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

Differentiate between gross settlement and netting, QUESTION a) (i) Out...

QUESTION a) (i) Outline the concept of the Real Time Gross Settlement (RTGS) system in Mauritius and name the THREE main system components of the MACSS. (ii) Differentiate b

Conduct a force-field analysis, Enacting change is difficult. The forces th...

Enacting change is difficult. The forces that create the need for change often bump up against equally powerful forces of resistance. Think of an organization with which you are fa

Classification and identification of inventories, The inventory includes st...

The inventory includes stocks of raw materials semi finished goods finished and components etc, of several description. In order to facilitate prompt recording locating and

Organisation, enumerate on the princeples of organisation

enumerate on the princeples of organisation

How is pricing affected in marketing management, How is pricing affected in...

How is pricing affected in marketing management? Pricing: The price of the products is implies whereby manufacturers acquire a fair return for their labour and replace/ra

Contemporary Management, I''m kindly asking to make an assignment against "...

I''m kindly asking to make an assignment against "Contemporary Management Issues" in maximum words of 2,500 words as per the attachment. kindly try to finish them as soon as possib

What role does fed play, Question 1 As a trader in order to be competitive...

Question 1 As a trader in order to be competitive and successful, how can you address some risks that are peculiar to foreign trade like commercial risks and political risks?

Partnership question, The Williams & Wiley partnership has two partners and...

The Williams & Wiley partnership has two partners and each partner has $50,000 invested in the firm. Woods is admitted to the partnership for one-third interest and invests $80,000

Assigment, How will you influence people to strive willingly for group obje...

How will you influence people to strive willingly for group objectives in your organization (target bases industry)? apply your interpesonal influence throught communication proces

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