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

What are the main components of human communication, QUESTION 1 (a) Ela...

QUESTION 1 (a) Elaborate on the recent developments in communication theory as a field of research and study. (b) Elaborate on three main communication theories that mark th

Marketing distribution, what is placing decision in distribution of market...

what is placing decision in distribution of marketing

What are the differences between marketing and selling, What are the differ...

What are the differences between marketing and selling? Marketing and Selling: The marketing concept is a management orientation which holds that the key chore of the org

Enumerate five key functions of management, QUESTION (a) Enumerate five...

QUESTION (a) Enumerate five obstacles to effective time management (b) Enumerate five key functions of management (c) Explain briefly Maslow's Hierarchy of Needs (d) W

Pharmaceutical services industry, Paisano Pharmacies, a fictitious business...

Paisano Pharmacies, a fictitious business in the pharmaceutical services industry, is owned by VictorPaisano. Currently, Paisano has two pharmacieslocated in Killeen and Temple, Te

Business strategy report, Business strategy report (5,000 words) Section 1:...

Business strategy report (5,000 words) Section 1: Strategy Recommendations and Evaluation Summary (1,000 words) Section 2: Business Strategy Report (4,000 words)

Advantages and disadvantages of ib4e, Over the past few years, the company ...

Over the past few years, the company iB4e has underperformed compared with its competitors which enjoy stronger brand recognition. In addition, lots of experienced staff responsibl

Accounting system to classify business transactions, Q. Accounting system t...

Q. Accounting system to classify business transactions? Question Jerry accepts a formal, written promise from an employee of his hotel to pay a certain sum. The employee

Describe the difficulties that you may encounter, Probelm 1: Show the o...

Probelm 1: Show the official roles of the chairperson, the secretary and members before, during and after formal meetings. Probelm 2: Consider that you are the team lea

Develop a computer-based information system, Question : a) The informat...

Question : a) The information requirements of an organisation can be categorised as follows: • Information for planning; • Information for controlling; • Information f

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