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

Concepts and technique of management of purchasing functions, Concepts and ...

Concepts and Techniques of Management of Purchasing Function Introduction This assignment will encourage you to explore the major principles, concepts and techniques which

Importance of control for managers to achieve the objectives, QUESTION 1 ...

QUESTION 1 XYZ Ltd is a company that likes to encourage its employees through internal promotion. Consequently, many technical workers were promoted as first line managers in t

Potential impacts of an agricultural project, (a)(i) State the major advant...

(a)(i) State the major advantages of using matrices for conducting EIAs.   (ii) Explain how overlays are essential tools for assessing potential impacts of an agricultural proje

The process of communication, QUESTION 1 "Communication in an organiza...

QUESTION 1 "Communication in an organization is about sharing of feelings, thoughts, ideas and emotions." Discuss this statement in light of (a) The process of communicatio

The best ways to motivate employees in an organization, QUESTION Motiva...

QUESTION Motivated people are those who have made a conscious decision to devote considerable effort to achieving something that they value. What they value will differ greatly

What are behavioural barriers to intercultural communication, QUESTION ...

QUESTION "Cultural differences affect intercultural encounters, usually by leading to misunderstanding or conflict, at both the individual and the group level" (a) Explai

Explain the advantages and disadvantages of partnership, Q. Explain the adv...

Q. Explain the advantages and disadvantages of partnership? Advantages of Partnership Firm 1. Easy formation: A partnership firm can be formed without any compulsory lega

Describe ebay activities, Question: A firm's connected activities are d...

Question: A firm's connected activities are defined as those activities that the firm must perform in order to deliver its customer value. A firm's strategy is said to be sound

You are contracted to provide an assessment and reco, how much will be the ...

how much will be the cost for 3000 words deadline in 9th june

What is delegation of authority and responsibility, What is delegation of a...

What is delegation of authority and responsibility? Delegation of Authority and Responsibility: Authority means the right to command and also power to act. Respons

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