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

Describe effective listening to your new recruits, QUESTION Effective c...

QUESTION Effective communication at the workplace is not entirely dependent on the speaker, but rather it also relies on the receiver's ability to grasp the message. As the Hum

Explain the risk-taking capability of an entrepreneur, Explain the risk-tak...

Explain the risk-taking capability of an entrepreneur. Risk-Taking Capability: Risk is inseparable and inherent element of entrepreneurship. He supposes about the uncerta

Evalite., evaluate the business management system approach adopted by qinet...

evaluate the business management system approach adopted by qinetiq in relation to the changes the organization was and is facing

Describe the technologies used in disaster recovery, 1. Describe the five c...

1. Describe the five core elements of a data centre (form the user through to the storage system). Explain how each element can be made 100% available at all times. 2. While the

Describe the key characteristics of an erp, Question 1: (a) Describe th...

Question 1: (a) Describe the key characteristics of an ERP. (b) If some companies still maintain stand-alone software is good, then why multinational companies are implement

DIESEAL, critically analyse diesel''''s marketing mix strategies

critically analyse diesel''''s marketing mix strategies

Show the main objectives of training, Question 1: (a) What is ‘Trainin...

Question 1: (a) What is ‘Training'? (b) Show the main objectives of ‘Training'. (c) Explain clearly the different stages in a systematic approach to Training as developed

Electronic surveillance of employees, 1. Explain where an employee can reas...

1. Explain where an employee can reasonably expect to have privacy in the workplace. Employees can reasonably expect to have privacy in the workplace as it pertains to issues su

Factors of organisational efficiency affected in morale, How are the factor...

How are the factors of organisational efficiency affected in Morale? Organisational efficiency: a. The way the organization is establish, the method the orders are specif

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