scholarly journals Inventory Planning with Method Q and Method P for Probabilistic Demand on Chrysanthemum Seeds at PT Transplants Indonesia

2019 ◽  
Vol 3 (01) ◽  
pp. 38-46
Author(s):  
Akhmad Sutoni ◽  
Dani Hamdan Taufik
Keyword(s):  
Inventory Model ◽  
Inventory System ◽  
Inventory Systems ◽  
Q Method ◽  
Inventory Cost ◽  
Agricultural Cooperative ◽  
Reorder Point ◽  
Total Inventory ◽  
The Right ◽  
Cooperative Association

Fluctuating and uncertain demand is a problem faced by manufacturing firms. The problem can be mitigated by the availability of inventory systems. This inventory serves to ensure the availability of appropriate resources in the right quantity and at the right time, so as to minimize the costs incurred. PT. Transplants Indonesia is a company engaged in the business of chrysanthemum flower in Indonesia. PT. Transplants Indonesia is a subsidiary of Okinawa Flower Agricultural Cooperative Association (OKF) in Okinawa, Japan. The purpose of this company establishment is to meet the demand of farmers who are members of the OKF.  In the case of backorder, on Q method with probabilistic request the size of the lottery (Q) is always fixed for every time the order is made and the order is made if the amount of inventory system has reached a certain level (r) called the reorder point. In method P with probabilistic order requests made according to a fixed interval of time (T) and the ordering does not exceed the maximum inventory limit (R). Total Inventory cost incurred by the company using the method used by the company amounted to Rp.74.995.360,84. The inventory model using the Q method generates a total inventory cost of Rp.70.253.291,46. Meanwhile, inventory model using P method resulted in total inventory cost of Rp.71.529.327,17. So economically, the selected inventory model is the inventory model with the Q method which has a lower total inventory cost value than using the P method.   Keywords— Inventory system, Probabilistic, Backorder, Method Q, Method P, Reorder point.

Inventory Planning with Method Q and Method P for Probabilistic Demand on Chrysanthemum Seeds at PT Transplants Indonesia

2019 ◽  
Vol 3 (01) ◽  
pp. 57
Author(s):  
Akhmad Sutoni ◽  
Dani Hamdan Taufik
Keyword(s):  
Inventory Model ◽  
Inventory Systems ◽  
Uncertain Demand ◽  
Q Method ◽  
Inventory Cost ◽  
Agricultural Cooperative ◽  
Total Inventory ◽  
The Right ◽  
Cooperative Association ◽  
A Company

Fluctuating and uncertain demand is a problem faced by manufacturing firms. The problem can be mitigated by the availability of inventory systems. This inventory serves to ensure the availability of appropriate resources in the right quantity and at the right time, so as to minimize the costs incurred. PT. Transplants Indonesia is a company engaged in the business of chrysanthemum flower in Indonesia. PT. Transplants Indonesia is a subsidiary of Okinawa Flower Agricultural Cooperative Association (OKF) in Okinawa, Japan. The purpose of this company establishment is to meet the demand of farmers who are members of the OKF. In the case of backorder, on Q method with probabilistic request the size of the lottery (Q) is always fixed for every time the order is made and the order is made if the amount of inventory has reached a certain level (r) called the reorder point. In method P with probabilistic order requests made according to a fixed interval of time (T) and the ordering does not exceed the maximum inventory limit (R). Total Inventory cost incurred by the company using the method used by the company amounted to Rp.74.995.360,84. The inventory model using the Q method generates a total inventory cost of Rp.70.253.291,46. Meanwhile, inventory model using P method resulted in total inventory cost of Rp.71.529.327,17. So economically, the selected inventory model is the inventory model with the Q method which has a lower total inventory cost value than using the P method.

scholarly journals Inventory model for deteriorating items with negative exponential demand, probabilistic deterioration and fuzzy lead time under partial back logging

2020 ◽  
Vol 30 (3) ◽  
Author(s):  
Nabendu Sen ◽  
Sumit Saha
Keyword(s):  
Inventory Management ◽  
Lead Time ◽  
Probability Distributions ◽  
Optimal Strategies ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Optimal Time ◽  
Inventory Cost ◽  
Total Inventory ◽  
Negative Exponential

The effect of lead time plays an important role in inventory management. It is also important to study the optimal strategies when the lead time is not precisely known to the decision makers. The aim of this paper is to examine the inventory model for deteriorating items with fuzzy lead time, negative exponential demand, and partially backlogged shortages. This model is unique in its nature due to probabilistic deterioration along with fuzzy lead time. The fuzzy lead time is assumed to be triangular, parabolic, trapezoidal numbers and the graded mean integration representation method is used for the defuzzification purpose. Moreover, three different types of probability distributions, namely uniform, triangular and Beta are used for rate of deterioration to find optimal time and associated total inventory cost. The developed model is validated numerically and values of optimal time and total inventory cost are given in tabular form, corresponding to different probability distribution and fuzzy lead-time. The sensitivity analysis is performed on variation of key parameters to observe its effect on the developed model. Graphical representations are also given in support of derived optimal inventory cost vs. time.

ANALISIS PENGENDALIAN PERSEDIAAN BAHAN BAKU DENGAN METODE ECONOMIC ORDER QUANTITY PADA CV. DIKA JOK JENGGAWAH

2019 ◽  
Vol 18 (2) ◽  
Author(s):  
Siti Husnul Hotima ◽  
Dini Hayati
Keyword(s):  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Safety Stock ◽  
Reorder Point ◽  
Total Inventory ◽  
Point Total

Tujuan yang diharapkan dari penelitian ini adalah ingin menganalisis persediaan bahan baku optimal yang dibutuhkan dengan menggunakan metode Economic Order Quantity (EOQ), menganalisis berapa besar persediaan pengaman (Safety stock), menganalisis kapan waktu yang tepat untuk melakukan pemesanan kembali (reorder point), menganalisis total persediaan bahan baku atau Total Inventory Cost (TIC). Jenis penelitian yang digunakan adalah kuantitatif deskriptif. Teknik pengumpulan data yang digunakan dalam penelitian ini adalah wawancara, observasi, dan dokumentasi. Penelitian dan hasil perhitungan yang dilakukan menunjukkan bahwa persediaan bahan baku setiap tahunnya tidak stabil. Bahan baku yang dibutuhkan oleh perusahaan apabila dihitung menggunakan metode Economic Order Quantity (EOQ) pada tahun 2016 adalah sebesar 11,52 m3 dengan frekuensi pembelian 6 kali per periode (1 tahun). Tahun 2017 sebesar 9,90 m3 dengan frekuensi pembelian 6 kali per periode (1 tahun). Persediaan pengaman (safety stock) pada tahun 2016 adalah sebesar 16,48 m3. Pada tahun 2017 sebesar 11,25 m3. Titik pemesanan kembali (reorder point) pada tahun 2016 adalah sebesar 17,18 m3. Pada tahun 2017 sebesar 13,1 m3. Total biaya persediaan bahan baku yang dihitung menurut Economic Order Point (EOQ) lebih sedikit dibandingkan dengan yang dikeluarkan oleh perusahaan, maka ada penghematan biaya persediaan. Pada tahun 2016 sebesar Rp.110.499.402 dan pada tahun 2017 sebesar Rp.81.655.306. Kata Kunci: Economic Order Quantity (EOQ), Persediaan Pengaman (Safety Stock), Titik Pemesanan Kembali (Reorder Point), Total Biaya Persediaan atau Total Inventory Cost (TIC).

scholarly journals ANALISIS KINERJA MANAJEMEN PERSEDIAAN DI BARJAZ COMPANY MENGGUNAKAN PENDEKATAN EOQ

2018 ◽  
Vol 8 (1) ◽  
pp. 203
Author(s):  
I Made Antony Dwi Putra ◽  
Agoes Ganesha Rahyuda
Keyword(s):  
Control System ◽  
Inventory Control ◽  
Study Data ◽  
Inventory System ◽  
Raw Material ◽  
Inventory Cost ◽  
Safety Stock ◽  
Analysis Techniques ◽  
Inventory Turnover ◽  
Total Inventory

A large amount of inventory in the company makes high inventory cost, while low inventory will risk the occurrence of shortage of inventory. The research was conducted at Barjaz Company, to find out how the raw material inventory system applied by the company, and whether the system is efficient or not. Methods of data collection is done by conducting interviews to parties related to inventory and observation on the object under study. Data analysis techniques used are; EOQ analysis, determining safety stock, determining reorder point, determining maximum inventory, calculating inventory turnover and calculating total inventory cost. The results show that the inventory system applied today is still not effective. Companies should conduct inventory control system using EOQ method. With the implementation of EOQ, the company's inventory turnover value increased and the company issued a total inventory cost of Rp 1,099,982, lower than the company's inventory control system at Rp 1,671,100.

scholarly journals Inventory Model with Partial Backordering When Backordered Customers Delay Purchase after Stockout-Restoration

2016 ◽  
Vol 2016 ◽  
pp. 1-16
Author(s):  
Ren-Qian Zhang ◽  
Yan-Liang Wu ◽  
Wei-Guo Fang ◽  
Wen-Hui Zhou
Keyword(s):  
Layer Structure ◽  
Inventory Model ◽  
Inventory Cost ◽  
Cost Component ◽  
Lipschitz Optimization ◽  
Partial Backordering ◽  
Demand Rate ◽  
Holding Cost ◽  
Total Inventory ◽  
Inventory Holding

Many inventory models with partial backordering assume that the backordered demand must be filled instantly after stockout restoration. In practice, however, the backordered customers may successively revisit the store because of the purchase delay behavior, producing a limited backorder demand rate and resulting in an extra inventory holding cost. Hence, in this paper we formulate the inventory model with partial backordering considering the purchase delay of the backordered customers and assuming that the backorder demand rate is proportional to the remaining backordered demand. Particularly, we model the problem by introducing a new inventory cost component of holding the backordered items, which has not been considered in the existing models. We propose an algorithm with a two-layer structure based on Lipschitz Optimization (LO) to minimize the total inventory cost. Numerical experiments show that the proposed algorithm outperforms two benchmarks in both optimality and efficiency. We also observe that the earlier the backordered customer revisits the store, the smaller the inventory cost and the fill rate are, but the longer the order cycle is. In addition, if the backordered customers revisit the store without too much delay, the basic EOQ with partial backordering approximates our model very well.

scholarly journals Analisis Manajemen Persediaan Ikan Segar di Depo Ikan Segar Kota Surakarta

2019 ◽  
Vol 2 (2) ◽  
pp. 118
Author(s):  
Diasicha Valensio Violenta ◽  
Sri Marwanti ◽  
RR Aulia Qonita
Keyword(s):  
Random Sampling ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Safety Stock ◽  
Purposive Sampling ◽  
Fresh Fish ◽  
Reorder Point ◽  
Total Inventory

ABSTRACTThis study aims to determine the quantity and frequency of ordering fresh fish, total inventory cost, safety stock and reorder points based on the method Economic Order Quantity  the exactand knowing the ratio of total costs of fresh fish inventory if the traders at the Depo Ikan Segar use their own policies using the method Economic Order Quantity. The basic method used in this research is descriptive method. The location was determined by purposive sampling and selected the Depo Ikan Segar in Surakarta City because it was the whole sale center for fresh fish in Surakarta City. Determination of the sample using random sampling technique by proporsive sampling. Data analysis methods used are: (1) optimal quantity and ordering frequency (2) total inventory costs (3) calculation of safety stock and reorder points. The results of the analysis show that the calculation of the quantity, frequency of ordering fresh fish, total inventory cost, safety stock and reorder point will be optimal if using the method Economic Order Quantity compared to the merchant policy at Depo Ikan Segar.Keywords: Economic Order Quantity, Optimal Ordering Frequency, Reorder Point, Safety Stock, Total Inventory Cost INTISARIPenelitian ini bertujuan untuk mengetahui besar kuantitas dan frekuensi pemesanan ikan segar, total biaya persediaan, safety stock dan reorder point yang tepat berdasarkan metode Economic Order Quantity, serta mengetahui perbandingan total biaya persediaan ikan segar jika pedagang di Depo Ikan Segar menggunakan kebijakannya sendiri dengan menggunakan metode Economic Order Quantity. Metode dasar yang digunakan dalam penelitian ini adalah metode deskriptif. Penentuan lokasi secara purposive sampling dan terpilih Depo Ikan Segar Kota Surakarta karena merupakan pusat grosir ikan segar di Kota Surakarta. Penentuan sampel menggunakan teknik random sampling dengan cara proporsive sampling. Metode analisis data yang digunakan adalah : (1) kuantitas dan frekuensi pemesanan optimal (2) total biaya persediaan (3) perhitungan safety stock dan reorder point. Hasil analisis menunjukkan bahwa perhitungan kuantitas, frekuensi pemesanan, total biaya persediaan, safety stock dan reorder point akan optimal apabila menggunakan metode Economic Order Quantity dibanding dengan kebijakan pedagang di Depo Ikan Segar.Kata kunci:  Economic Order Quantity, Frekuensi Pemesanan Optimal, Persediaan Pengaman, Titik Pemesanan Kembali, Total Biaya Persediaan

scholarly journals Controllable deterioration rate for time-dependent demand and time-varying holding cost

2014 ◽  
Vol 24 (1) ◽  
pp. 87-98 ◽  
Author(s):  
Vinod Mishra
Keyword(s):  
Linear Function ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Inventory Cost ◽  
Deterioration Rate ◽  
Preservation Technology ◽  
Demand Rate ◽  
Holding Cost ◽  
Total Inventory ◽  
Dependent Demand

In this paper, we develop an inventory model for non-instantaneous deteriorating items under the consideration of the facts: deterioration rate can be controlled by using the preservation technology (PT) during deteriorating period, and holding cost and demand rate both are linear function of time, which was treated as constant in most of the deteriorating inventory models. So in this paper, we developed a deterministic inventory model for non-instantaneous deteriorating items in which both demand rate and holding cost are a linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged. The model is solved analytically by minimizing the total cost of the inventory system. The model can be applied to optimizing the total inventory cost of non-instantaneous deteriorating items inventory for the business enterprises, where the preservation technology is used to control the deterioration rate, and demand & holding cost both are a linear function of time.

Two-Echelon Inventory Stochastic Model of Supply Chain Based on Service Level Constraints

2014 ◽  
Vol 971-973 ◽  
pp. 2448-2451
Author(s):  
Da Li Jiang ◽  
Guang Fu Zhu ◽  
De Li
Keyword(s):  
Supply Chain ◽  
Stochastic Model ◽  
Service Level ◽  
Inventory Model ◽  
Inventory Level ◽  
Effective Algorithm ◽  
Inventory Cost ◽  
Total Inventory

The study on multi-echelon inventory of supply chain is becoming more and more important in E-business era. This paper proposes a two-echelon inventory model with one supplier and several retailers, in which a certain service level has to be satisfied and the goal is to minimize the total inventory cost. In addtion it puts forward an effective algorithm for this model to obtain the optimal replenishment period and inventory level of each supply chain node.

scholarly journals Impact of cost of substitution and joint replenishment on inventory decisions for joint substitutable and complementary items under asymmetrical substitution

2020 ◽  
Vol 11 (2) ◽  
pp. 1
Author(s):  
Rajesh Kumar Mishra ◽  
Vinod Kumar Mishra
Keyword(s):  
Sensitivity Analysis ◽  
Solution Procedure ◽  
Substantial Improvement ◽  
Inventory Model ◽  
Inventory Cost ◽  
Joint Replenishment ◽  
Total Inventory ◽  
Inventory Decisions ◽  
Optimal Ordering ◽  
Cost Of Substitution

<p>In this paper, impact of cost of substitution and joint replenishment on inventory decisions for joint substitutable and complementary items under asymmetrical substitution has been studied. The phenomenon of substitution is considered in a stock-out situation and when items become out of stock due to demand then unfulfilled demand is asymmetrically substituted by another item. We formulate the inventory model mathematically and derived optimal ordering quantities, optimal total costs and extreme value of substitution rate for all possible cases. Moreover, pseudo-convexity of the total inventory cost function is obtained and the solution procedure is provided. Numerical example and sensitivity analysis have been presented to validate the effectiveness of the inventory model and substantial improvement in total optimal inventory cost with substitution with respect to optimal total inventory cost without substitution is seen.</p><p><em><br /></em></p>

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