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

Business process modelling notation, You must create a fictituous supply ch...

You must create a fictituous supply chain (loosely based on a real world system) that has at least three companies A, B and C.  Each company will have its own ordering, invoice and

Rule of 72, what is the interest earned for a deposit of $100,000 at 2% for...

what is the interest earned for a deposit of $100,000 at 2% for 5 years

Organizational management, 1. Explain how recent changes have made the worl...

1. Explain how recent changes have made the world global marketplace different than in the past. 2. What role does faith play in the global marketplace?

Control of product during inspection, Inspection of production takes time...

Inspection of production takes time which may extend from a few hours to a number of days depending upon the nature of the product. It is necessary to exercise suitable o

Different types of business letters, What are the different types of busine...

What are the different types of business letters? Explain with example

Paetners, Write short notes on partners

Write short notes on partners

How will environmental management tools be used, Tourism development places...

Tourism development places additional pressure on the environmental resources upon which it is based, compromising the future prospects of the local population and, indeed, the ex

International business of ernst & young, International Business of Ernst & ...

International Business of Ernst & Young Ernst & Young is one of the largest global leaders in the professional service provider. As per the changing demand of the customers,

Explain the contents of an application form, Question 1: (a) Clearly ex...

Question 1: (a) Clearly explain the Recruitment methods used by organisations. (b) Explain the contents of an application form. Question 2: (a) What do you meant by

What are the factors affected to motivation, What are the factors affected ...

What are the factors affected to motivation? Factors affecting motivation are as follows: a. Achievement: Personal satisfaction within job completion and solving problem

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