scholarly journals Analysis Inventory Cost Jona Shop with EOQ Model

2021 ◽  
Vol 3 (1) ◽  
pp. 21-25
Author(s):  
Abigail Vania ◽  
Hanni Yolina
Keyword(s):  
Lead Time ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Valid Model ◽  
Inventory Costs ◽  
Eoq Model ◽  
Holding Cost

Jona Shop is located in Indonesia, Jakarta is currently having a problem. The problem is the shop’s owner thinks that the inventory costs are too big especially for a powdered drink which brand is “Nutrisari”. The author finishes an EOQ (Economic Order Quantity) model for minimize the inventory cost. EOQ model is an old model but a valid model which still used now. Even EOQ model is an old model, many researchers used EOQ model to minimize inventory cost until 50% or more than 50%. But the EOQ model has some assumptions and Jona Shop fulfilled all the assumptions in the EOQ model. The assumptions of EOQ model are demand is known and constant, the lead time is constant and known, only one product can be estimated, every order is accepted in one-time delivery and can be used right away, there is no backorder because run out stock, no discount, and the holding cost per year and the ordering cost per year are constant. The result of the EOQ model can save up to almost 90%.

Economic Order Quantity Model for Minimizing Total Inventory Cost at PT PQR in Indonesia

2015 ◽  
Vol 21 (4) ◽  
pp. 1053-1056
Author(s):  
Bachtiar H. Simamora
Keyword(s):  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Traditional Practice ◽  
Inventory Costs ◽  
Eoq Model ◽  
Total Inventory

The purpose of this research is to see whether an Economic Order Quantity model can be used to reduce cost of inventory significantly in PT PQR, manufacturer of spring and sponge mattresses in Pekanbaru, Indonesia. The research was conducted on three main materials required in producing spring and sponge mattresses. Using Economic Order Quantity (EOQ) model to analyze historical demand on main materials, it is proven that with EOQ model the company can save by more than 45% from procuring and inventory costs of those materials. The research continues to forecast the sales demand to get the annual requirement of materials needed in 2014 and calculate the EOQ model again. The results show that, comparing with traditional practice done by company, EOQ model can reduce costs up to 118 million rupiah per year.

scholarly journals Analisis Pengendalian Persediaan Bahan Baku dengan Menerapkan Metode EOQ (Economic Order Quantity) pada PT. Jatisari Furniture Work

2021 ◽  
Vol 5 (1) ◽  
pp. 215
Author(s):  
Arga Sutrisna ◽  
Rizki Ginanjar ◽  
Suci Putri Lestari
Keyword(s):  
Production Costs ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Analysis Tool ◽  
Order Quantity ◽  
Inventory Cost ◽  
Total Cost ◽  
Inventory Costs ◽  
Total Inventory

This research objectives aims to determine and analyze raw material inventory control, the ideal raw material inventory that the company must provide and the efficiency of production costs carried out by Jatisri Furniture Work in Tasikmalaya for the period 2018.11 – 2020.02. The data collection method in this study is by direct observation at Jatisari Furniture Work in Tasikmalaya. Using techniques such us interviews, observation, and documentation. These observations were made in production reports for the years 2018 – 2020. The analysis tool was carried out using the Economic Order Quantity (EOQ) method such us safety stock, reorder point, and total inventory cost. The result of the Economic Order Quantity (EOQ) analysis show that the total cost of raw the material inventory that must be incurred by the company is greater than the total cost of inventories calculated according to the EOQ method. Companies should follow the calculations from the EOQ method so that they can save on raw material inventory costs, so that production costs are more efficient.

scholarly journals Analisis Persediaan Karton dengan Metode Economic Order Quantity (EOQ) (Studi Kasus: PT. Asegar Murni Jaya, Minahasa Utara)

2021 ◽  
Vol 21 (2) ◽  
pp. 170
Author(s):  
Therechia A.F. Soares ◽  
Chriestie E.J.C. Montolalu ◽  
Tohap Manurung
Keyword(s):  
Mineral Water ◽  
Raw Materials ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Analysis ◽  
Inventory Costs ◽  
Holding Cost ◽  
Materials Used

Karton merupakan salah satu bahan baku pembantu yang digunakan dalam produksi Air Mineral dalam Kemasan. Menurut beberapa penelitian Metode EOQ digunakan untuk menganalisa persediaan. Tujuan penelitian ini yaitu untuk menentukan jumlah pemesanan ekonomis menggunakan metode Economic Order Quantity (EOQ) dan pengoptimalan biaya yang dapat dilakukan dengan metode EOQ.  Penelitian ini dilakukan pada bulan November 2019 hingga Januari 2020 di perusahaan PT. Asegar Murni Jaya. Variabel yang digunakan yaitu frekuensi kebutuhan karton, biaya pemesanan bahan baku dan biaya penyimpanan bahan baku.  Hasilnya menunjukkan bahwa pemesanan ekonomis menurut metode EOQ untuk karton dengan biaya optimal sebesar  unit untuk periode November 2017 – Oktober 2018 dan unit untuk periode November 2018 – Oktober 2019. Terjadi penghematan dalam biaya persediaan untuk periode November 2017 – Oktober 2018 sebesar  dan untuk periode November 2018 – Oktober 2019 sebesar .Kata kunci: Economic Order Quantity;  karton;  persediaan Carton Inventory Analysis Using the Economic Order Quantity (EOQ) Method (Case Study: PT. Asegar Murni Jaya, Minahasa Utara)ABSTRACTCarton is one of the supporting raw materials used in the production of bottled  or glass mineral water. Based on some research, for analyzed inventory will be used  Economic Order Quantity (EOQ) Method. The purpose of this research was to determine the amount of economic order using Economic Order Quantity (EOQ). This research was conducted in November 2019 until January 2020 at PT. Asegar Murni Jaya. Variables used i.e the frequency of carton demand, ordering cost and holding cost.  The results show that it can be seen that economical order according to EOQ method cartons is  pcs for November 2017 – October 2018 periode and for November 2018 – October 2019 periode. There were savings in inventory costs for the period November 2017 - October 2018 amounting to  and for the period November 2018 - October 2019 amounting to .Keywords : Carton; Economic Order Quantity; inventory

scholarly journals Tinjauan Kapasitas Persediaan Produk Fuji Seat PT. Tri Jaya Teknik Karawang

2021 ◽  
Vol 5 (1) ◽  
pp. 33
Author(s):  
Aries Adiyanto ◽  
Dene Herwanto
Keyword(s):  
Raw Materials ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Administrative Costs ◽  
Eoq Model ◽  
Engineering Company ◽  
Holding Cost ◽  
The Cost

PT. Tri Jaya Teknik Karawang is an engineering company engaged in fabrication, machining and side parts. PT. Tri Jaya Teknik started pioneering a business since 2007 and started owning and occupying its own workshop in 2009. Currently the company already has 2 plant workshops with a total area of 3,080 m2 and has about 100 employees. One of the products produced is Fuji seat, based on the data collected there are 3 parts of the process. The 3 parts of the process are repair 1, repair 2, repair 3. With each there is a check parts & packing table. The method used in companies to manage raw material inventories is still conventional, namely by making continuous purchases without estimating according to needs. So that there is often an excess of raw materials or a shortage of raw materials at a certain time, this makes the costs incurred inefficient and often disrupts the production process. A review of the inventory capacity of Fuji Seat products in this study was carried out using the Economic Order Quantity (EOQ) model. The main raw material inventory data used is Fuji Seat in the 2016-2019 period. Holding cost raw materials is set by PT. Tri Jaya Teknik Karawang is 2.5% of the price per pcs, this value is used for procurement and repair of tools and equipment in the warehouse. If there is no damage, the cost is allocated to the warehouse manager in that month. Meanwhile, the cost of ordering which consists of the price of goods and shipping costs is determined by PT. Tri Jaya Teknik Karawang, amounting to IDR 100,000.00. This fee includes administration and transportation costs. Administrative costs, namely executive salaries and other supporters, as well as taxes related to the company. The cost of shipping transport is the distance traveled and the weight of the product ordered. Based on the calculation of EOQ (Economic Order Quantity), the most economical amount of raw materials using the EOQ model is 6,815.5 Pcs with 187 purchases a year. PT. Tri Jaya Teknik Karawang adalah perusahaan engineering yang bergerak di bidang fabrikasi, machining dan part samping. PT. Tri Jaya Teknik mulai merintis bisnis sejak tahun 2007 dan mulai memiliki dan menempati workshop sendiri di tahun 2009. Saat ini perusahaan telah memiliki 2 plant workshop dengan total luas 3.080 m2 dan memiliki karyawan berjumlah sekitar 100 orang. Salah satu produk yang dihasilkan adalah fuji seat, berdasarkan data yang dikumpulkan ada 3 bagian proses. 3 bagian proses itu adalah repair 1, repair 2, repair 3. Dengan masing-masing terdapat meja check part & packing. Metode yang digunakan pada perusahaan untuk mengelola persediaan bahan baku masih secara konvensional, yaitu dengan melakukan pembelian terus menerus tanpa memperkirakan sesuai dengan kebutuhan. Sehingga seringkali terjadi kelebihan bahan baku atau kekurangan bahan baku di saat tertentu, hal ini membuat biaya yang dikeluarkan menjadi tidak efisien dan sering kali mengganggu proses produksi. Tujuan penelitian ini yaitu mampu mengetahui perhitungan EOQ dan frekuensi pembelian yang paling ekonomis dalam perusahaan. Tinjauan kapasitas persediaan produk Fuji Seat dalam penelitian ini dilakukan dengan menggunakan model Economic Order Quantity (EOQ). Data persediaan bahan baku utama yang digunakan adalah Fuji Seat pada periode 2016-2019.Biaya penyimpanan bahan baku di tetapkan oleh pihak PT. Tri Jaya Teknik Karawang sebesar 2,5% dari harga per pcs, nilai tersebut digunakan untuk keperluan pengadaan dan perbaikan 

scholarly journals PENGATURAN PERSEDIAAN BERAS DI PERUM BULOG DIVRE SULTENG DENGAN METODE ECONOMIC ORDER QUANTITY (EOQ)

2018 ◽  
Vol 15 (2) ◽  
pp. 220-237
Author(s):  
Nildawati Nildawati ◽  
R Ratianingsih ◽  
A Sahari
Keyword(s):  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Inventory Costs ◽  
Reorder Point ◽  
Rice Price ◽  
Efficiency Cost ◽  
Total Inventory ◽  
Central Sulawesi

Perum BULOG of Central Sulawesi Division is a national rice logistic company that its responsibility is to guarantee the sufficiency to meet the rice needs. Perum BULOG also responsible to keep rice price stability. One of the rice price component is the inventory costs that need to be managed. In this research the management is refered to the rice scheme demand of four storages, that are Olaya, Lawanga, Jaya Kencana Toili and Galang. This study uses EOQ (Economic Order Quantity) that consist of five priorities, that are determining the of economical order, determining the amount of safety stock, determining the maximum inventory quantities, determining the reorder point and determining total inventory cost. The results showed that the number of economical order storage of Olaya is 1.817.120,57 kg/message, Lawanga is 1.893.400,78 kg/message, Jaya Kencana Toili is 1.575.543,38 kg/messages and Galang is 1.578.742,75 kg/message. The total Inventory Security for Olaya is 32.371,28 kg, Lawanga is 41.020,07 kg, Jaya Kencana Toili is 30.630,61 kg, and Galang is 57.307,99kg. The maximum inventory for Olaya is 1.849.491,85 kg, Lawanga is 1.934.420,85 kg, Jaya Kencana Toili is 1.606.173,99 kg, and Galang is 1.636.050,74 kg. The reorder point is proposed when rice stock of Olaya reaches 323.664,52 kg, Lawanga reaches 357.282,87 kg, Jaya Kencana Toili reaches 249.620,29 kg and Galang reaches 277.188 kg. The total inventory cost that use Economic Order Quantity is Rp. 2.507.626,39 for Olaya, Rp. 2.612.893,07 for Lawanga, Rp.2.174.249 ,87 for Jaya Kencana Toili, and Rp 2.178.665,00 for Galang. The Efficiency cost of rice supplies BULOG Division is Rp.40.405,29 for Olaya, Rp. 719.256,02 for Lawanga, Rp. 51187.63 for Jaya Kencana Toili, and Rp. 153.528,73 for Galang. These result gives greatest efficiency at the cost of supplies of Perum BULOG Division Central Sulawesi for Lawanga 22% as much.

scholarly journals Optimalisasi Persediaan Bahan Bakar Solar Pada PT. Macindo Mitra Raya Dengan Metode Economic Order Quantity (EOQ)

2020 ◽  
Vol 17 (1) ◽  
pp. 58-69
Author(s):  
M E Rizanjani ◽  
A Sahari ◽  
D Lusiyanti
Keyword(s):  
Diesel Fuel ◽  
Diesel Oil ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Fuel Type ◽  
Inventory Cost ◽  
Inventory Costs ◽  
The Cost ◽  
Industrial Company

PT. Macindo Mitra Raya is a type of diesel oil (BBM) industrial company that supplies diesel fuel to full fill industrial nesercity, where one of the prices of diesel is the cost of inventory that needs to be managed. This study aims to determine the total cost of diesel fuel type inventories and determine the amount of stock of diesel fuel that is economical at PT. MACINDO MITRA RAYA through the Economic Order Quantity (EOQ) method. To calculation the number of economical orders, the formula √ 2𝐷𝑆 𝐻 is used. Then to determine the total fuel inventory cost, the formula √2𝐷𝑆𝐻 is used where D is the annual fuel order, S as the order ordering cost and H as the total ordering cost per message. From the results of the study indicate that the economical order for PT.Macindo Mitra Raya is 48,814.07 liters and the amount of inventory costs is Rp. 1,199,039,533. From the results obtained from the research conducted it has implications for the greatest efficiency in the cost of inventory of PT. Macindo Mitra Raya.

scholarly journals Pengendalian Persediaan Pozzolan di PT Semen Padang

2016 ◽  
Vol 13 (2) ◽  
pp. 665
Author(s):  
Prima Fithri ◽  
Annise Sindikia
Keyword(s):  
Data Processing ◽  
Inventory Control ◽  
Lead Time ◽  
Raw Materials ◽  
Copper Slag ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Costs ◽  
Cement Manufacture

Inventory of raw materials is the most important thing to produce the product. Inventory control of the raw materials quantityalso refers to the production process at the factory. PT Semen Padang used raw materials including cement manufacture clay, limestone, silica, gypsum, pozzolan and sand iron or copper slag. Among the raw materials, the most used is pozzolan. This research will be carried out data processing for inventory control using the EOQ (Economic Order Quantity) and POQ (Periodic Order Quantity) to compare with inventory control has been implemented by the company. The data collected for this study include data processing is the use of historical data pozzolan material per period in 2012 and 2013, the cost of raw materials ordering pozzolan, pozzolan storage costs of raw materials and lead time, acceptance of pozzolan from suppliers to storage. Data processing is performed to determine the inventory control of raw materials sand pozzolan in 2014. The results and conclusions obtained are forecasting the use of pozzolan in 2014 is 1.135.355,77 tons it means will be more than in previous years and the inventory control with POQ (Periodic Order Quantity) produces the minimum inventory costs with price Rp 1.775.179.959,61.Keywords: forecasting, inventory, EOQ, POQAbstrakPersediaan bahan baku merupakan elemen terpenting dalam produksi yang dilakukan oleh perusahaan untuk menghasilkan produk. Pengendalian persediaan terhadap kuantitas bahan baku yang dilakukan gudang juga merujuk ke proses produksi yang dilakukan oleh pabrik. Pabrik-pabrik di PT Semen Padang tersebut menggunakan bahan baku pembuatan semen diantaranya tanah liat (clay), batu kapur, batu silika, gypsum, pozzolan dan pasir besi atau copper slag. Diantara bahan baku tersebut, pemakaian terbanyak adalah pemakaian pozzolan. Pada penelitian ini akan dilakukan pengolahan data untuk pengendalian persediaan dengan menggunakan metode EOQ (Economic Order Quantity) dan POQ (Periodic Order Quantity) untuk membandingkan dengan pengendalian persediaan yang telah diterapkan oleh perusahaan. Data yang dikumpulkan untuk pengolahan data penelitian ini diantaranya yaitu data historis pemakaian bahan baku pozzolan per periode pada tahun 2012 dan 2013, biaya pemesanan bahan baku pozzolan, biaya penyimpanan bahan baku pozzolan dan waktu tenggang (lead time) penerimaan pozzolan dari pemasok ke gudang. Pengolahan data yang dilakukan adalah untuk menentukan pengendalian persediaan bahan baku pasir pozzolan di tahun 2014. Hasil dan kesimpulan yang diperoleh adalah peramalan pemakaian pozzolan di tahun 2014 akan lebih banyak dibanding tahun-tahun sebelumnya yaitu dengan total pemakaian sebanyak 1.135.355,77 ton dan pengendalian persediaan dengan metode POQ (PeriodicOrderQuantity) menghasilkan biaya persediaan yang lebih minimum yaitu sebesar Rp 1.775.179.959,61.Kata kunci: peramalan, persediaan, EOQ, POQ

scholarly journals Evaluation of Raw Material Inventory in Socks Home Industry Using Economic Order Quantity (EOQ)

2021 ◽  
Vol 11 (4) ◽  
pp. 4561-4572
Author(s):  
Haridhsah Hilmi Septiawan ◽  
Rorim Panday
Keyword(s):  
Raw Materials ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Literature Study ◽  
Inventory Costs ◽  
Analysis Technique ◽  
Holding Cost ◽  
Total Inventory

This study aims to evaluate purchasing raw materials and the Home Industry Socks by using the Economic Order Quantity (EOQ) method and the compare to the company's actual method. And to find out whether the EOQ method is effective to be applied to the company. The data used in this study are in the form of notes, reports, and company documentation for the period 2017, 2018, and 2019 provided by the owner through observation, interview, documentation, and literature study. Meanwhile, the usage data, raw material prices, and raw material purchase data are obtained from company records. The analysis technique in this study used EOQ formula, standard deviation, safety stock, Total Holding Cost, Total Ordering Cost, and Total Inventory Cost. The result of this research is that EOQ method is effective to be applied to socks home industry companies to control inventory more efficiently because it can minimize inventory costs.

scholarly journals Application of Langrangian Theory in Inventory Cost Reduction of a Firm

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Taofik K Oriolowo ◽  
Kolawole A Oladejo ◽  
Rahaman Abu ◽  
Wole A Ayanrinde ◽  
Sakiru G Adesokan
Keyword(s):  
Cost Reduction ◽  
Raw Materials ◽  
Inventory Model ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Pareto Analysis ◽  
Eoq Model ◽  
Unit Space

Current events confirm the vital and dynamic need for studies that embrace Economics, Engineering, Management, and many other disciplines to confront the difficulties encountered in converting raw inputs to manufacturing outputs. This paper presents the assessment of inventory control system in a typical steel construction firm in Ibadan, Nigeria, with a view to predicting how best the inventory cost can be reduced. Data were collected by interviewing appropriate respondents at the production, stores, transport, purchasing, accounts, and wages sections of the firm and relevant documents used between the year 2014 and 2019. These were tailored towards identifying the controllable variables that were later classified using ABC Pareto analysis; implementation of an inventory model (Langrangian Multiplier) by mathematically relating the variables to the total cost; and evaluating the optimal values of the variables and the optimal cost of the system. The raw materials of the outfit were found to involve 88 items; which were grouped into 5, 20 and 63 items for classes A, B, and C respectively in accordance to ABC Pareto analysis. The identified controllable variables involved premises rent, unit ordering cost, annual demand, unit space and unit holding cost. On implementing the model, the annual total inventory cost was found to be N307,446.25, N154,667.50, and N84,035.00 for quarterly, bi-annual and annual inventory policies respectively; while the annual Economic Order Quantity (EOQ) was found to be N45,110.65 per annum. This shows that the company’s inventory cost can be reduced by N262,335.60  (85%), if the Annual Economic Order Quantity (proposed model)is implemented. This study has revealed the effect of implementing a standard inventory model for cost reduction in the area of material management.Keywords—Economics, Engineering, EOQ model, Inventory cost reduction, Management.

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