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

Compare e-business to e-commerce, QUESTION (a) Define e-commerce from a...

QUESTION (a) Define e-commerce from a communication and a commercial perspectives. (b) Compare e-business to e-commerce. (c) Distinguish between Brick-and-mortar and Clic

Financial management, .discuss the applicability of an operating cycle to p...

.discuss the applicability of an operating cycle to poultry business in uganda

What are the objectives of work study for any management, What are the obje...

What are the objectives of work study for any management? The objectives of work study for any management are as follows: 1. Enhanced working processes as well as standard p

BUSINESS LAW, NAME FOUR CATEGORIES OF ASCERTAINED GOODS

NAME FOUR CATEGORIES OF ASCERTAINED GOODS

Portfolio analysis, explain portfolio analysis in marketing with practical ...

explain portfolio analysis in marketing with practical life examples

european union , a)  Talk about the significance of international trade to...

a)  Talk about the significance of international trade to UK business organisations b)  Examine the impact of global factors on UK business organisations c)  Detail the impac

What do you understand by “line balancing”? What happens if , What do you u...

What do you understand by “line balancing”? What happens if balance doesn’t exist?

Innovation and entreprenuership, Discuss De-cruitment in the context of the...

Discuss De-cruitment in the context of the Break-Even model

What are the features of an emarket place, Question 1: (a) What are th...

Question 1: (a) What are the features of an eMarket Place? (b) What is a digital signature and how does it provide for confidentiality in an eProcurement System? (c)

Distinguish between leadership and management, Question 1: (a) Define "...

Question 1: (a) Define "Leadership". (b) B. Distinguish between leadership and management. (c) Describe Fiedler's Contingency Theory of Leadership. Discuss the Trait & Be

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