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 behavioural barriers to intercultural communication, QUESTION ...

QUESTION "Cultural differences affect intercultural encounters, usually by leading to misunderstanding or conflict, at both the individual and the group level" (a) Explai

Explain about the participation in management of workers, Explain about the...

Explain about the participation in management of workers. Workers’ Participation in Management: Worker’s participation into management can be in any of shape, through est

Describe the decisional roles as proposed by mintzberg, Question: (a) H...

Question: (a) Henry Mintzberg has put a lot of emphasis on decision making as a very aspect of the managers' job. In this context, Describe the decisional roles as proposed by

Functional and process management, How will officers achieve intergration w...

How will officers achieve intergration when they have no authority over either the administrative functions or programs

What is business process re-engineering (bpr), QUESTION (a) What is Bus...

QUESTION (a) What is Business Process Re-engineering (BPR)? (b) List down any four factors that contribute to the difficulties in implementing BPR (c) Explain the differe

International Businness, VK Ltd a multi product company, furnishes you the ...

VK Ltd a multi product company, furnishes you the following data relating to the year 2000. First half sales Second half sales Sales Rs.45000 Rs.50000 Total cost Rs.40000 Rs.43000

What is non-verbal communication, QUESTION 1 (a) What is non-verbal com...

QUESTION 1 (a) What is non-verbal communication? (b) Non-verbal communication is a complex process leading to misunderstanding and misinterpretation. Examine this statement

Finance, finance via internet

finance via internet

Major characteristics and policies of a company, Question 1 A well- for...

Question 1 A well- formulated strategy is vital for growth and development of any organization. Explain the corporate strategy in different types of organization. Question

Advantages of a good material handling systems, Advantages  of a Good Mater...

Advantages  of a Good Material Handling  Systems:  The followings  advantages  are availed from  an efficient material  handling  system. 1.  A good  material  handling sys

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