scholarly journals Inventory Management Evaluation and Inventory Forecast Using EOQ

2021 ◽  
Vol 6 (1) ◽  
pp. 395
Author(s):  
Rorim Panday ◽  
Dovina Navanti
Keyword(s):  
Inventory Management ◽  
Business Strategy ◽  
Fashion Industry ◽  
Substantial Loss ◽  
Management Evaluation ◽  
Eoq Model ◽  
Seasonal Model ◽  
A Company

The fashion industry that is gamis in Indonesia is growing rapidly because the majority of the population is Moslem. Elzatta is a company that does business on Moslem clothing, one of its products is the gamis. The company is experiencing problems with stockpiling in warehouses, because of models that were not sold, as well as outdated models. With the accumulation of products in warehouses in 2017 and 2018, many products will be damaged. For this reason, the company runs a buy one get one business strategy and sells products at low prices. As a result, the company suffered a substantial loss. For this reason, it is necessary to evaluate the inventory management that has been carried out using the EOQ model. For 2019, it is necessary to plan the number of products to be sold and apply the EOQ model. The results of evaluations in 2017 and 2018, by using EOQ the company could save 64.78% for 2017 and 63.40% for 2018. Whereas for 2019, after forecasting the number of sales using the seasonal model, sales projections are similar to the number of sales in the previous years, so that the number of products needed for a single order is 1364 pcs.

Analisis Model Optimasi Manajemen Persediaan dengan Menggunakan Metode EOQ

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Nani Suryani ◽  
Ihda Hasbiyati
Keyword(s):  
Production Process ◽  
Inventory Management ◽  
Optimization Model ◽  
Optimization Method ◽  
Total Cost ◽  
Eoq Model ◽  
Method Optimization ◽  
Cost Of Production ◽  
A Company

Manajemen persediaan adalah meminimumkan total biaya yang berhubungan dengan proses produksi dari suatu perusahaan. Dalam penelitian ini, penulis menganalisis model optimasi manajemen persediaan dengan meggunakan metode EOQ. Model optimasi yang diperoleh dapat digunakan untuk menyelesaikan masalah manajemen persediaan yang tepat untuk semua kondisi dan semua jenis perusahaan.   Inventory management is by means to minimize total cost of production process in a company. In this research, we analyzed optimization model of inventory management by using EOQ method. Optimization method obtained may be used to solve problems in inventory management effectively in every conditions and companies.

ANALYSIS OF THE MANAGEMENT OF MATERIAL AND TECHNICAL ASSETS OF ENTERPRISES

2021 ◽  
Vol 116 (1) ◽  
pp. 293-299
Author(s):  
Aizhan Talgatkyzy Syrkebai
Keyword(s):  
Inventory Management ◽  
Realistic Model ◽  
Process Approach ◽  
Sustainable Competitive Advantage ◽  
Order Quantity ◽  
Specific Product ◽  
Abc Classification ◽  
Eoq Model ◽  
Demand Rate ◽  
Abc Analysis

Variability of demand for goods, depending on their availability and cost is a frequently observed phenomenon in the sphere of production and consumption. This paper discusses the possibility of using the ABC analysis for the inventory management system. This type of analysis makes it possible to apply various methods of inventory management for increasing the income and reducing the costs of particular products for manufacturers. As is known, the management process approach emphasizes the systematic study of management by defining management functions in an organization and then examining each in detail. There is a general agreement on the planning, organizing, and controlling functions. Traditional inventory management systems, such as the Lean Order Quantity (EOQ) model, are based on the assumptions of constant demand rate, constant inventory cost, and instant order. The EOQ assumption of instant order receipt means that the entire order quantity, that is, all units of the purchased lot is immediately received from the supplier. The Economic Production Quantity (EPQ) model weakens this assumption by including incremental order receipt, i.e. debit. In recent years, major advances in the sphere of management include the following elements: process approach management science decision support approach, scientific approach to human resources development, and sustainable competitive advantage. These four approaches complement one another in current practice and provide a useful framework for project management. This paper presents a realistic model of the goods production and their inventory, since ABC analysis or ABC classification is an integral part of materials management. According to this approach, the inventory is divided into three categories depending on income generation. The ABC analysis helps entrepreneurs identify the main types of products in the warehouse, prioritize the goods management based on their cost, and analyze customer demand for a specific product.

scholarly journals El Balance Social como una herramienta válida para representar la Responsabilidad Social en las Empresas Chilenas / The Social Balance as a valid tool to represent the Social Responsibility in the Chilean Companies

Ciencia Unemi ◽  
2015 ◽  
Vol 8 (16) ◽  
pp. 87
Author(s):  
Guido Asencio Gallardo
Keyword(s):  
Social Responsibility ◽  
Business Strategy ◽  
Social Indicators ◽  
The Social ◽  
Practical Tool ◽  
Covered Entity ◽  
Social Balance ◽  
Sociedad Civil ◽  
Corporate Social ◽  
A Company

El concepto de Responsabilidad Social Empresarial (RSE) refleja hoy en día el resurgimiento de valores en la sociedad, además manifiesta la necesidad que tienen las empresas de involucrarse en la sociedad civil a través de sus iniciativas, no tan sólo como generadoras de proyectos aislados que las conecten con su entorno, sino integrándolas como parte de su estrategia empresarial. En este ensayo se presenta la herramienta Balance Social (BS), un tema que tiene sus orígenes en la RSE, modelo adoptado en Chile en el año 1975, desde la primera experiencia registrada en la Asociación Chilena de Seguridad (ACHS). La herramienta toma en cuenta los aspectos sociales que contempla una entidad hacia adentro, los denominados agentes internos, es decir los trabajadores en sus distintos niveles de la organización. Se darán a conocer modelos de Balance Social, por medio de análisis de su diseño e influencia a tomar en consideración y el tipo de empresa en que se aplique. El aporte de este ensayo, es dejar manifiesto que el Balance Social transformaría los tradicionales indicadores sociales que presentan algunas entidades en insumos reales, y a su vez serviría como una herramienta práctica para representar la RSE de una empresa. AbstractThe concept of Corporate Social Responsibility (CSR) today reflects the resurgence of values in society, also expressed the need for companies to engage in civil society through initiatives, not just as isolated projects that generate connection them to their environment but integrating them as part of their business strategy. In this test the Social Balance (BS) tool, an issue that has its origins in the CSR model adopted in Chile in 1975, since the first recorded experience in the Chilean Safety Association (ACHS) presented. The tool takes into account the social aspects covered entity inward-called insiders, i.e., workers at different levels of the organization. They will be released models of Social Balance, through design analysis and influence to consider and type of business in which it applied. The contribution of this paper is to leave clear that the Social Balance transforms traditional social indicators that have some real input entities, and in turn serve as a practical tool to represent a company CSR.

scholarly journals Application of the theory of planned behavior to fraudulent returning

2012 ◽  
Vol 60 (7) ◽  
pp. 379-386 ◽  
Author(s):  
Radoslav Škapa
Keyword(s):  
Theory Of Planned Behavior ◽  
Path Analysis ◽  
Planned Behavior ◽  
Business Strategy ◽  
Total Cost ◽  
Return Policy ◽  
Additional Value ◽  
A Company

Proper return policy provides an additional value for customers and therefore it can be a beneficial instrument in business strategy of a company. However, its efficiency is harmed due to the return fraud that increases the total cost for reprocessing of returned products. The article contributes to the discussion of factors that stimulate and discourage the return fraud in the retail by suggesting a model, which is proposed on the basis of the theory of planned behavior. Path analysis was conducted with the data of 207 respondents to test the validity of the model.

scholarly journals EOQ FOR PERISHABLE GOODS: MODIFICATION OF WILSON’S MODEL FOR FOOD RETAILERS

2019 ◽  
Vol 25 (6) ◽  
pp. 1413-1432 ◽  
Author(s):  
Shouzhen Zeng ◽  
Oleksandr Nestorenko ◽  
Tetyana Nestorenko ◽  
Mangirdas Morkūnas ◽  
Artiom Volkov ◽  
...  
Keyword(s):  
Inventory Management ◽  
Process Management ◽  
Consumer Demand ◽  
Focal Point ◽  
Perishable Goods ◽  
Food Retailers ◽  
Retail Business ◽  
Proposed Model ◽  
Timely Response ◽  
A Company

A timely response to a fluctuating and ever-changing consumer demand is an important decision for a company, as it may impact its position in the market. Thus, proper inventory management becomes a focal point in retail business process management and can provide a substantial competitive advantage. In this paper, we introduce a modified version of Wilson’s model, which takes into account trends in consumer demand and offer flexibility in reordering time. The illustration of the proposed model is presented, showing the significant economic benefit under particular conditions.

scholarly journals Strategic positioning of EAP in South African workplaces

2003 ◽  
Vol 3 (1) ◽  
Author(s):  
M. G. Matlhape
Keyword(s):  
South Africa ◽  
South African ◽  
Business Strategy ◽  
Employee Satisfaction ◽  
Business Processes ◽  
Chain Model ◽  
Employee Assistance ◽  
Strategic Positioning ◽  
And Performance ◽  
A Company

Two phenomena are having a profound effect on management and industry in the 21st century. The first one is the increasing rate and depth of competition locally, regionally, and globally, and the consequent increase in focus on achieving competitiveness by companies. The second phenomenon is the increasing appreciation of the importance of employees in assisting the company to gain a competitive advantage over its competitors. Employee Assistance Programmes have been used as part of the business strategy to enhance employee functioning, loyalty, and performance in organisations around the world for a good part of the 20th century. In South Africa this service did not gain much momentum until the 1980. Despite the growth of EAP in South Africa, however, in most cases it still remains on the periphery of real business activities and is often regarded as a "nice to have" rather than as a business imperative. The location of EAP within a company is very important in determining its impact within the organisation. Because of EAPs capacity to impact on both individual employees and the organisation as its primary client, it has potential to make a great impact in organisations' business processes, where these interface with individual output and wellbeing. A service-profit-chain model was introduced as a link between employee satisfaction and company profitability. This article gives an in-depth focus on EAP and the important role it can play in achieving employee satisfaction.

scholarly journals Pengaruh ukuran perusahaan dan leverage terhadap nilai perusahaan dengan profitabilitas sebagai variabel moderasi

2021 ◽  
Vol 8 (2) ◽  
Author(s):  
Siwi Nur Khotimah ◽  
Rita Indah Mustikowati ◽  
Ati Retna Sari
Keyword(s):  
Business Strategy ◽  
Firm Value ◽  
Sampling Method ◽  
Stock Exchange ◽  
Company Size ◽  
Company Value ◽  
Property Companies ◽  
Negative Effect ◽  
Independent Variable ◽  
A Company

This study aims to examine and explain the effect of company size and leverage on firm value with profitability as a moderating variable in Real Estate and Property companies listed on the Indonesia Stock Exchange in the period 2016-2018. This type of research is explanatory research, testing classical assumptions, and analyzed using a moderated regression analysis, and using the t test. The number of samples is 32 companies, and the sampling method used is purposive sampling. This research variable consists of company size and leverage as an independent variable, company value as the dependent variable, and profitability as a moderating variable. The analysis showed that partially company size and leverage had no significant effect on firm value, profitability had a negative effect on firm value and profitability weakened the effect of company size on firm value and profitability strengthened the effect of leverage on firm value. In this study, it can provide implications for a company to consider factors of company size, leverage, and profitability, and can also be used as a reference by other companies in business strategy, understand aspects of the industry they are involved in, and pay more attention to the development of the environment that can affect the company's business so that it can increase the value of the company.

scholarly journals Stages of Using Ward and Peppard Methods in Information System Strategic Planning

2021 ◽  
Vol 3 (1) ◽  
pp. 78-86
Author(s):  
Anggy Giri Prawiyogi ◽  
Aang Solahudin Anwar
Keyword(s):  
Strategic Planning ◽  
Information Management ◽  
Business Strategy ◽  
Management Process ◽  
It Infrastructure ◽  
Work Efficiency ◽  
Process Automation ◽  
Doing Business ◽  
The Right ◽  
A Company

In an organization, there are three main targets for the application of information systems and information techniques that will be applied. In the information management process, automation is needed. This will help work efficiency. It is necessary to fulfill the need for information that will be used in decision making in management to increase effectiveness. There needs to be a change in the style and way of doing business in the company in order to increase competitiveness with competing companies. The goals or goals of a company and strategies in IT will enable us to achieve the 3 targets above, therefore it is necessary to have the right organizational business strategy that leads to the company's goals, as well as support that comes from designing IT infrastructure that is in accordance with the organization's business strategy in IT strategy.An understanding of the organization's business strategy needs to be mastered in order to be able to develop an appropriate IT strategy so that it can be a supporter of achieving the company's vision and mission. The ward and peppard methodologies will be used in the explanation of the following IT/IS strategic planning stages.  

scholarly journals A Thought on Applicability of Sun Tzu’s Strategy on Marketing Strategy

2020 ◽  
Vol 2 (1) ◽  
pp. 38
Author(s):  
Fenny Widyani Hartanto ◽  
Maria Yoshephine Dwi Hayu Agustini
Keyword(s):  
Marketing Strategy ◽  
Business Strategy ◽  
Military Strategy ◽  
Sun Tzu ◽  
Art Of War ◽  
Chinese Military ◽  
The Military ◽  
A Company

Sun Tzu’s strategy is actually an art of war used by Chinese military under Sun Tzu to win the war. Its application has been widespread beyond the military strategy. It has also been adopted for business strategy. This manuscript is to examine applicability of Sun Tzu’s strategy on marketing. In particularly it examines if Sun Tzu’s strategy can be applied as marketing strategy. Review manuscripts in related topics and a case study on a company are the method for the examination. The result indicates that Sun Tzu’s strategy is applicable in marketing and can be related with specific marketing terms.

Methodics to Create Effective Inventory Management System in a Company

2014 ◽  
Vol 708 ◽  
pp. 245-250 ◽  
Author(s):  
Martin Hart ◽  
Miroslav Musil ◽  
Pavel Taraba
Keyword(s):  
Supply Chains ◽  
Inventory Management ◽  
Management System ◽  
Logistics Management ◽  
Management Systems ◽  
Global Markets ◽  
Industrial Companies ◽  
Inventory Management System ◽  
Business Conditions ◽  
A Company

Pursuant to the statistics data of Eurostat, the economy of European Union is slowly recovering from year lasting recession. The gross domestic product volume increased in 2nd quarter of the year 2013 by 0.3%. The industrial companies in EU are nevertheless facing still increasing competitiveness as the European and global markets are developing under current business conditions. To be successful within the frame of current supply chains the companies must have well-developed logistics management systems to effectively treat with flows streaming in their inner or outer supply chains. One of the main elements of company logistics management systems is inventory management subsystem to plan, to manage and to control particular stock items. In the paper it is briefly described the methodics to design effective inventory management system whether in industrial or service company.

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