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

Characteristics of business process reengineering, The major characteristic...

The major characteristics are: 1. Several jobs are combine into  one. 2. Employees make decisions ( empowerment of  employees.) decision making  becomes  part of  the job.

Corprate Culture, Why are symbols important to a corporate culture?

Why are symbols important to a corporate culture?

Successful implementation of each of the information systems, QUESTION ...

QUESTION The Sengapa Garments Ltd (SG Ltd) is a company engaged in the manufacture of T-Shirt and allied textile products for the local market and for exports. SG Ltd is still

Business ethics, what is utilitarianism and what are its benefit in busines...

what is utilitarianism and what are its benefit in business

Office administration, how to draw a stock control card and discuss the com...

how to draw a stock control card and discuss the completion process .

Business Capstone Course, Management Research Paper Week 3: Locate Sources...

Management Research Paper Week 3: Locate Sources, Prepare an Outline and Identify a Successful Corporation and/or Individuals Part I. Sources Deliverable: Conduct a search of the

Cycle inventories, Cycle inventories are held for the reason that purcha...

Cycle inventories are held for the reason that purchases are usually made in lots rather than the exact amount which may be needed at a point of time. Of course if all p

MARKETING PRINCIPLES, THE CONCEPT OF SEGMENTATION IN APPLE'' COMPANY IN ORD...

THE CONCEPT OF SEGMENTATION IN APPLE'' COMPANY IN ORDER PLEASE

What are the responsibilities of cber, Question 1 List at least 6 post dru...

Question 1 List at least 6 post drug approval activities of FDA. Write brief on a) Medwatch b) AERS c) Pharmaceutical Industry surveillance Question 2 Write a note on the

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