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

Cycle inventories, Cycle inventories are held for the reason that purcha...

Cycle inventories are held for the reason that purchases are usually made in lots rather than the exact amount which may be needed at a point of time. Of course if all p

Quantitative Applications in Management & Research, Ques.1 Comment on “Quan...

Ques.1 Comment on “Quantitative Techniques is a scientific and for enhancing creative and judicious capabilities of a decision maker”, also state the different elements of Decision

Scenerio and script ( business society and planet), hi, i m just asking abo...

hi, i m just asking about my subject business,society and planet. i just want to make a assign,ent on the scenerio and script about virgin australia any ethical issuse are you make

Value chain analysis, Primary activities of a Hotel in value chain analysis...

Primary activities of a Hotel in value chain analysis.How a big hotel performs them?

You are contracted to provide an assessment and reco, how much will be the ...

how much will be the cost for 3000 words deadline in 9th june

Pharmaceutical services industry, Paisano Pharmacies, a fictitious business...

Paisano Pharmacies, a fictitious business in the pharmaceutical services industry, is owned by VictorPaisano. Currently, Paisano has two pharmacieslocated in Killeen and Temple, Te

What are the strong retention strategies, Question : "Strong retention ...

Question : "Strong retention practices may reduce turnover, but they limit the introduction of new talent, knowledge and perspectives, leading organisations to become stale an

Explain how the concept of elasticity, QUESTION Domino's sold a 12" Piz...

QUESTION Domino's sold a 12" Pizza for Rs 265. The table below refers to the for price range for Domino's and Pizza Hut. The high price was attributed to the high quality of in

Evolution of management, what characteristic of scientific management can y...

what characteristic of scientific management can you identify of ups

Transformational leadership, Transformational leadership: The transfor...

Transformational leadership: The transformational leadership style depends on high levels of communication from management to meet goals. Leaders motivate employees and enhanc

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