scholarly journals Decreasing Total Inventory Cost by Controlling Inventory in Motorcycle Dealer

2020 ◽  
Vol 22 (2) ◽  
pp. 41-49
Author(s):  
David ◽  
Engmir ◽  
Irwan Budiman ◽  
Jusra Tampubolon
Keyword(s):  
Inventory Management ◽  
Demand Forecasting ◽  
Spare Parts ◽  
Order Quantity ◽  
Inventory Cost ◽  
Safety Stock ◽  
Safety Stocks ◽  
Forecasting Method ◽  
Total Inventory ◽  
Abc Analysis

This research was conducted at one of the motorcycle dealers in Indonesia. Besides selling motorcycles, this dealer also provides services to repair motorcycles and sells genuine motorcycle parts. Inventory management which the company carried out is still not good enough because there are still demand for spare parts from consumers that cannot be fulfilled by the company. The purpose of this study is to draw up a plan to control spare parts by paying attention to the spare parts that need to be considered, estimating the exact number of spare parts demand, knowing the smallest total inventory cost, knowing the amount of safety stock needed, and knowing when to reorder. In preparing the spare parts control, the methods used are ABC analysis, demand forecasting method, and EOQ method. The results of this study are plans to control the inventory of Tire, Rr. such as the forecasting sales of Tire, Rr. as many as 17338, economic order quantity of Tire Rr are 2158 units, the number of safety stocks of Tire, Rr. needed in 2020 are 1738 units, and the reorder point in 2020 is 8 times with the total inventory cost for Tire, Rr. in 2020 is Rp. 30,009,005.

scholarly journals Implementation of inventory management in footwear industry

2021 ◽  
Vol 14 (2) ◽  
pp. 360
Author(s):  
Jeferson Conceição ◽  
José De Souza ◽  
Elton Gimenez Rossini ◽  
Alfonso Risso ◽  
Alexandre Beluco
Keyword(s):  
Inventory Management ◽  
Demand Forecasting ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Lot Size ◽  
Safety Stock ◽  
Forecasting Method ◽  
Abc Analysis ◽  
The Moment

Purpose: The objective of this research was to implement new inventory management in a footwear company through the analysis of indicators obtained from inventory data collection.Design/methodology/approach: The methods of ABC analysis, demand forecasting, safety stock, reorder point and economic order quantity were applied. The items in inventory were classified by order of financial importance through ABC analysis, and the proposed indicators were analyzed to determine the moment the inventory replenishment should be carried out as well as the purchase lot size for each item. The research also analyzed the behavior of the demand and pointed out the demand forecasting method that came closest to reality.Findings: The study presents a method of implementing inventory management based on indicators derived from the application of ABC curve methods, demand forecasting, safety stock, re-fulfillment point, and economic purchased lot. It also indicates how the ABC classification of stocks can be used to check the most representative materials in stock. The study also highlights that the rejection of modifications can be surpassed by obtaining favorable results.Research limitations/implications: The inventory management applied in this work is based on indicators that resulted in two main data which were able to define the size of the purchase lot to be ordered and the amount of material needed.Practical implications: The methods of ABC analysis, demand forecasting, safety stock, reorder point and economic order quantity were applied. The items in inventory were classified by order of financial importance through ABC analysis, and the proposed indicators were analyzed to determine the moment the inventory replenishment should be carried out as well as the purchase lot size for each item. The research also analyzed the behavior of the demand and pointed out the demand forecasting method that came closest to reality.Originality/value: In this study, a method applied is presented, highlighting the importance of the methodological application for the implementation of inventory management. The study contributes to the encouragement and adoption of methodologies to improve analysis and inventory management in companies.

scholarly journals Analisis Penerapan Manajemen Persediaan Bahan Baku Arm Rear Brake Kyea dengan Metode EOQ

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Ferry Utama Dwi Putra ◽  
Apid Hapid Maksum ◽  
Hamdani Hamdani
Keyword(s):  
Inventory Control ◽  
Production Planning ◽  
Inventory Management ◽  
Raw Materials ◽  
Order Quantity ◽  
Inventory Cost ◽  
Safety Stock ◽  
Good Production ◽  
Total Inventory ◽  
Operational Activities

Inventory management is an essential aspect of supporting good production planning in company business activities. The implementation of inventory management in the company is a primary need. If there is a problem in the supply of raw materials, all the company's operational activities will be disrupted. Inventories in manufacturing usually consist of raw materials, semi-finished goods, and finished goods or final products. Inventories of arm rear brake materials for the production process often experience shortages due to immature controls. This study aims to determine the inventory control of rear arm brake raw materials using the Economy Order Quantity (EOQ) method at PT. Ciptaunggul Karya Abadi. Based on the discussion results, it was found that ordering raw materials was carried out two times a year with a total order of 621 pieces with 86 pieces of safety stock and will be ordered again when raw materials collected 21 pieces. Total Inventory Cost (TIC), which was initially Rp110.264.235,00, can be saved to Rp70.598.399,00 so that the total savings that occur are Rp39.674.899,00 which is equal to 33.26%.

scholarly journals Optimalisasi Persediaan Bahan Baku Atap Spandex dengan Metode Q

2021 ◽  
Vol 23 (1) ◽  
pp. 1-8
Author(s):  
Indah Rizkya ◽  
Fernando
Keyword(s):  
Production Process ◽  
Inventory Management ◽  
Raw Materials ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Order Quantity ◽  
Inventory Cost ◽  
Safety Stock ◽  
Total Inventory

Inventory management is one of the most important aspects in light steel construction business activities. The application of inventory management affects the continuity of the production process and improves the quality of service to consumers. Inventory is defined as an asset which includes goods owned by the company and has the potential to be sold within a certain business period in an effort to meet consumer needs at any time. Galvalume raw material inventory for the spandex roof production process often suffers from shortages due to immature planning. The shortage of inventory causes production not to run smoothly. The purpose of inventory management in this paper is to obtain an inventory policy to optimize the total inventory cost. The method used in this study is economic order quantity. Based on the results and discussion. Ordering raw materials will be made 6 times in a year with an order quantity of 116 with a safety stock of 12 units and will be ordered again when the raw materials are in 46 units. Total Inventory Cost (TIC) which was originally IDR 26.350.191,- can be saved to IDR 21.038.827,- so that the total savings that occurred amounted to IDR 5.311.364,- (20,15%).

scholarly journals Analisis Pengendalian Persediaan Bahan Baku dengan Menggunakan Metode EOQ pada PT Sigma Indonesia MFG

JUDICIOUS ◽  
2020 ◽  
Vol 1 (2) ◽  
pp. 102-106
Author(s):  
Elsa Fitriyani ◽  
Matdio Siahaan
Keyword(s):  
Standard Deviation ◽  
Order Quantity ◽  
Microsoft Excel ◽  
Inventory Cost ◽  
Safety Stock ◽  
Total Inventory

Tujuan yang ingin dicapai dalam penelitian ini adalah untuk mengetahui apakah pengendalian persediaan bahan baku pada PT Sigma Indonesia Manufacturing sudah efisien atau belum. Bahan baku utama yang di gunakan PT Sigma Indonesia Manufacturing adalah material STKM diameter 8.0. PT Sigma Indonesia Manufacturing mengolah material STKM diameter 8.0 menjadi barang jadi yaitu Collar 8.0. Masalah yang di hadapi oleh perusahaan dalam kaitannya dengan persediaan bahan baku diantaranya adalah pembelian bahan baku yang optimal, persediaan pengaman, serta total biaya persedian bahan baku. Untuk menjawab permasalahan yang ada, penulis menggunakan metode EOQ (Economical Order Quantity). Analisis ini terdiri dari pembelian bahan baku yang optimal, Safety stock, dan Total Inventory Cost. Perhitungan pembelian bahan baku yang optimal dengan menggunakan metode EOQ (Economical Order Quantity), perhitungan Safety stock dicari hitung dengan menggunakan standard deviation sedangkan Total Inventory Cost dihitung dengan menggunakan Microsoft Excel. Data yang digunakan adalah data pembelian dan pemakaian bahan baku Collar 8.0 selama periode Januari 2016 sampai Desember 2018. Hasil yang didapatkan setelah dilakukan perhitungan EOQ jumlah bahan baku yang ekonomis untuk setiap kali pembelian pada tahun 2016 sejumlah 278 batang , tahun 2017 sejumlah 284 batang , tahun 2018 sejumlah 285 batang. Total Inventory Cost menurut perhitungan EOQ pada tahun 2016 adalah sebesar Rp165.591, tahun 2017 sebesar Rp168.754, tahun 2018 sebesar Rp169.325.Total Inventory Cost yang di keluarkan perusahaan pada tahun 2016 sebesar Rp215.268, tahun 2017 sebesar Rp219.380, tahun 2018 sebesar Rp220.122.

scholarly journals An Optimal Order Quantity Of Spare Parts To Minimize Total Inventory Cost Using Periodic Review Approach (R,s,s) Method In PT. XYZ Bandung

2017 ◽  
Vol 1 (02) ◽  
Author(s):  
Feviana Betsi Purba ◽  
Luciana Andrawina ◽  
Murni Dwi Astuti
Keyword(s):  
Spare Part ◽  
Spare Parts ◽  
Optimal Order ◽  
Periodic Review ◽  
Order Quantity ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Total Saving ◽  
Manufacturing Company ◽  
Total Inventory

The availability of spare parts is very crucial thing for manufacturing company in order to support the continuity of production activities. PT XYZ is a manufacturing company which produces thread into fabric. In this case, inventory control of spare part is not properly managed. Inventory position of spare parts in warehouse is always more than inventory policy of the company itself or called overstock which causes total inventory cost is always high. Company only consider on the order fulfillment of spare parts to prevent downtime on the machine that increase performance of production. Hence, order quantity of spare parts is always excessive or not optimal. In this research, global inventory policy conducted in order to minimize total inventory cost is periodic review approach (R, s, S) method. This inventory policy will be calculated using power approximation and obtained total saving cost of holding cost by 31 % while total saving cost of order cost decreased by 7 %. Overall, total inventory cost minimized by 7 % or equal to Rp138.902.742.

scholarly journals Analysis and Design of Information Systems for Control of Raw Materials in UD. YRS Alumunium Work Using EOQ Method

Tech-E ◽  
2020 ◽  
Vol 4 (1) ◽  
pp. 30
Author(s):  
Assaji Assaji ◽  
Rudy Arijanto
Keyword(s):  
Information Systems ◽  
Raw Materials ◽  
Order Quantity ◽  
Sequence Diagrams ◽  
Inventory Cost ◽  
Safety Stock ◽  
Analysis And Design ◽  
Total Inventory ◽  
Manual Recording ◽  
Class Diagrams

In the current era of globalization, information technology and information systems are developing very fast. YRS Alumunium Work is a furniture company that manufactures cupboards, stove racks, sinks, and especially for storage of household items. The problems currently being faced by businesses, among others; (a) recording still using stationery and books or still using manual recording methods, (b) ineffective stock checking, (c) sudden out of stock, to solve the problem it is proposed to make a system using the web that can be integrated into stock by a calculation method. With UML scenario depiction (activity diagrams, usecase diagrams, class diagrams, sequence diagrams). To check the inventory of goods easily done effectively, know the minimum amount of stock, and must place an order again using the EOQ (Economic Order Quantity) method. By using the eoq method, it takes into account that for bolts to get an economical amount of inventory as much as 522.01 with a safety stock of 21 will place an order again when the stock becomes 50 and the total inventory cost is 110 458.4418.

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 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 Manajemen Persediaan Tepung Terigu dengan Metode Economic Order Quantity (EOQ) pada Perusahaan Roti Nikki Echo Payakumbuh

2018 ◽  
Vol 1 (1) ◽  
pp. 21-27
Author(s):  
Desi Rahma Yani ◽  
Mega Amelia Putri ◽  
John Nefri
Keyword(s):  
Inventory Management ◽  
Production Cost ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Company Policy ◽  
Total Inventory ◽  
A Company

Inventory management has an important role in a company because inventory management can decrease production cost. Economic order quantity using to minimize the production cost. Inventory management of flour in bread company Nikki Echo not been seen clearly prove by  so many booking amount. It can giving addition of cost. The purpose of this research is (1) Analyzing optimal flour stock by using EOQ method in bread company Nikki Echo, (2) Analyzing reorder point raw material inventory by using EOQ method in bread company Nikki Echo, (3) Analyzing total raw material inventory cost by using EOQ method in bread company Nikki Echo. This research be held from February 20 until April 19 2018 in bread company Nikki Echo, Tanjung Pauh, Payakumbuh city, West Sumatera province. Flour stock by using EOQ method as much 17.394 kg it means the amount greater than company policy. That amount increase 79,6% from the amount set by company. Frequency of booking less than company policy that is 7 times booking. Amount of reorder by using EOQ method is 10.251 kg with the inventory lead time for 3 days. Total inventory cost by using EOQ method as many Rp 11.445.513. This value small than total inventory cost issued by company policy. Decreasing cost amount 98% from company policy. That cause by ordering amount reduced 33 times or same with 82,5% from the amount before

scholarly journals ANALISIS KINERJA MANAJEMEN PERSEDIAAN PRODUK UD. SINAR JAYA KARANGASEM

2021 ◽  
Vol 10 (3) ◽  
pp. 270
Author(s):  
I Putu Adi Sanjaya ◽  
Ni Ketut Purnawati
Keyword(s):  
Inventory Management ◽  
Descriptive Analysis ◽  
Safety Stock ◽  
Total Cost ◽  
Inventory Costs ◽  
Actual Application ◽  
Total Inventory ◽  
Operational Activities ◽  
Abc Analysis ◽  
Product Inventory

Inventory plays an important role in the company's operational activities, it is necessary to do inventory management in order to minimize losses caused by the large inventory costs. This research is conducted at UD. Sinar Jaya, aims to determine the performance of product inventory management and whether it’s efficient or not. Research data are obtained through interviews and observations. Descriptive analysis technique is used, which describes systematically several stages starting with ABC analysis, EOQ calculation, safety stock calculation, re-order point calculation, maximum inventory calculation, inventory turnover calculation, and comparing the total inventory cost between the method applied by the company with the EOQ method. Results show that product inventory management performance is not efficient. This is indicated by the total cost of inventory incurred using the company method in 2019 amounting to IDR 43,058,137. The product inventory management system that should be carried out is to classify products with ABC analysis, then determine EOQ of 1,208 units, determine safety stock of 518 units, and determine the re-order point of 1,099 units for each classification at unit A, so that the total cost of inventory incurred is only IDR 32,716,517 or 24.02 % lower than the actual application of company methods. Keywords: ABC analysis, EOQ, inventory costs

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