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 theory ''x'' in human relations, Explain about the Theory...

Explain about the Theory ‘X’ in human relations. Theory ‘X': It is essentially a negative approach to human relations wherein a supervisor presumes exact the assumptions

What organization chart would you propose to management, Question: The ...

Question: The Twin Peaks Hotel is a mountain lodge with 200 rooms, 3 restaurants, 4 bars, and a 24 hour room service. The hotel has an urgent need to review its Beverage and Fo

Business commuication, What six stages should you go through in preparing a...

What six stages should you go through in preparing an effective outline for a presentation?

What are the functions of the employment relations tribunal, Question 1: ...

Question 1: (A) What do you understand by Collective Bargaining? (B) What is collective bargaining from: (I) The economic point of view

Function of maintenance, The important functions of maintenance can be ...

The important functions of maintenance can be stated as follows: 1. To develop maintenance policies procedures and standards for the organization. 2. To schedule planne

Personnel Management Case Study, Personnel Management Case Study "Adobe Co...

Personnel Management Case Study "Adobe Consulting Services (ACS), a provider of HR software application systems, prides itself on the variety of benefits it offers employees. In a

Humanistic aspects of tq, The human element is the most important input i...

The human element is the most important input in any industrial enterprise and it is the one which is most difficult to control. Quality Management is essentially a control

Adequate storage facilities, Adequate and well organized warehouse facil...

Adequate and well organized warehouse facilities with went equipped proper handling facilities must be there. It need not necessarily be elaborate and expensive. Such

Analyze the major determinants of cost efficiency, Question 1 Price or ...

Question 1 Price or market competitiveness of a product or business depends on its cost competitiveness. Cost competitiveness implies two things-cost efficiency and cost effect

What is customer centric marketing, Problem: (a) What is customer centr...

Problem: (a) What is customer centric marketing? (b) You have been hired as a consultant by an online retailer to design a customer centric marketing campaign in order to he

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