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

Evaluate the pros and cons of the various modes, Question: Imagine you ...

Question: Imagine you are a local entrepreneur that has developed a revolutionary new personal computer that can perform the same functions as IBM, Apple and Acer computers an

Define the terms globalization and informatisation, QUESTION 1 (a) Defi...

QUESTION 1 (a) Define the terms globalization and informatisation. (b) Critically discuss how is globalization and informatisation impacting upon intercultural communication

Supervion and Leadership, Ask quesSupervision and Leadership OBJECTIVE Pre...

Ask quesSupervision and Leadership OBJECTIVE Prepare thoughtful responses to essay questions about your results from the Leadership Behavior Questionnaire in your textbook. PURP

Staff training and production of documentation, QUESTION 1 (a) Rational...

QUESTION 1 (a) Rationalising procedures and redesigning business processes are limited to specific parts of a business. New information systems can ultimately affect the design

Elements of just in time manugacturing, Components/Elements of JIT JIT m...

Components/Elements of JIT JIT manufacturing consists of several components or elements which must be integrated together to function in harmony for its successful implementatio

Ethics & business, First, think about your own upbringing and values when f...

First, think about your own upbringing and values when faced with an ethical decision, whether it is in a business environment or not. How are your beliefs the same as or differe

Manage finance, strategic oppurtunity for new product

strategic oppurtunity for new product

Disposal of rejected product, The product which is rejected in final ins...

The product which is rejected in final inspection represents a direct loss to the manufacturer. Therefore most companies have a system of review of the rejected product. This

Auto business question, An automobile manufacturer observes the demand for ...

An automobile manufacturer observes the demand for its brand increasing as per capita income increases. Sales increases also follow low interest rates, which ease credit conditions

Service quality model, One of the best models on service quality has bee...

One of the best models on service quality has been presented by three persons viz. Valerie A. Zeithaml A. Parasuraman and Leonard L . Beery. The gaps that are shown in

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