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

Arguments for a country wishing to restrict free trade, Briefly explain the...

Briefly explain the main arguments for a country wishing to restrict free trade. Protection There may be a require to protect fledgling industries which would not be able

Discuss the steps of the writing process, Question 1: (a) Explain the ...

Question 1: (a) Explain the Communication Process Model and elaborate sequentially through the use of this model the various stages that can ensure effective business communic

Managing Customer Relationships, Hello, Please I need help asap. I have $40...

Hello, Please I need help asap. I have $40 for 4 pages assignment. it is just to answer 4 questions and it is due tomorrow midnight. Please let me know asap. Tianna Thank you

External and internal business environments, Research the external and inte...

Research the external and internal business environments for the business you have chosen.  You should use your text book or another reputable Management text book to identify the

Organizational culture, Organizational Culture The concept of organiza...

Organizational Culture The concept of organizational culture is fairly recent. It became a topic of significant concern in the United States during the early 1980s, primarily

Describe and explain the transformational leadership model, Question 1: ...

Question 1: (a) Give a brief description of the fight-or-flight response. (b) Outline the difference between stress and stressors. (c) What are the major sources of stres

Future wage rate, A human resources department must know if the wage rate i...

A human resources department must know if the wage rate is stable, will increase or decrease. If equilibrium exists, wages are stable, if excess demand exists; wages will increase

Stages in organizational development, Organizational development is a proce...

Organizational development is a process a workplace a group of people and their growth and development. Not only one's growth will matter but both the organization as well as the p

Monthly maintenance programme, Daily maintenance for every facility is n...

Daily maintenance for every facility is not advisable as it would be quite expensive and time consuming. Hence according to the requirements and importance of the machi

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