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

Problems that reload might come across includ, b) Problems that Reload migh...

b) Problems that Reload might come across include  Rivals such as Delifrance and Subway are better known multinational companies with well-established customer networks. This p

Characteristics of the manufacturing system, The natures of the production...

The natures of the production process the product design and production planning and plant layout have signification affect on inventory policy. a. Degree of Specializati

Business communication, You work for an accounting firm. Your supervisor as...

You work for an accounting firm. Your supervisor asks you to write a report on a new photocopier which the accounting firm can purchase. In addition to information about its hardwa

Enhance trading activities between the two countries, QUESTION The Stat...

QUESTION The State Bank of Botswana (SBB) offers banking services on a very large scale in Botswana. International trade between Mauritius and Botswana has gone up in the recen

Most significant emerging global economies, The most significant emerging g...

The most significant emerging global economies, in terms of growing power and influence, are normally referred to BRIC economies

COMMERCIAL LAW, 10. State Z’s automobile manufacturing industry is one of t...

10. State Z’s automobile manufacturing industry is one of the largest and most highly regarded in the world. The industry is concerned that it may lose some of its domestic market

Financial management, .discuss the applicability of an operating cycle to p...

.discuss the applicability of an operating cycle to poultry business in uganda

Service marketing, service marketing in information technology?

service marketing in information technology?

Demerits of specialisation include-exquisite flowers, Demerits of specialis...

Demerits of specialisation include: There is superior risk in providing only a restricted range of products or services, i.e. individual traders are not capable to enjoy

Eliminates of manufacturing waste, JIT  is a management  philosophy  that  ...

JIT  is a management  philosophy  that  eliminates of manufacturing  waste  by production  the  right part in the right place at the right time. Waste results from any activity tha

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