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

#title. group international expansion report and presentati., The Bank has ...

The Bank has developed a reputable brand in the Australian and New Zealand markets and is now looking for suitable acquisitions and strategic partnerships in foreign markets in ord

Investment management, You are a manager in the investment industry, whose...

You are a manager in the investment industry, whose role is to provide investment portfolio advice and managementto a client, who is your investorprincipal. You should identify t

Developing a strategic information base, Information system as well allows ...

Information system as well allows a firm to develop a strategic information base that is able to provide information to support the firm's competitive strategies. Information in a

Disposal of rejected product, The product which is rejected in final ins...

The product which is rejected in final inspection represents a direct loss to the manufacturer. Therefore most companies have a system of review of the rejected product. This

Risk can be both good and bad. briefly discuss, QUESTION (a) Discuss wh...

QUESTION (a) Discuss why effective communications are particularly important in project teams and give examples of formal and informal communication channels that are likely to

Explain epayments, Question 1 International banking system enables trading...

Question 1 International banking system enables trading in multiple currencies. Explain the concept and need of international banking Question 2 Define and explain capital a

Determine the cost and profit of product, You have decided to sell some goo...

You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your

Discuss the relevance of herzberg theory of motivation, Problem 1: "Pla...

Problem 1: "Planning is important for the success of an organisation. Yet many organisations are reluctant to be involved in the planning process". Discuss the validity of thi

Performance management, You just got an important request from the organiza...

You just got an important request from the organization's President to conduct an audit of the company's current appraisal system.  By far the most problematic and volatile issue a

Explain how the people and payroll system could benefit ld2, The LD2 group ...

The LD2 group has grown rapidly over the past five years by acquiring a number of smaller kitchen accessory manufacturers and kitchen suppliers and fitters. As a consequence of 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