Final answer:
The statement is false; ABC classification is versatile and can be utilized effectively across a variety of industries for optimized inventory management, not just those with occasional customer contact.
Step-by-step explanation:
The statement that ABC classification schemes work well only in industries that require occasional contact with the same accounts, such as medical equipment industries and capital products industries, is false. ABC classification, also known as inventory categorization, is applicable to a wide range of industries. It helps businesses prioritize their inventory management efforts by categorizing items into three classes (A, B, and C) based on factors such as sales volume, cost, or consumption value. 'A' items are the most valuable, whereas 'C' items are the least. The scheme is useful for businesses to optimize their inventory control and focus on the most critical items, irrespective of the frequency of customer contact.