Silo Manufacturing Corporation (SMC) Managing with Economic Order Quantity

2018 ◽  
pp. 1-8
Author(s):  
Ted Farris
Keyword(s):  
Performance Measures ◽  
The Other ◽  
Unit Price ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Just In Time ◽  
Order Quantity ◽  
Strategic Goals ◽  
Order Quantities

This two-part case illustrates the use of economic order quantity to manage conflicting performance measures across different siloed functions in an organization. Part A requires students to assess the costs of various order quantities and quantify the concept of “robustness.“ Part B emphasizes managing the variables of annual demand, ordering cost, inventory carrying cost, and unit price to achieve strategic goals. The student must determine how to lower ordering costs to compensate for increases in the other variables as well as to help guide Just-In-Time implementation efforts.

Unit-Wise Ranking of Inventory Control Techniques Used in Small Scale Cement Enterprises: A Small Scale Entrepreneurial Perspective

2015 ◽  
Vol 3 (2) ◽  
Author(s):  
Vipul Chalotra
Keyword(s):  
Inventory Control ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Small Scale ◽  
Just In Time ◽  
Order Quantity ◽  
Control Techniques ◽  
Material Requirement Planning ◽  
Material Requirement ◽  
Almost All

The present research divulges the different inventory control techniques used small scale cements enterprises operated by small scale entrepreneurs through the assistance of primary data collected from eight small scale cement enterprises operating in SIDCO & SICOP, under DIC (District Industries Center) in District Udhampur of Jammu & Kashmir State. The various inventory control techniques identified and quested for in the research were: Always Better Control (ABC), Economic Order Quantity (EOQ), Material Requirement Planning (MRP), and Just-in-Time (JIT). The results of the ranking table quoted that Economic Order Quantity (EOQ) was awarded first rank by almost all the units representing overall mean score of 1.71, Always Better Control (ABC) was denoted by rank two repressing overall mean value as 2.00, Material Requirement Planning (MRP) was quoted rank three as depicted by its mean ranking (2.25), and Just-in-time (JIT) was accorded rank four (3.71) by almost all the small scale cements entrepreneurs/owners.

scholarly journals ANALISA PERENCANAAN PENGENDALIAN PERSEDIAAN BAHAN BAKU DENGAN METODE GABUNGAN ECONOMIC ORDER QUANTITY (EOQ) DAN JUST IN TIME (JIT) DI UD. SUPER MEKAR GRESIK

2019 ◽  
Vol 13 (1) ◽  
pp. 74-85
Author(s):  
Rusindiyanto Rusindiyanto ◽  
Yustina Ngatilah
Keyword(s):  
Economic Order Quantity ◽  
Economic Order ◽  
Just In Time ◽  
Order Quantity

Penelitian ini dilakukan bertujuan untuk melakukan perencanaan pengendalian persediaan bahan baku yang optimal sehingga meminimasi total biaya persediaan bahan baku  kerupuk bawang. Dalam penelitian ini terdapat dua variabel yaitu Variabel terikat adalah total biaya persediaan bahan baku kerupuk bawang, Variabel bebas antara lain Data pembelian bahan baku, Data pemakaian bahan baku,  Data frekuensi pemesanan bahan baku, Data harga biaya bahan baku, Data sisa persediaan bahan baku, Data biaya penyimpanan bahan baku dan Data biaya pemesanan bahan baku. Metode pengolahan data menggunakan metode usulan yaitu metode gabungan Economic Order Quantity (EOQ) dan Just In Time (JIT). adalah Membandingkan data dari dua kondisi dimana kondisi perusahaan dari segi kuantitas bahan baku dan total biaya persediaannya dengan metode usulan yaitu metode gabungan EOQ dan JIT. Hasil penelitian menggunakan metode gabungan EOQ dan JIT menghasilkan total biaya persediaan bahan baku sebesar Rp 7.045.974.029 memberikan minimasi total biaya persediaan sebesar Rp 142.540.866. Penghematan efisiensi biaya yang dihasilkan sebesar 18%.

scholarly journals Kajian Metode Eoq (Economic Order Quantity) Pada Model Persediaan Deterministik Dengan Perubahan Harga Dalam Pengendalian Persediaan

2018 ◽  
Vol 1 (1) ◽  
pp. 024-031
Author(s):  
Tri Hardianti ◽  
Faigiziduhu Bu‘ulolo ◽  
Esther Nababan
Keyword(s):  
Cost Savings ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Sale Price ◽  
Inventory Costs ◽  
Total Inventory ◽  
Order Quantities ◽  
And Storage ◽  
Special Order

Persediaan merupakan salah satu unsur yang paling aktif dalam operasi perusahaan yang secara terus- menerus diperoleh, diubah yang kemudian dijual kembali. Metode Economic Order Quantity (EOQ) merupakan metode yang digunakan untuk menemukan jumlah pesanan yang ekonomis, yaitujumlah pesanan yang memenuhi total biaya persediaan minimal dengan mempertimbangkan biaya pemesanan dan penyimpanan. Persediaan deterministik merupakan metode yang digunakan untuk meminimalkan total biaya pembelian dan penyimpanan. Dalam penelitian ini metode EOQ dikaji ke dalam bentuk model persediaan deterministik dengan perubahan harga. Metode yang digunakan adalah metode EOQ. Metode EOQ kemudian digunakan pada model persediaan deterministik dengan perubahan harga.  Model tersebut diaplikasikan pada sebuah contoh kasus dengan model special sale price yang memperoleh penghematan biaya sebesar 40.000 dan special order cost saving sebesar 133.559.888,5 dengan frekuensi pemesanan 18,5 per tahun. Model tersebut dapat digunakan pada perusahaan untuk meminimalkan biaya penyimpanan dan pembelian. Pada saat-saat tertentu perusahaan memperoleh keuntungan lebih besar dengan biaya pembelian dan penyimpanan yang lebih kecil Inventory is one of the most active elements in the operations of a company that is continuously acquired, changed, and then resold. The Economic Order Quantity (EOQ) method is a method used to find economical order quantities, which is the number of orders that meet the minimum total inventory costs by considering the cost of ordering and storage. Deterministic inventory is a method used to minimize the total cost of purchase and storage. In this study, the EOQ method was examined in the form of a deterministic inventory model with price changes. The model was applied to a case sample with a special sale price model that obtained a cost savings of 40,000 and a special order saving cost of 133,559,888.5 with an order frequency of 18.5 per year. The model could be used in companies to minimize storage and purchase costs. At certain times the company achieved a bigger profit with a smaller purchase and storage cost. 

scholarly journals Comparative Inventory Control Analysis With Economic Order Quantity (Eoq) And Just In Time Method To Minimize Inventory Costs At UD.Melati Jaya

2021 ◽  
Vol 5 (1) ◽  
pp. 1-7
Author(s):  
KHAIRUNNISA ALMADANY
Keyword(s):  
Inventory Control ◽  
Control Method ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Just In Time ◽  
Control Analysis ◽  
Order Quantity ◽  
Total Cost ◽  
Inventory Costs ◽  
The Cost

The research discusses how To Compare Inventory Control Analysis With Economic Order Quantity (EOQ) Method and Just In Time (JIT) Method To Minimize Inventory Costs At UD. Melati Jaya. This study discusses a comparative analysis of the Economic Order Quantity method and the Just In Time method to minimize inventory costs at UD. Jasmine jaya. The data analysis method used is descriptive qualitative method with comparative research that compares the Econimic Order Quantity (EOQ) method with the Just In Time (JIT) method to the cost efficiency at UD. Melati Jaya. The analysis results from the comparative calculation of inventory control show that the Just In Time Inventory Control method is more appropriate to be applied to Ud. Melati Jaya because the total cost of the inventory is smaller than the total cost of the inventory when using the Economic Order Quantity (EOQ) method.

scholarly journals Methods of Comparison of the Economic Order Quantity and Just-In-Time Restocking Technologies. The Case Study

2022 ◽  
Vol 24 (2) ◽  
pp. A35-A43
Author(s):  
Andrii Galkin ◽  
Velerii Levada ◽  
Volodymyr Kyselov ◽  
Oksana Hulchak ◽  
Dmytro Prunenko ◽  
...  
Keyword(s):  
Analytical Models ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Just In Time ◽  
Optimal Size ◽  
Order Quantity ◽  
Time Model ◽  
Urban Freight ◽  
The Given

Estimation of the optimal size of order is one of the key tasks in determining the parameters of the urban freight restocking system. The existing analytical models and methods are considering each technology separately and they do not compare the Economic Order Quantity (EOQ) and Justin-tme (JIT) restocking technologies. The purpose of this research was to evaluate efficiency of the JIT and EOQ restocking technologies. The research would help in selecting the delivery model, analyzing functioning of existing JIT and EOQ models. The article presents an approach to determining the comparison in organizing supplies to the retailer. For this, the two supply models were compared. The Just-in-Time model is characterised by costs that are spend on transportation. The Economic Order Quantity model includes costs of transportation and storage in a warehouse. After calculations, application of the Just-in-Time model in the given conditions was determined.

scholarly journals Analisis Perbandingan Metode Just In Time dan Economic Order Quantity

2010 ◽  
Vol 10 (1) ◽  
pp. 7
Author(s):  
Adi Santoso
Keyword(s):  
Inventory Control ◽  
Business Strategy ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Just In Time ◽  
Order Quantity ◽  
Inventory Cost ◽  
Material Supply ◽  
Total Inventory

UD Surabaya Rattan Industry as the middle scale of company is produced rattan chairs. This company is based on the job order to plan and develop the future company to its business strategy become mass production. In process production, the company always faces problems in the row material supply. If the row material supply is saved in long time period and there is bulking in storage it can make the rattans will be under level quality. The purpose of this research is giving information about the choosing methods of planning, controlling the row material supply with differ between Just in Time (JIT) method with Economic Order Quantity (EOQ) to minimize inventory value. The result of from chosen method for the planning of inventory control of raw material. Total Inventory Cost (TIC) which in it there are three element of it expense of that is expense of purchasing, expense of ordering, and also stock holding cost got TIC for the Method of Just in Time (JIT) period 13 to Rp233.129.629,71. While for the Method of Economic Order of Quantity (EOQ) at period 13 to Rp234,171,969.21. Calculation of Total Inventory Cost (TIC) as a whole ( period of time 1 year) by applying Method of Just In Time ( JIT) it can be seen Totalize Inventory Cost (TIC) Rp5,012,483,943.59 while by applying Economic Order of Quantity (EOQ) from Total of Inventory Cost (TIC) Rp518,088,399.86. Becoming method planning of inventory control the selected method of Just In Time (JIT) with thrift equal to Rp5,604,456.27.

scholarly journals MODEL ECONOMIC ORDER QUANTITY (EOQ) DAN MODEL OPTIMISASI ROBUST DALAM PENENTUAN PERSEDIAAN ALAT SUNTIK (SPUIT)

2019 ◽  
Vol 8 (3) ◽  
pp. 164
Author(s):  
PUTRI BELLA SAGITA ◽  
NI KETUT TARI TASTRAWATI ◽  
KARTIKA SARI
Keyword(s):  
Robust Optimization ◽  
Optimization Model ◽  
Inventory Model ◽  
Buffer Stock ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Minimum Order ◽  
Eoq Model ◽  
Order Quantities

The purpose of this research is to determine and analyze the minimum order quantities and the supply cost through Economic Order Quantity (EOQ) Model without Stock Out, EOQ Model with Buffer Stock, and Robust Optimization. EOQ model without Stock Out is an inventory model with a fixed number of requests and a fixed period of demand so the goods are considered always available or there is no stock out. Whereas EOQ Model with Buffer Stock is an inventory model with uncertainty demand during the lead time that described with a uniform density function. Another model is Robust Optimization Model that is used for cases with uncertainty demand. The results showed that the minimum order quantities through EOQ Model without Stock Out and EOQ Model with Buffer Stock was almost the same value but the cost was more minimum with the EOQ Model with Buffer Stock. Whereas, through the Robust Optimization Model there are different minimum order quantities for each period with a minimum supply cost compared to the two previous models. This occurs in both types of Spuit, namely Spuit Terumo 3 mL and Spuit Terumo 5 mL.

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