Description
ASSIGNMENT
Course Code : MMPL-002
Course Title: Inventory and Stores Management
Assignment Code :MMPL-002/TMA/JUL/2026/JAN/2027
All Blocks Note: Attempt all the questions and submit this assignment to the coordinator of your study centre. Last date of submission for July 2026 session is 31st October, 2026 and January 2027 session is 30th April, 2027.
1. (a) Compare and contrast ABC Analysis (Value-based) and VED Analysis (Criticality-based). How can a store manager integrate these two distinct approaches into an ABC-VED Matrix for optimal resource allocation?
(b) Differentiate clearly between Buffer Stock (Safety Stock) and the Reorder Level (ROL). Discuss how supply lead time variations affect the determination of the reorder point.
2. (a)”A poorly managed storehouse acts as a leaky bucket for corporate capital.” Comment on this statement by outlining the essential operational functions of stores management from receipt to issue. (b) Explain how implementing systematic store processes ensures transparent records, physical loss prevention, and absolute audit readiness..
3. (a) Distinguish between Material Requirements Planning (MRP-I) and Manufacturing Resource Planning (MRP-II) systems. How do these systems collectively enhance inventory accuracy and production alignment in a volatile market?
(b) Explain the role of the Bill of Materials (BOM) and the Master Production Schedule (MPS) as primary inputs to an MRP system.
4. (a) State the core objective of the Economic Order Quantity (EOQ) model. Mathematically derive the basic EOQ formula, clearly stating all underlying assumptions.
(b) An engineering firm has an annual demand of 12,000 units for a component. The ordering cost is Rs 600 per order, and the carrying cost is 20% of the unit purchase price of Rs 100 per year. Calculate the Economic Order Quantity (EOQ) and the total minimum variable inventory cost.
5. (a)”Inventory is often viewed as a graveyard of modern businesses, yet its absence can completely paralyze supply chain operations.” Critically evaluate this statement by discussing the strategic functions and types of inventory in modern supply chains.
(b) Analyze how strategic inventory control strikes a balance between cost efficiency, customer satisfaction, and operational continuity
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