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

Controls on the production systems, Controls on the production systems: ...

Controls on the production systems: 1. No inventory is moved unless authorized to be so by a move card. 2. Each bin contains a fixed exact quantity of inventory no mor

Meaning of hyper-competitive strategies, Explain Which of the following exp...

Explain Which of the following explanations best defines the meaning of hyper-competitive strategies? Ans) ? A) Hyper-competitive methods are about how to compete in fast changi

Briefly explain the main categories of e-commerce, QUESTION 1 (i) ‘Netw...

QUESTION 1 (i) ‘Networking technologies have drastically changed the way organisations operate'. Distinguish between a Wide Area Network (WAN) and a Local Area Network (LAN) an

Different types of change that an organization may face, QUESTION (a) O...

QUESTION (a) Organisations are systems that exist in the context of an external environment, an interdependent relationship, interact with it in order to survive and grow. Any

Importance of the concept of perception for managers, Question 1: (a) D...

Question 1: (a) Describe how the attribution theory helps to understand an individual perception of other individual's behaviour. (b) Describe the importance of the concept

Distinguish between oracy and literacy, QUESTION 1 In deciding on means...

QUESTION 1 In deciding on means of communication, there are several factors to be considered. What are they and how important and determinant are they in producing the expected

Electronic surveillance of employees, 1. Explain where an employee can reas...

1. Explain where an employee can reasonably expect to have privacy in the workplace. Employees can reasonably expect to have privacy in the workplace as it pertains to issues su

Measuring kanban, Measuring Kanban  Two commonly cited methods of measu...

Measuring Kanban  Two commonly cited methods of measuring the performance of a manufacturing process are flow through time and work in progress inventory levels. Flow throug

Professional Ethics, Answer all the following questions: 1. “Although the...

Answer all the following questions: 1. “Although there is no complete list of adequacy criteria for moral judgments, moral judgments have certain requirements that should be foll

Switchover to product oriented from process oriented layout, Switchover to ...

Switchover to Product Oriented Layout from Process Oriented Layout Advantages offered by Switchover to Product Oriented Layout from Process Oriented Layout: As bein

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