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 the communication flow in organizations, QUESTION 1 (a) Descri...

QUESTION 1 (a) Describe the Five basic propositions which form the premise of Neher‘s views on organizational communication. (b) Describe the communication flow in organizat

Explain bpel and workflow foundation? , ? BPEL is process-centric, where...

? BPEL is process-centric, where as workflow foundation is human centric. ? BPEL web services based language for business process behavior which can be used for composite web se

What are principal payment systems for electronic commerce, Question: (...

Question: (a) Distinguish between a Management Information System and a Decision Support System. (b) Distinguish between different eBusiness Models. (c) Discuss on four

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

Application of the four major business functions essential, Application of ...

Application of the four major business functions essential. For example: Human Resources: The recruitment and on-going training of non-teaching (support)  and teaching st

Contributing factors for aspect of individual behaviour, What are the contr...

What are the contributing factors for specified aspect of individual behaviour? For any specified aspect of individual behaviour, here may be several contributing factors. The

Business Communication, Explain some of the approaches for handling custome...

Explain some of the approaches for handling customer complaints and listening to customers

Autocratic leadership, Autocratic leadership: The autocratic leadershi...

Autocratic leadership: The autocratic leadership styles authorize nurse manager to make verdict unaccompanied with no participation of others. Managers own entire ability and

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

USA Civil Law versus Criminal Law, What is the difference between Criminal ...

What is the difference between Criminal and Civil Law? Provide a real-world example of a dispute that would classified as civil law and one that could be classified as criminal la

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