Method inventory control is based on pareto analysis, Business Management

Assignment Help:

QUESTION

(a) Describe how the ABC method/technique of inventory control is based on Pareto analysis

(b) You are part of a team who is carrying out a study on the causes of inventory discrepancies in a Ministry. The team has collected the following information over a period of I2 weeks:

No of incidents

(a) Wrong recording of issues                                                                         6

(b) Wrong recording of receipts from suppliers                                                 2

(c) Over issue of stock                                                                                   26

(d) Under issue of stock                                                                                 8

(e) Error in counting inventory on hand                                                           4

(f) Pilferage                                                                                                  14

You are required to analyse the above information using Pareto analysis

(c) A study was conducted to determine the shrinkage rate of a material over time. 10 kg of the material was used for the test and measurements were taken over a period of 7 weeks. The results are shown below

Week                                                                 Weight (kg)

   1                                                                               9.7

   2                                                                               8.1

   3                                                                               7.4

   4                                                                               5.9

   5                                                                               5.1

   6                                                                               4.2

   7                                                                               3.3

You are required to analyse and comment on this information by using the appropriate quality tool.

(d) Data pertaining to the weight of an item has been collected over a period of 2 weeks as set out below;

Weight (kg)                                                                 no of items

10                                                                                            4

10.2                                                                                         6

10.3                                                                                         8

10.4                                                                                         10

10.5                                                                                         7

10.6                                                                                         5

10.7                                                                                         3

You are required to plot the data using a histogram and to comment thereon. .

 


Related Discussions:- Method inventory control is based on pareto analysis

Explain logistics networking, Question 1 Explain the economic and social o...

Question 1 Explain the economic and social objectives of Business Question 2 Explain the concept Co-operative Sector and its types Question 3 Explain Logistics Networkin

#a review of two articles, prepare review of articles on the role/impact/co...

prepare review of articles on the role/impact/contribution of information system in business

Describe the term e-procurement, (i) Compare the categories of electronic c...

(i) Compare the categories of electronic commerce and explain how e-commerce is changing consumer retailing and business to business transactions. (ii) Describe the term ‘e-pro

Describe breaking geographic business barriers, Q. Describe Breaking Geogra...

Q. Describe Breaking Geographic Business Barriers? Several companies today operate from several locations and have customers or suppliers at distant locations and do business i

Analyze a work activity for organization, Analyze a work activity in your s...

Analyze a work activity in your selected organization using appropriate objective setting techniques. What are the management and leadership style used in your selected organiz

Elaborate on the recent developments in communication theory, QUESTION 1 ...

QUESTION 1 (a) Elaborate on the recent developments in communication theory as a field of research and study. (b) Elaborate on three main communication theories that mark th

Short term finance, briefly discuss the three shorth term financing problem...

briefly discuss the three shorth term financing problem and provide relevent examples of each?

What is meant by the term hawthorne effect, Question : (i) Analyse ...

Question : (i) Analyse Ray Carr's working life in relation to Mallow's hierarchy of needs. (ii) (a) What organisational structure might have been set up to improve the

Business commuication, What six stages should you go through in preparing a...

What six stages should you go through in preparing an effective outline for a presentation?

How is effective delegation affected in the organisation, How is the Effect...

How is the Effective Delegation affected in the organisation? Effective Delegation: Effective delegation is said to exist while an executive in place of doing all the thi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd