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

E commerce, explain the generic framework of ecommerce with diagram

explain the generic framework of ecommerce with diagram

BSHS 382 Version 3 Research and Statistics for the S, What are the basic pr...

What are the basic principles for humane treatment of human subjects in research?

Factors that help to prevent resistance to change, Question 1: (a) Disc...

Question 1: (a) Discuss three different levels of Management. (b) Differentiate between omnipotent and symbolic view of managers. (c) Explain the different functions of M

Illustrate steps in business reengineering, Q. Illustrate Steps in Business...

Q. Illustrate Steps in Business Reengineering? Reengineering experts have summarized five major steps for reengineering business processes. 1. Develop the business vision a

Explain about the term leadership in brief, Explain about the term leadersh...

Explain about the term leadership in brief. Leadership: It is the process of influencing a group into an exact situation at specified point of time and in an exact set of

#SWOT, Rate, from best to worst, each of the sources you indicate in Questi...

Rate, from best to worst, each of the sources you indicate in Question 1 above as being sources you will use in your analysis in terms of its probable reliability. Discuss the ste

Demonstrate your business research skills, This semester-long project provi...

This semester-long project provides an opportunity to demonstrate your business research skills, your financial acumen, and your understanding of how different business models, str

Firm and its environment, what is firm and its environment of organization ...

what is firm and its environment of organization and management?

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