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

Performance management, You just got an important request from the organiza...

You just got an important request from the organization's President to conduct an audit of the company's current appraisal system.  By far the most problematic and volatile issue a

What are the strong retention strategies, Question : "Strong retention ...

Question : "Strong retention practices may reduce turnover, but they limit the introduction of new talent, knowledge and perspectives, leading organisations to become stale an

Explain the design and implementation process, Question: a) Environmen...

Question: a) Environmental accounting is an important tool for understanding the role played by the natural environment in the economy. Briefly discuss two crucial factors on

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

Explain the individual and group managerial decisions, Explain the individu...

Explain the individual and group managerial decisions. Individual and Group decisions: Individual decisions are considered by a single individual into context of routine

What do you meant by the term job satisfaction, Question 1: (i) What do...

Question 1: (i) What do you meant by the term "Job Satisfaction" ? (ii) Discuss the importance of Job Satisfaction in an organisation. Question 2: (i) Differentiate

Porject related, what is a best topic in submit project to international bu...

what is a best topic in submit project to international business management

Methods of communication within public sector organizations, Question 1: ...

Question 1: Briefly explain TWO advantages and TWO disadvantages of each of the following methods of communication within public sector organizations: a) Full staff meeting

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