value( both Percentage and absolute figure) or Number of materials(both Percentage and absolute figure)
ABC analysis is a business term used to define an inventory categorization technique often used in materials management. It is also known as Selective Inventory Control.
ABC analysis provides a mechanism for identifying items which will have a significant impact on overall inventory cost whilst also providing a mechanism for identifying different categories of stock that will require different management and controls
When carrying out an ABC analysis, inventory items are valued (item cost multiplied by quantity issued/consumed in period) with the results then ranked. The results are then grouped typically into three bands. These bands are called ABC codes.
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