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 about the term lead time, Explain about the term Lead Time. L...

Explain about the term Lead Time. Lead Time: It is the time which takes the stock to reach through Re-order point to minimum stock level. This may be also described as th

Illustration based on production sectors, Production Sectors a) A = In...

Production Sectors a) A = Indonesia B = Belgium C = Czech Republic b) Indonesia Belgium Czech Republic Agricultu

Discuss the role of the wto, QUESTION 1 The World Trade Organization (W...

QUESTION 1 The World Trade Organization (WTO) deals with the rules of trade between nations at a global or near-global level. Discuss the role of the WTO in promoting internati

Office administration, 1.how to draw a stock control card and discuss the c...

1.how to draw a stock control card and discuss the completion process . 2.Discuss the layout of the work space, to prevent accidents and injuries. 3.Explain the difference in level

Describe the relevance of herzberg theory of motivation, QUESTION 1 Des...

QUESTION 1 Describe the relevance of Herzberg theory of motivation in motivating employees in practice QUESTION 2 (a) Why do you think organizations are giving increase

Identify five basis functions of the organization, A company Mission statem...

A company Mission statement should determine / identify 5 basis functions of the company, select and discuss 4 elements you have identified in the Airbus Industries mission stateme

Benefit from a mobility strategy, Your sales department just requested CIO ...

Your sales department just requested CIO approval  for a best-of-breed mobility solution for their sales account executives and sales management. Since your company does not yet ha

Librarians have grouped sources of information, QUESTION (a) Reference ...

QUESTION (a) Reference Librarians have grouped sources of information in three (3) categories. Can you identify these three (3) groups? (b) How can you distinguish between t

Planning for Long-Term Success, You are to write a three to four (3–4) page...

You are to write a three to four (3–4) page paper that answers the following: Once an organization has identified its business foundation, it begins the process of developing

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