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 a few decision-making models in management, Question: (a) Expla...

Question: (a) Explain a few decision-making models in management, giving examples of management decisions in each case. (b) The three main management styles which belong to

Major hrm problems facing contemporary organisations, Question 1: (a) I...

Question 1: (a) In modern organisations, who performs the Human Resource Management tasks? (b) How do the different providers of HR services affect the traditional role play

Domestic market-based organization, Scenario - Imagine you are a newly grad...

Scenario - Imagine you are a newly graduated MBA who has just been appointed as a special consult to the CEO of a major domestic market-based organization. They wish to expand into

Explain diffusion of innovation theory, A) "Diffusion of innovation theory ...

A) "Diffusion of innovation theory is relevant to software, where software is considered as an innovation. In particular, the elements of diffusion, the innovation decision process

objectives of materials handling, Objectives of Materials Handling 1. ...

Objectives of Materials Handling 1. Reduction in Wastage of Machine  time: Proper material handling  system would  ensure  regular  supply  and distribution  of raw  material

Effective oral communication, QUESTION 1 (a) Explain the term "Team". ...

QUESTION 1 (a) Explain the term "Team". (b) Elaborate on the characteristics of effective teams. (c) Discuss the benefits of effective teams to an organisation. QUEST

What are the main components of human communication, QUESTION 1 (a) Ela...

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

Pre requisites of jit program, Pre Requisites of JIT Program Pre requi...

Pre Requisites of JIT Program Pre requisites to a JIT programme include all the actions and preparations that are required of the organization prior to implementing a JI

Understand by the term business process re-engineering, Question: a) Ou...

Question: a) Outline the main sections of a feasibility report and briefly explain the purpose of the typical contents of each section. b) Examine the factors management mus

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