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

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

what is firm and its environment of organization and management?

Reflection, My university lecturer asked me to prepare a reflection on how ...

My university lecturer asked me to prepare a reflection on how was the class and how will the business edge subject will reflect to my life? please answer as soon as possible. abou

Staff training and production of documentation, QUESTION 1 (a) Rational...

QUESTION 1 (a) Rationalising procedures and redesigning business processes are limited to specific parts of a business. New information systems can ultimately affect the design

Define quality measures and quality costs, Take examples of some common ser...

Take examples of some common service-oriented industries. For example, consider a commercial airline company and a company in the hotel business. For both these companies: De

Workplace Stress, AsSeek out at least three individuals within your sphere ...

AsSeek out at least three individuals within your sphere of influence and ask the following: What does workplace stress feel like to you? What activities or actions do you or your

Business environment in strategic formulation, Business environment in stra...

Business environment in strategic formulation A business strategy depicts how a specific business proposes to succeed in its preferred market place versus its competitors. It

Describe briefly two online advertising methods, QUESTION (a) Describe ...

QUESTION (a) Describe briefly five main features of an effective e-Business website. (b) Explain the terms intranet and extranet, and their importance in an e-Business compa

Economic feasibility analysis, Q. Economic feasibility analysis? Feasib...

Q. Economic feasibility analysis? Feasibility Analysis: - The feasibility analysis carefully examine economic, operational, technical, scheduling, legal and strategic factors o

Adequate inventory records, An efficient inventory control necessitates ...

An efficient inventory control necessitates maintenance of proper inventory records because various inventory records contain information to meet the needs of purcha

Problem based on the business of education, Normal 0 false fa...

Normal 0 false false false EN-US X-NONE X-NONE

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