APPLICATION OF THE PDCA MODEL AND MODIFICATIONS OF THE ABC-XYZ ANALYSIS IN PRODUCTION INVENTORY MANAGEMENT

2021 ◽  
Vol 4 (5) ◽  
pp. 12-23
Author(s):  
N. M. BAKLAEVA ◽  
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Just In Time ◽  
Analysis Model ◽  
Production Inventory ◽  
Inventory Turnover ◽  
Abc Analysis ◽  
Proposed Modification ◽  
Analysis Models ◽  
A Company

The article discusses the possibility of using a process approach in managing the company's inventory based on the Shewhart-Deming cycle (PDCA model), as well as identifies modern problems of using ABC-analysis and XYZ-analysis models in practice, and proposes the introduction of a modified ABC-XYZ analysis model. The results of the study showed that the development of an inventory management policy in a company based on the PDCA model with the use of the proposed modification of the ABC-XYZ analysis will make it possible to systematize the processes of warehousing and supply of stocks using the «Just-in-Time» method, minimize warehouse costs by reducing the volume of stock, reduce the volume of illiquid inventory, improve customer satisfaction, accelerate inventory turnover.

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 THE FORMATION AND EFFECTIVE USE OF INVENTORIES BY ENTERPRISES

2021 ◽  
pp. 81-92
Author(s):  
Svitlana Koshelenko
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Foreign Firms ◽  
Main Trend ◽  
Just In Time ◽  
Modern Approach ◽  
Doing Business ◽  
The Subject ◽  
Direct Delivery ◽  
Effective Use

The article considers the issues of formation and effective use of inventories by enterprises. It is confirmed that the subject of the inventory management policy consists of two main blocks: the inventory formation policy and the inventory use management policy. Inventory formation management occurs by applying inventory management models. Inventory use management performed by means of indicator calculations of reserves effective use. Inventories are grouped and classified according to the most important features. Inventory management tasks and exiting models is carried out, which takes into account the classic and modern approach to doing business. It is proved that the concepts previously used fail to justify themselves in the new conditions. It is established that most companies in the world improve the efficiency of inventory management as follows: rationalization of processes between companies, shifting ownership of inventory towards suppliers (implementation of the principle of “inventory managed by supplier”), direct delivery of finished products to the consumer in accordance with his wishes and financial capabilities, inventory management using the principle of “just in time”, introduction of flexible (lean) production, etc. Thus, the main trend of foreign firms, in contrast to domestic ones, is the spread of the concept of inventory minimization. Nine provisions (theses) have been formulated for the methodology of forming various for managing inventory values of an enterprise.

scholarly journals AN OVERVIEW ABOUT JIT (JUST-IN-TIME) - INVENTORY MANAGEMENT SYSTEM

2017 ◽  
Vol 5 (4(SE)) ◽  
pp. 14-18
Author(s):  
C. Eugine Franco ◽  
S. Rubha
Keyword(s):  
Inventory Management ◽  
Raw Materials ◽  
Collective Responsibility ◽  
Just In Time ◽  
Collective Decision Making ◽  
Control Mechanisms ◽  
Lifetime Employment ◽  
Inventory Management System ◽  
Manufacturing Organizations ◽  
A Company

A stock out is undesirable for manufacturers because it halts the production process. An inventory is the stock of ideal resources in a firm for future use. Manufacturing organizations typically have raw materials, components, sub-assemblies, tools and equipment’s; semi-finished goods etc., the inventory of an item should not be neither too high nor too less. It should be optimal. The recent development in inventory management is JIT (Just-in-Time). JIT implies handling of inventory in a much disciplined way. It requires changes in culture. It also encompasses the Japanese managerial characteristics i.e., Lifetime employment, implicit control mechanisms, collective decision making, collective responsibility and holistic concern for employees. JIT applies to all functions of a company not just the operations.

scholarly journals A Comparison of Business Management Characteristics in U.S., German, and Japanese Manufacturing Corporations

2019 ◽  
Vol 14 (1) ◽  
pp. 141-153
Author(s):  
Gulser Meric ◽  
Berrin Guner ◽  
Shifei Chung ◽  
Ilhan Meric
Keyword(s):  
Inventory Management ◽  
Manufacturing Firms ◽  
Just In Time ◽  
Turnover Rates ◽  
Bankruptcy Risk ◽  
Corporate Managers ◽  
Operating Profit ◽  
Accounts Payable ◽  
Inventory Turnover ◽  
Global Investors

AbstractComparing the management characteristics of business firms in different countries has been a popular research topic in business administration. In this paper, we compare the management characteristics of U.S., German, and Japanese manufacturing corporations. The findings of our study can provide valuable insights for corporate managers and global investors. We find that U.S. manufacturing corporations have the lowest liquidity risk (i.e., U.S. manufacturing firms have higher liquidity levels) compared with German and Japanese manufacturing corporations. German manufacturing corporations have the highest bankruptcy risk (i.e., German manufacturing firms have higher liability levels) compared with U.S. and Japanese manufacturing corporations. The average collection period of accounts receivable and the average payment period of accounts payable are significantly shorter in U.S. manufacturing corporations compared with their German and Japanese counterparts. Due to the extensive use of the just-in-time inventory management system in Japanese Keiretsu industry groupings, Japanese manufacturing corporations have higher inventory turnover rates (i.e., Japanese manufacturing corporations carry lower inventory levels) compared with U.S. and German manufacturing corporations. U.S. manufacturing corporations are able to earn higher operating profit margins compared with their German and Japanese counterparts because they are able to charge higher product prices to customers and/or they are able to have lower manufacturing costs. Japanese manufacturing corporations have the lowest annual sales and total assets growth rates compared with U.S. and German manufacturing corporations.

ANALISA PENGENDALIAN PERSEDIAAN GUDANG BARANG JADI DENGAN ANALISA ABC PADA PERUSAHAAN CAT PT. PR

2019 ◽  
Vol 4 (1) ◽  
pp. 63
Author(s):  
Dian Friana Hidayat ◽  
Ossa Sutaarga ◽  
Akhmad Fakhrurozi
Keyword(s):  
Data Collection ◽  
Data Processing ◽  
Inventory Control ◽  
Inventory Management ◽  
Research Method ◽  
Abc Classification ◽  
Total Product ◽  
Collection Data ◽  
Abc Analysis ◽  
A Company

This research was conducted at a company that produces paints such as wall paint, tile paint, floor paint, steel construction paint and many other types of paint. In addition to these types of paint, color and size are additional factors that cause high product variants. Inventory management with ABC analysis is very necessary to control a number of inventories by taking into account the value of the investment. Based on company conditions and literature, the purpose of this study is to be able to classify inventory in the company and be able to determine inventory control based on ABC classification. The research method is divided into four stages, namely data formulation, data collection, data processing, and analysis and conclusions. Data processed is in 2016, available product variants are 941 items with a total product value of Rp 15,477,094,182.00. The results of ABC analysis are 124 product items or 13.18% A class, 211 product items or 22.42% B class, and 606 product items or 64.40% C class of the total number of products available.Key words :  Paint, Inventory Control, ABC Classification

scholarly journals Multiple Criteria ABC Analysis with FCM Clustering

2013 ◽  
Vol 2013 ◽  
pp. 1-7 ◽  
Author(s):  
Gulsen Aydin Keskin ◽  
Coskun Ozkan
Keyword(s):  
Inventory Management ◽  
Classical Method ◽  
Unit Price ◽  
Management Policy ◽  
Analysis Problem ◽  
Fuzzy C Means ◽  
Fcm Clustering ◽  
Group A ◽  
Abc Analysis ◽  
Group B

The number of stock keeping units (SKUs) possessed by organizations can easily reach quite a few. An inventory management policy for each individual SKU is not economical to design. ABC analysis is one of the conventionally used approaches to classify SKUs. In the classical method, the SKUs are ranked with respect to the descending order of the annual dollar usage, which is the product of unit price and annual demand. The few of the SKUs that have the highest annual dollar usage are in group A and should be taken into account mostly; the SKUs with the least annual dollar usage are in group C and should be taken into account least; the remaining SKUs are in group B. In this study, we proposed fuzzy c-means (FCM) clustering to a multicriteria ABC analysis problem to help managers to make better decision under fuzzy circumstancse. The obtained results show that the FCM is a quite simple and an easily adaptable method to inventory management.

scholarly journals SISTEM INFORMASI PERSEDIAAN BARANG BERBASIS DEKSTOP PADA PT. ULTRA SAKTI

2019 ◽  
Vol 4 (02) ◽  
pp. 111-119
Author(s):  
Eni Pudjiarti ◽  
Eka Puspitasari ◽  
Aprillia Ananda Septyawati
Keyword(s):  
Information System ◽  
System Design ◽  
Inventory Management ◽  
Human Error ◽  
Inventory System ◽  
Inventory Data ◽  
Information System Design ◽  
Work Activities ◽  
Inventory Turnover ◽  
A Company

Inventory is very important in work activities or in a business entity, because inventory can be a benchmark of performance and cash flow of a company. If there is too much inventory turnover is not good, and vice versa if there is too little inventory it can hamper work activities, resulting in low yields and will affect the company's income. Because at PT Ultra Sakti, ATK Goods Inventory Management is still manual. Which causes the management and presentation of inventory data can be ineffective and inefficient, because it is very easy to make mistakes (Human Error) this results in the inventory process will be very bad, because it could be an excess or even a shortage of inventory processes. Therefore, the authors try to make an inventory system in order to help PT. Ultra Sakti in carrying out work activities to be more efficient and effective, in the presentation of data and data management. So that mistakes can be minimized. And the presentation of data can be utilized properly.     Keywords— Information System Design, Inventory System

ANALISIS MODEL KEBUTUHAN PERGERAKAN PENUMPANG DAN BARANG BANDARA RAHADI OESMAN KETAPANG

2012 ◽  
Vol 10 (1) ◽  
Author(s):  
. Elsa Trimukti
Keyword(s):  
Growth Rate ◽  
Trend Analysis ◽  
Polynomial Regression ◽  
Air Transport ◽  
Trip Generation ◽  
Analysis Model ◽  
Exponential Regression ◽  
Share Model ◽  
Strategic Role ◽  
Analysis Models

Airport of Rahadi Oesman in Kabupaten Ketapang Kalimantan Barat represent the main and important gate for air transport in Kabupaten Ketapang, where this airport own the strategic role in service activities of this transportation even for domestic transportation or regional. Activity in Airport of Rahadi Oesman in a few this the last year has growth so fast growth, so that felt the infrastructure and also available facility in this time have is not adequate again to support the growth rate of air traffic in this airport. In the plan development of facility of air side and also land side of the airport require to be conducted an analysis model of trip generation or attraction of passenger and goods. These models need for the prediction of mount the growth of passenger and goods/cargo and estimate the amount of passenger and aircraft movement in the future pursuant to aircraft characteristic that to be used. The models used for prediction of passenger and goods in this study are Trend Analysis Models consisted of linear regression trend method, exponential regression trend method, and polynomial regression trend method. Besides model of trend analysis, in this study also analyzed Market Share Model. Result from third model then compared to one another to obtain the most appropriate model. Pursuant to analyses result obtained that the best or most appropriate model is Model of Trend Analysis.Model for the attraction passenger is Y = 21,18X2+ 6181X + 5788 by R2= 0,922.Model for the generation passenger is Y = 128,3X2+ 7515X + 4965 by R2= 0,907.Model for the passenger of transit is Y = 795X2+ 561X + 3361 by R2= 1Model for the cargo movement is Y = 2468X2+ 41054X 28341 by R2= 0,918.

Parameter values for lot size and quality level via CAE simulation, statistical method, and mathematical programming

2021 ◽  
pp. 095440542093787
Author(s):  
Angus Jeang ◽  
Chien-Ping Chung
Keyword(s):  
Inventory Management ◽  
Quality Level ◽  
Response Functions ◽  
Lot Size ◽  
Optimal Process ◽  
Production Inventory ◽  
Production Quantity ◽  
Parameter Values ◽  
Back Order ◽  
Order Intervals

Because of the stochastic nature of production systems, it is necessary to first build an uncertainty model for subsequent real applications. Moreover, process parameter planning, quality design, and production inventory management are interdependent elements. In this research, a computer simulation model via computer-aided engineering (CAE) was developed to determine the optimal process parameters, lot size, and back order intervals for an integrated process design and inventory management system with simultaneous quality and cost considerations. Based on the estimated process time and costs obtained using CAE, the derived production rate and unit cost were then used for production inventory applications. In consideration of the uncertainty factor, the response surface method (RSM) was employed to analyze the output, namely the total costs incurred in employing the proposed approach, as well as the inputs, which include the cutting parameters, production quantity, and back order intervals. After the RSM was used to obtain the response functions, which represent the output of the collective interests, the mathematical programming (MP) was formulated based on the response functions to determine the optimal process parameters, process quality levels, production order quantities, and back order intervals. The total cost per set time unit was minimized by determining the required quality level, process parameter values, Economic Production Quantity (EPQ), and back order intervals. A cutting example was chosen to demonstrate the proposed approach. Two cases were used for comparison: the Integrated Case (the proposed approach herein) and the Disintegrated Case.

Midsurface Abstraction From 3D Solid Models for Engineering Analysis

1996 ◽  
Author(s):  
Mohsen Rezayat
Keyword(s):  
Feature Recognition ◽  
Analysis Model ◽  
Thin Sections ◽  
New Approach ◽  
Solid Models ◽  
Product And Process ◽  
Plastic Parts ◽  
3D Solid ◽  
User Friendly ◽  
Analysis Models

Abstract An integral part of implementing parallel product and process designs is simulation through numerical analysis. This simulation-driven design requires discretization of the 3D part in an appropriate manner. If the part is thin or has thin sections (e.g., plastic parts), then an analysis model with reduced dimensionality may be more accurate and economical than a standard 3D model. In addition, substantial simplification of some details in the design geometry may be beneficial and desirable in the analysis model. Unfortunately, the majority of CAD systems do not provide the means for abstraction of appropriate analysis models. In this paper we present a new approach, based on midsurface abstraction, which holds significant promise in simplifying simulation-driven design. The method is user-friendly because very little interaction is required to guide the software in its automatic creation of the desired analysis model. It is also robust because it handles typical parts with complex and interacting features. Application of the method for feature recognition and abstraction is also briefly discussed.

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