scholarly journals Técnicas de administración de los inventarios que usan las microempresas en Salvatierra, Gto., Pueblo Mágico

2020 ◽  
pp. 16-21
Author(s):  
Marcela Espinosa-Rodríguez ◽  
Ana Luisa Olvera-Montoya
Keyword(s):  
Inventory Management ◽  
Random Sampling ◽  
Management Practices ◽  
Descriptive Analysis ◽  
Economic Order Quantity ◽  
Level Of Service ◽  
Just In Time ◽  
Order Quantity ◽  
The City ◽  
Micro Enterprises

The inventory for organizations is important because it represents a considerable monetary investment. In the present investigation, the techniques used by microenterprises in this area are evaluated, making a descriptive investigation to identify their inventory management practices. Therefore, the objective of the investigation is to evaluate the inventory techniques that the micro enterprises of the city of Salvatierra use, other than being a Magic Town, the level of service they provide is associated with the inventory that the micro enterprises have at a given time to be able to meet the needs of customers, and thus provide a service that maintains the appointment. First, an instrument is developed that contains a series of issues related to ABC techniques, economic order quantity and just in time. The instrument makes use of a Likert scale to facilitate its analysis. Subsequently, it is applied to microenterprises using random sampling, having previously identified that they correspond to the micro sector, finally, a descriptive analysis is carried out, which shows the techniques they use within the administration of inventories, of such so that it is known how microenterprises work in the city of Salvatierra.

JIT Inventory Management Strategy

2019 ◽  
pp. 57-74 ◽  
Author(s):  
Alan D. Smith
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Management Strategy ◽  
Economic Order Quantity ◽  
Just In Time ◽  
Order Quantity ◽  
Business World ◽  
Safety Stock ◽  
Operating Process ◽  
Strategic Approach

Implementing a just-in-time (JIT) inventory management strategy seems to be the latest hot topic in the business world, particularly in manufacturing industries. In today's competitive supply chain environment, more and more companies are either adopting JIT methodology or at least beginning to research and understand how JIT would affect their business. But what exactly is JIT? Many companies may be already putting into practice some of the concepts of JIT – such as looking at always improving or trying to reduce waste in terms of product or labor steps. Some companies may be fully ready to embrace a JIT operating process; yet, perhaps JIT is not the best choice for their business. The goal of this chapter is to develop a better understanding of JIT, from this history behind its inception to the various risks and benefits that relate to adopting JIT from an interdisciplinary/strategic approach to a transdisciplinary viewpoint. Those strategies, which include the basic methods of minimum stock, economic order quantity (EOQ), and Safety stock methods, are explored and explained in this chapter.

scholarly journals Inventory Management Practices and Organization Performance of Steel Industries in Nairobi County, Kenya

2019 ◽  
Vol 3 (III) ◽  
pp. 71-82
Author(s):  
Elsa Atieno Okumu ◽  
Shadrack Bett
Keyword(s):  
Data Collection ◽  
Inventory Management ◽  
Steel Industry ◽  
Management Practices ◽  
Manufacturing Firms ◽  
Economic Order Quantity ◽  
Organization Performance ◽  
Order Quantity ◽  
Steel Manufacturing ◽  
Steel Industries

Industries are key to many economies they are used as a proxy for country’s economic growth and development. The steel industry constitutes about 15% of the aggregate production by manufacturing firms hence it plays a key role in the performance of a country’s GDP and many are forecasting that its demand will continue to rise due to various development activities the national government and private firms have embarked on towards realisation of the country’s vision 2030. Inventory management is critical in the aspects of organization performance within the context of steel industries therefore steel companies must check on their inventory management practices in order not to impact on their Organization performance. This is achievable through operation at absolute minimum stock out events with prompt response to market fluctuations while at the same time carrying minimal buffer stocks. The study sought to fill the existent literature gap in the area of inventory management and organization performance in the steel industry. Descriptive research design was used in the study. The target population for this study were employees in the, Quality, administration, sales and marketing, production departments of three steel companies in Nairobi County Kenya. The study employed both primary and secondary during the stages of data collection where questionnaires were administered through drop and pick method while secondary data was obtained from the firms published comprehensive profit and loss statement particularly the company’s sales.  A sample size of 45 respondents was utilized. The pilot study was conducted using a pretest of the questioner using 10% of the respondents that is 5 respondents. The validity of the data collection instrument was examined during the pilot study using a set of experts in the area inventory management as well as the supervisors. The reliability of the data collection was examined through the use of the cronbach alpha coefficient of a threshold of 0.7 and above. The researcher used descriptive method as well as SPSS. V.23 to analyse data. The research established that there is a positive and significant correlation between Economic order quantity and organization performance of steel manufacturing companies in Nairobi County. The study also found a significant positive correlation between Material/Inventory control and organization performance. It also established an existence of a positive and significant correlation between quality control and organizational performance. However, the study found a negative correlation between Legislation and organization performance. The study concludes that organization performance among steel firms in Nairobi County is influenced by Economic order quantity, material/inventory control and quality control. The study therefore recommends that the stakeholders should consider these factors in order to improve the performance of steel manufacturing firms as well as developing policies to protect local steel manufacturing firms from stiff completion from firms in developed countries particularly from China and U.S.A.

INVENTORY MANAGEMENT PRACTICES AND FINANCIAL PERFORMANCE OF LARGE MANUFACTURING FIRMS IN KENYA (A CASE STUDY OF BATA SHOE KENYA PLC)

2019 ◽  
Vol 10 (2) ◽  
pp. 309-328
Author(s):  
Michael Antony Mudimba ◽  
Jacinta Muthee Nyawira
Keyword(s):  
Financial Performance ◽  
Inventory Management ◽  
Management Practices ◽  
Manufacturing Firms ◽  
Economic Order Quantity ◽  
Management Systems ◽  
Order Quantity ◽  
Inventory Planning ◽  
Cycle Model

The study was purposed to determine the effect of Inventory management practices and financial performance in large manufacturing firms in Kenya. The research was conducted with the following four aims: To examine the degree at which inventory management systems influence financial performance; to establish the degree at which inventory planning influences financial performance in large manufacturing firms and to assess the degree at which inventory modeling influences financial performance in large manufacturing firms. Also, the research was directed by Economic Order Quantity, Collaborative Planning, Forecasting and Replenishment Model, Deming Cycle Model, transaction of cost economics (TCE). The findings of the study show that all firms need to adopt inventory management practices so as to enjoy the advantages. Thus, the existence of inventory management practices is one of the ways for attaining improvements in their financial performance.

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 PERENCANAAN DAN PENGENDALIAN PERSEDIAAN BAHAN BAKU PAIL CAT MENGGUNAKAN METODE MATERIAL REQUIRMENT PLANNING (MRP) PADA PT. XYZ

JUMINTEN ◽  
2020 ◽  
Vol 1 (4) ◽  
pp. 163-172
Author(s):  
Vify Elviana ◽  
Akmal Suryadi
Keyword(s):  
Inventory Management ◽  
Consumer Demand ◽  
Raw Materials ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Material Requirements Planning ◽  
Total Cost ◽  
Material Requirements

Persediaan merupakan aset perusahaan yang memiliki peran penting dalam operasi bisnis, sehingga perusahaan penting untuk melakukan manajemen persediaan yang baik, artinya perusahaan harus mampu mengantisipasi kendala maupun tantangan yang ada dalam pengelolahan persediaan untuk meminimalisasi total biaya yang harus dikeluarkan oleh perusahaan. Permasalahan yang timbul pada persediaan bahan baku di PT XYZ adalah perusahaan melakukan perencanaan dan pengendalian bahan baku hanya berdasarkan pada pengalaman-pengalaman sebelumnya dan tidak berdasarkan pada metode yang sudah baku. Oleh karena itu pembelian bahan baku tidak sesuai dengan permintaan konsumen. Hal tersebut sering menyebabkan terjadinya kelebihan maupun kekurangan stok bahan baku. Kesalahan dalam penentuan besarnya investasi dalam persediaan akan mengurangi keuntungan perusahaan. Adanya persediaan bahan baku yang terlalu besar, akan menambah beban biaya pemeliharaan dan penyimpanan dalam gudang, serta kemungkinan terjadinya penurunan kualitas bahan baku yang dapat menyebabkan berkurangnya keuntungan perusahaan. Namun jika persediaan bahan baku terlalu sedikit maka akan berakibat pada terhambatnya proses produksi, sehingga tidak terpenuhinya permintaan konsumen. Hasil penelitian ini dapat menyimpulkan bahwa perencanaan kebutuhan bahan baku dengan metode perusahaan didapatkan total cost sebesar Rp 1.796.762.429,-, sedangkan metode Material Requirements Planning (MRP) didapatkan total cost sebesar Rp 1.576.011.801,-. Maka dapat disimpulkan telah terjadi penurunan total cost seluruh bahan baku sebesar 12,28%. Hal ini membuktikan bahwa metode Material Requirements Planning (MRP) lebih efisien daripada metode PT. XYZ. Oleh karena itu untuk mendapatkan total cost yang minimum, metode Material Requirements Planning (MRP) diterapkan pada periode Februari-Juni 2020 sehingga didapatkan total cost sebesar Rp 1.576.011.801,-. Kata Kunci:         Material Requirements Planning (MRP), PT XYZ, Pail Cat, Economic Order Quantity (EOQ), Period Order Quantity (POQ), Lot For Lot (LFL). ABSTRACT                     Inventory is a company asset that has an important role in business operations, so the company is important to conduct good inventory management, meaning that the company must be able to anticipate obstacles and challenges that exist in managing inventory to minimize the total cost to be incurred by the company.The problem that arises in the supply of raw materials in PT XYZ is that the company plans and controls raw materials based only on previous experiences and not based on established methods. Therefore, the purchase of raw materials is not in accordance with consumer demand. This often leads to excess or shortage of raw material stock. Mistakes in determining the amount of investment in inventories will reduce company profits. The availability of raw materials that are too large, will add to the burden of maintenance and storage costs in the warehouse, as well as the possibility of a decline in the quality of raw materials that can lead to reduced company profits. However, if the supply of raw materials is too little, it will result in obstruction of the production process, so that consumer demand is not fulfilled. The results of this study can conclude that the planning of raw material needs by the company method obtained a total cost of Rp 1,796,762,429, - while the Material Requirements Planning (MRP) method obtained a total cost of Rp 1,576,011,801, -. Then it can be concluded that there has been a decrease in the total cost of all raw materials by 12.28%. This proves that the Material Requirements Planning (MRP) method is more efficient than the PT. XYZ. Therefore, to get the minimum total cost, the Material Requirements Planning (MRP) method was applied in the February-June 2020 period so that a total cost of Rp 1,576,011,801 was obtained.   KeyWords: Material Requirements Planning (MRP), PT XYZ, Pail Cat, Economic Order Quantity (EOQ), Period Order Quantity (POQ), Lot for Lot (LFL).

Analisis Pengendalian Persediaan Barang Pupuk Dengan Metode Economic Order Quality Pada Perusahaan Maju Mapan

2021 ◽  
Vol 2 (1) ◽  
pp. 7-14
Author(s):  
Dini Fitriani
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Sales Process ◽  
Main Activity ◽  
A Company

The Maju Mapan Company is a company engaged in trading, whose main activity is selling fertilizer types. In carrying out sales activities, it is closely related to merchandise inventory which is an important component that must be available for the smooth running of the sales process. This study aims to determine the quantity of economical fertilizer merchandise inventory using the Economic Order Quantity method. From the results of calculations that have been done by comparing the current trading goods inventory management policy in the company with the EOQ method in the procurement of merchandise, it can be concluded that by using the EOQ method, the quantity of EOQ orders is higher than the order according to the company, but if the company uses the method EOQ, the company will save an inventory cost of Rp. 48,546,480

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

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