scholarly journals PENGENDALIAN PERSEDIAAN PROBABILISTIK PRODUK SUBSTITUSI DENGAN PERMINTAAN SEBAGAI FUNGSI HARGA

2021 ◽  
Vol 16 (1) ◽  
pp. 56-62
Author(s):  
Laila Nafisah ◽  
Sutrisno Sutrisno
Keyword(s):  
Sensitivity Analysis ◽  
Inventory Model ◽  
Optimal Order ◽  
Lost Sales ◽  
Business Unit ◽  
Order Quantity ◽  
Product Substitution ◽  
Inventory Models ◽  
Total Cost ◽  
Optimal Order Quantity

Kamara Living merupakan suatu unit usaha yang bergerak dalam penjualan kebutuhan sehari-hari. Salah satu produk yang populer adalah sarung bantal. Sarung bantal yang ditawarkan memiliki beberapa desain motif dan jenis yang berbeda. Permintaan akan produk sarung bantal tidak menentu antara satu desain dengan desain yang lain. Ketika desain tertentu persediaannya habis, perusahaan akan menawarkan desain lain dari jenis kain yang sama. Jika konsumen tidak bersedia maka terjadi kehilangan penjualan. Ketika persediaan berlebih, perusahaan akan memberikan harga promosi untuk mendongkrak tingkat penjualannya. Jika ini dibiarkan terus-menerus, tentu saja perusahaan akan mengalami penurunan keuntungan. Pada makalah ini dikembangkan model persediaan dengan mempertimbangkan produk substitusi dengan permintaan sebagai fungsi harga yang bertujuan untuk meminimasi total biaya persediaan. Penyelesaian model yang dilakukan mampu menghasilkan solusi kuantitas pemesanan dan titik pemesanan yang optimal. Validasi model dilakukan dengan membandingkan hasil dari model yang dikembangkan terhadap kondisi riil. Selain itu juga dilakukan analisis sensitivitas terhadap parameter-parameter yang berpengaruh. Abstract[Product-substitution Inventory Model with Demand depend on Price] Kamara Living is a business unit engaged in selling daily stuff. One popular product is pillowcases. The pillow cover offered has several different motif designs and types. The demand for pillowcases is uncertain between one design and another. When a stockout occurs for a particular design, the company will offer another design of the same type of fabric. If consumers are not willing, there will be lost sales. When there is overstock, the company will provide promotional prices to increase sales levels. If this is allowed to continue, of course the company will experience a decline in profits. In this paper, an inventory model is developed by considering substitute products with demand as a price function that aims to minimize the total cost of inventory. Completion of the model carried out is able to produce optimal order quantity and order point solutions. Model validation is done by comparing the results of the models developed against real conditions. In addition, a sensitivity analysis was carried out on the influential parameters.Keywords: Inventory Models; Product Substitution; Demand Depend on Price

Some Alternative Methods of Finding the Optimal Order Quantity in Inventory Models

2005 ◽  
Vol 57 (1-2) ◽  
pp. 121-128
Author(s):  
Ayan Chandra ◽  
S. P. Mukherjee
Keyword(s):  
Alternative Methods ◽  
Exceedance Probability ◽  
Optimal Order ◽  
Order Quantity ◽  
Inventory Problem ◽  
Inventory Models ◽  
Demand And Supply ◽  
Total Cost ◽  
Optimum Order ◽  
Optimal Order Quantity

We consider a purchase inventory problem where both demand and supply have been taken to be random. Several possible ways of deriving the optimum order quantity based on the distribution of total cost have been proposed. Expressions for the optimum order quantity that minimizes the mode or exceedance probability of this distribution have been worked out for some particular demand and supply distributions.

An Optimal Inventory Policy for Items Having Constant Demand and Constant Deterioration Rate with Trade Credit

2012 ◽  
Vol 5 (2) ◽  
pp. 89-95 ◽  
Author(s):  
R. P. Tripathi ◽  
S. S. Misra
Keyword(s):  
Trade Credit ◽  
Optimal Order ◽  
Order Quantity ◽  
Inventory Models ◽  
Inventory Policy ◽  
Deterioration Rate ◽  
Optimal Order Quantity ◽  
Optimal Ordering ◽  
Constant Deterioration ◽  
Ordering Quantity

In most of the classical inventory models the demand is considered as constant. In this paper the model has been framed to study the items whose demand and deterioration both are constant. The authors developed a model to determine an optimal order quantity by using calculus technique of maxima and minima. Thus, it helps a retailer to decide its optimal ordering quantity under the constraints of constant deterioration rate and constant pattern of demand.

Utilizing Simulation to Build a Retail Store Inventory Optimization Model

2013 ◽  
Vol 5 (1) ◽  
Author(s):  
VICENTE SALVADOR E. MONTAÑO ◽  
MICHAEL E. CARTER II
Keyword(s):  
Simulation Model ◽  
Goodness Of Fit ◽  
Inventory Model ◽  
T Test ◽  
Optimal Order ◽  
Order Quantity ◽  
Goodness Of Fit Test ◽  
Reorder Point ◽  
Kolmogorov Smirnov ◽  
Optimal Order Quantity

The researchers build an inventory model for retail stores by validating their economicorder quantity through data driven simulation. This paper created an inventoryoptimization model for a personal care retailing business, to avoid stock out and minimize their holding cost and ordering cost. Simulating a thousand different scenarios, the research come up with an optimal inventory model for the two most sellable products in the store. The t-test reveals that product A has a significantly higher demand than product B. The simulation model validates the optimal order quantity of 59 units, with a reorder point of 25 units for product A. However, the simulation model recommends an optimal order quantity of 37 units and a reorder point of 10 units for product B. The Kolmogorov-Smirnov Goodness of Fit Test reveals the normal distribution of the 30 days inventory for Product A but not for Product B. Confirming that stocks out will unlikely happen for product A but will probably occur for product B. The model confirms EOQ findings of product with relatively high demand but low price but a departure for products with low demand but the high price.Keywords: Operations management, retail inventory system, t-test, Monte Carlo Simulation,Kolmogorov-Smirnov Goodness of Fit Test, Davao City, Philippines, Southeast Asia

scholarly journals ANALISIS PEMILIHAN SUPPLIER UNTUK PEMESANAN BAHAN BAKU YANG OPTIMAL MENGGUNAKAN METODE AHP DAN FUZZY AHP: STUDI KASUS DI PT XYZ

2013 ◽  
Vol 3 (3) ◽  
Author(s):  
Nunung Nurhasanah ◽  
Muhamad Aqil Tamam
Keyword(s):  
Wheat Flour ◽  
Fuzzy Ahp ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Optimal Order ◽  
Order Quantity ◽  
Total Cost ◽  
Optimal Order Quantity ◽  
Industry Needs ◽  
Hierarchy Process

<p>The availability of wheat flour as raw material is a crusial planning, especially for<br />PT. XYZ. That is why, this availability needs to be maintained, thus whenever industry needs<br />to produce noodle, wheat flour always available as stock.PT. XYZ has several suppliers to<br />supply wheat flour in present.But, in order to fulfill the supplies, PT. XYZ used to get their<br />lost because of the rejected and lateness of wheat flour as raw materials.In other way, this<br />company has not yet had a standard method to choose the best supplier.<br />This research has studied by using two methods in order to choose the best suppleirs.<br />These are Analitical Hierarchy Process (AHP) and Fuzzy AHP. This research has also<br />studied to fulfill the optimal raw material order. In order to get the optimal order quantity,<br />this research suggested Economic Order Quantity (EOQ) modeling.<br />This research has shown that there are no significant deferences between AHP and<br />Fuzzy AHP. Based on this research, PT. XYZ may use either AHP or Fuzzy AHP to choose<br />the best supplier. Based on EOQ, the optimal order quantity is 103.730kg, and company<br />should order every 23 days, meaning there is 16 times order to supplier. The reorder<br />point is 22.230kg, and the total cost is Rp.9.923.475.086.</p>

A New Fuzzy Backorder Inventory Model for the Decision Making of Material Inventory in the Manufacture System

2010 ◽  
Vol 431-432 ◽  
pp. 106-109 ◽  
Author(s):  
Chien Chang Chou
Keyword(s):  
Inventory Management ◽  
Fuzzy Number ◽  
Inventory Model ◽  
Optimal Order ◽  
Fuzzy Approach ◽  
Order Quantity ◽  
Square Roots ◽  
Manufacture System ◽  
The Past ◽  
Optimal Order Quantity

Inventory management is one of important issues in the manufacture system. Thus, this paper proposes a new fuzzy approach to solve the inventory management problems in the manufacture system. In the past, few papers discussed the square roots of fuzzy number. The square roots of fuzzy number can be applied to solve the optimal inventory quantity problems in the fuzzy manufacture system. This paper first proposed the square roots of fuzzy number. Finally, the square roots of fuzzy number are applied to obtain the optimal order quantity for the fuzzy backorder inventory model in the manufacture system.

scholarly journals The Convergence of Gallego’s Iterative Method for Distribution-Free Inventory Models

Mathematics ◽  
2019 ◽  
Vol 7 (5) ◽  
pp. 484 ◽  
Author(s):  
Ting-Chen Hu ◽  
Kuo-Chen Hung ◽  
Kuo-Lung Yang
Keyword(s):  
Iterative Method ◽  
Optimal Solution ◽  
Threshold Value ◽  
Optimal Order ◽  
Order Quantity ◽  
Inventory Models ◽  
Worst Case ◽  
Distribution Free ◽  
Second Moments ◽  
Optimal Order Quantity

For inventory models with unknown distribution demand, during shortages, researchers used the first and the second moments to derive an upper bound for the worst case, that is the min-max distribution-free procedure for inventory models. They applied an iterative method to generate a sequence to obtain the optimal order quantity. A researcher developed a three-sequence proof for the convergence of the order quantity sequence. We directly provide proof for the original order quantity sequence. Under our proof, we can construct an increasing sequence and a decreasing sequence that both converge to the optimal order quantity such that we can obtain the optimal solution within the predesigned threshold value.

scholarly journals Analysis of Inventory Control by Using Economic Order Quantity Model – A Case Study in PT Semen Padang

2019 ◽  
Vol 18 (2) ◽  
pp. 116
Author(s):  
Prima Fithri ◽  
Alizar Hasan ◽  
Fadhita Maisa Asri
Keyword(s):  
Production Process ◽  
Inventory Control ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Optimal Order ◽  
Order Quantity ◽  
Cement Production ◽  
Total Cost ◽  
Optimal Order Quantity

Inventory control is a very important issue. It is because the amount of inventory will determine or affect the smoothness of the production process as well as the effectiveness and efficiency of the company. PT Semen Padang is a manufacturing company that produces 10,400,000 tons of cement per year. The achievement of the cement production target at this company depends on the availability of raw materials needed in the cement production process itself. Gypsum is an additional material of the cement production process which is very important because it is a raw material that must exist in the process of making cement. So, if the inventory of gypsum cannot meet the needs of production, then the production process of cement making will be disrupted. PT Semen Padang is using the Min-Max method for inventory control. But the costs are quite high. The cost of inventory can be minimized by using another method such as EOQ (Economic Order Quantity). The conclusions of this research are in 2016 by using EOQ method, the optimal order quantity is 32,073 ton per order, and the frequency is 9 times in a year with total cost Rp. 4,757,673,813.48, and in 2017, the optimal order quantity is 34,856 tons per order and the frequency is 9 times in a year with total cost Rp. 9,694,805,608.36.

scholarly journals Risk Management for the Optimal Order Quantity by Risk-Averse Suppliers of Food Raw Materials

2018 ◽  
Vol 6 (4) ◽  
pp. 96
Author(s):  
Tyrone T. Lin ◽  
Shu-Yen Hsu
Keyword(s):  
Decision Making ◽  
Sensitivity Analysis ◽  
Food Safety ◽  
Utility Function ◽  
Raw Materials ◽  
Expected Profit ◽  
Optimal Order ◽  
Risk Averse ◽  
Order Quantity ◽  
Optimal Order Quantity

In uncertain food safety environments, the suppliers of food raw materials (FRM) are facing crucial food safety issues. Therefore, this article aims to probe the risk-averse attitude of FRM suppliers in the face changing marketing environments, in order to establish a decision-making theory as a standard reference for optimization methods to satisfy the maximum expected profit and utility function for the optimal order quantity of FRM suppliers’ decision-making. We assume that urgent orders are permitted when products are out of stock, and surplus products will be sold at discounted prices, as based on the food safety circumstances and the differences of market acceptance (optimistic/normal/pessimistic), in order to affect the procurement costs and selling prices. The results of sensitivity analysis for the maximum expected profit show that the probability of imported FRM having no food safety problems when the external environment has no food safety problems is the most important parameter, with the importers fulfilling their responsibility for FRM source quality control. Meanwhile, a responsible attitude toward handling a crisis will reduce losses, transform the crisis into an opportunity, and win the trust of consumers, thereby, fostering corporate sustainability. Sensitivity analysis identifies the significant parameters that influence suppliers’ maximum utility function, and provides a reference by which food-related companies may formulate sustainable business policies.

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