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

Benefits of computer aided design, Explain the benefits of Computer Aided D...

Explain the benefits of Computer Aided Design (CAD) and Computer Aided Manufacturing (CAM) to an organisation Reduced material wastage By precise design and pattern making

Define what is meant by value analysis, "Only projects with a positive NPV ...

"Only projects with a positive NPV should be considered and projects with a negative NPV should be discarded". Briefly discuss this statement. Define what is meant by 'Value A

Contemporary Management, I''m kindly asking to make an assignment against "...

I''m kindly asking to make an assignment against "Contemporary Management Issues" in maximum words of 2,500 words as per the attachment. kindly try to finish them as soon as possib

Production and operations mangement, 5. The average annual investment cost ...

5. The average annual investment cost of a workstation in New Jersey has been calculated to be $100,000. It has been calculated to be $150,000 in Kentucky. The hourly cost at a wor

Describe what do you meant by job satisfaction, According to research done ...

According to research done in the field of organizational behaviour, it has been found that job satisfaction is negatively related with absenteeism and labour turnover. Consequ

Importance of materials handling, Importance of Materials Handling It...

Importance of Materials Handling It is hard to  realized how  important are material handling in the  cost  of operation because it is  something  that is  quite  common  to

Categories of ratios for financial position and performance, What are categ...

What are categories of ratios for financial position and performance? Usually, there are four main categories of ratios every attempting to measure the financial position and p

Limitations of jit manufacturing, Limitations of JIT JIT manufacturing...

Limitations of JIT JIT manufacturing  requires  considerable  co operation between the management  and workers, it  is commonly believed that JIT production system is very eff

Organisational behaviour, define organisational behaviour and explain how ...

define organisational behaviour and explain how organisational and the managers job are related?

Explain how the people and payroll system could benefit ld2, The LD2 group ...

The LD2 group has grown rapidly over the past five years by acquiring a number of smaller kitchen accessory manufacturers and kitchen suppliers and fitters. As a consequence of thi

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