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 the importance of conducting business meetings, Question 1: (a)...

Question 1: (a) In most business organisations, communication will flow: 1. Upwards 2. Downwards 3. Horizontally Briefly describe each of the above communication flows.

Cultural context, Problem 1 a) What do you meant by cultural context? ...

Problem 1 a) What do you meant by cultural context? b) Differentiate between low-context cultures and high-context cultures. c) How will we improve intercultural commu

Auto business question, An automobile manufacturer observes the demand for ...

An automobile manufacturer observes the demand for its brand increasing as per capita income increases. Sales increases also follow low interest rates, which ease credit conditions

ABC liometed, 2. What, in your opinion, could be the reasons for different ...

2. What, in your opinion, could be the reasons for different managerial thoughts in this case?

Explain what you understand by the term planning, Question : According ...

Question : According to Henry Fayol, planning is the primary function of managers in an organization. However, there is no empirical evidence that organizations that plan are

Performance appraisal and career progression of individual, Define the perf...

Define the performance appraisal and career progression of individual. Performance Appraisal and Individual’s Career Progression: Performance appraisal assists in unearth

Inernationalisation of small scale indutries, i have to write a research pa...

i have to write a research paper on the topic on internationalization

Describe the communication flow in organizations, QUESTION 1 (a) Descri...

QUESTION 1 (a) Describe the Five basic propositions which form the premise of Neher‘s views on organizational communication. (b) Describe the communication flow in organizat

Explain the three core dimensions of cooperative work., QUESTION Many ...

QUESTION Many organisations rely on different types of collaborative software to support cooperative work within their different business functions. (a) How is groupware di

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