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

Write about irda, Question 1 Explain the Risk Management Process Quest...

Question 1 Explain the Risk Management Process Question 2 Write about IRDA. Describe the functions and powers of IRDA Question 3 Write down about the purpose, objective

Starting a new business, Q. Starting a new business? Starting a new bus...

Q. Starting a new business? Starting a new business is always tough. We have generated versatile ideas on variety of this product, looked towards the feasibility of our ideas,

Business can effectively discharge its social obligations, QUESTION 1 S...

QUESTION 1 Strategic decisions are the essence of strategic management. According to Pears & Robinson, typically, strategic issues have certain dimensions. Write short notes on

Vie, QUESTION Look back on the past years and think of someone who did ...

QUESTION Look back on the past years and think of someone who did something to motivate you. Use a concrete example to illustrate your answer (a) Describe how this was done

Idea generation for new product, Ideas for new products can be obtained fro...

Ideas for new products can be obtained from customers (employing user innovation), the company's R&D department, competitors, focus groups, employees, salespeople, corporate spys,

Prodcut life cycle, What are the factors affecting length of product life c...

What are the factors affecting length of product life cycle in developing and developed countries

Explain profitability analysis models, Question 1 Intermediation is the pr...

Question 1 Intermediation is the process of linking savers of money with those who are in need of money. Explain the intermediation process of banks Question 2 Business loans

Leadership consists, Leadership consists: Leadership happens when peop...

Leadership consists: Leadership happens when people push, cajole, and influence others to work towards the achievement of a specific objective. That distinguishes leadership w

Explain about bpel orchestration and choreography?, Orchestration: The c...

Orchestration: The control over the web services that are involved and coordinating the implementation of different operations on the web services involved in the operation is t

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