Comparative Evaluation of Economic Order Quantity and Modeling Technique for Inventory Control – A Case Study

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.

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Sistem Informasi Pengendalian Persediaan Barang Menggunakan Metode Economic Order Quantity (EOQ)

IJAcc ◽

10.33050/jakbi.v1i2.1414 ◽

2020 ◽

Vol 1 (2) ◽

pp. 132-139

Author(s):

Erna Astriyani ◽

Desy Apriani ◽

Meri Mayang Sari

Keyword(s):

Control System ◽

System Design ◽

Inventory Control ◽

Economic Order Quantity ◽

Economic Order ◽

Control System Design ◽

Order Quantity ◽

Microsoft Excel ◽

Total Cost ◽

Control Information

The system that is currently running in recording inventory at PT Berlina Tbk Tangerang is considered ineffective and efficient because it still uses paper and the process of inputting and recapping goods data is semi-computerized in Microsoft Excel. which causes problems, namely too much stock of goods so that it increases the load in the warehouse and too little stock of goods which results in an exhaustion of stock in the warehouse. To solve this problem, we need an inventory control information system. The method of analysis uses the EOQ (Economic Order Quantity) method. For the system design process using sublime as the writing language and programming PHP, and XAMPP as localhost, the database uses MySQL. This study aims to design an inventory control system in the HRD department at PT Berlina Tbk Tangerang, and to make it easier for the HRD Department to input and create inventory reports. With this research, it can produce an inventory control system design that is more effective and efficient and can find out the storage costs in the warehouse. From the calculation of the EOQ method, it is found that it is 20% smaller than the previous storage and the total cost of ordering in a year is 2x orders. Thus, it means that there is a very real difference between the inventory policies implemented by the company and the EOQ method.

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ANALISIS PENGENDALIAN PERSEDIAAN BAHAN BAKU PADA UD. MIE STEVEN KAROMBASAN KOTA MANADO

AGRI-SOSIOEKONOMI ◽

10.35791/agrsosek.13.3a.2017.18200 ◽

2017 ◽

Vol 13 (3A) ◽

pp. 251

Author(s):

Megawati ., Sengkeunaung ◽

Tommy F. Lolowang ◽

Nordy F.L. Waney

Keyword(s):

Inventory Control ◽

Secondary Data ◽

Raw Material ◽

Economic Order Quantity ◽

Economic Order ◽

Primary Data ◽

The Internet ◽

Order Quantity ◽

Inventory Cost ◽

Total Cost

This research aims to analyze raw material inventory at UD. Mie Steven. This research was conducted for four months from January to April 2017. The data used in this research are primary and secondary data. Primary data obtained through interviews with the company, while secondary data obtained from data that has been compiled in the form of documents from the company, data from BPS, previous research or from the internet. The data is processed using EOQ (Economic Order Quantity) method. The result of the research is known that the policy of raw material inventory control is done by UD. Mie Steven is not efficient yet. This is shown by the company's inventory cost is bigger than the result of analysis using EOQ method is 6,693 Kg with total cost of economical inventory Rp.11.325.500.

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ABC ANALYSIS, FORECASTING AND ECONOMIC ORDER QUANTITY (EOQ) IMPLEMENTATION TO IMPROVE SMOOTH OPERATION PROCESS

Dinasti International Journal of Education Management And Social Science ◽

10.31933/dijemss.v1i3.149 ◽

2020 ◽

Vol 1 (3) ◽

pp. 319-325

Author(s):

Thukas Shilul Imarah ◽

Roni Jaelani

Keyword(s):

Inventory Control ◽

Fast Moving ◽

Data Accuracy ◽

Economic Order Quantity ◽

Economic Order ◽

Order Quantity ◽

Trading Company ◽

Operation Process ◽

Operational Activities ◽

Abc Analysis

The study aims to test the effectiveness of the implementation of several inventory control methods to improve the smooth operation in a trading company of industrial equipements components that have difficulty in maintaining inventory data accuracy, inventory shortages and in other hand excess unrequired inventory. The research data used is taken from the ERP report data and manual reports created by the perpetrators of the operational activities of the Inventory Control for the period 2016 - 2018. The sampling method used is purposive sampling of the product sales data in years 2016 – 2018 as much as 2498 Stock Keeping Unit (SKU) which is then processed using the method of ABC analysis and FSN (Fast Moving, Slow Moving and None Moving) analysis to get 10 SKUs that belongs to the category A and F (Fast Moving) group as a sample of research. The research method uses the Quantitative method with the use of ABC analysis, Forecasting and Economic Order Quantity. The results shows that the implementation of ABC analysis effectively reduced the workload of periodic counting and is able to improve data accuracy to be higher level. The exponential smoothing forecast method shows the least gap to the actual value and EOQ effectively optimizes ordering and holding costs and reduces the risk of failure in Inventory Control and positively affects the smoothness of the operation process.

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ANALISIS PENERAPAN ECONOMIC ORDER QUANTITY (EOQ) DI PABRIK GULA MADUKISMO BANTUL

Caraka Tani Journal of Sustainable Agriculture ◽

10.20961/carakatani.v32i2.15120 ◽

2018 ◽

Vol 32 (2) ◽

pp. 126

Author(s):

Risa Rahmawati ◽

Endang Siti Rahayu ◽

Susi Wuri Ani

Keyword(s):

Data Analysis ◽

Production Process ◽

Sugar Cane ◽

Economic Order Quantity ◽

Economic Order ◽

Basic Method ◽

Order Quantity

The purpose of this research to analyze the result of Economic Order Quantity in Madukismo Sugar Manufacture during the year of 2013-2015. The basic method used in this research was analytical, descriptive with case study technique. Data analysis used Economic Order Quantity (EOQ). The results of the study showed that during 2013-2015 the order quantity according to Madukismo Sugar Manufacture policy was 29.377 Quintal with the frequency of ordering 192 times, 30.328.46 Quintal with the frequency of ordering 168 times, and 31.883,06 Quintal with the frequency of ordering 142 times, sequentially. Whereas the result of Economic Order Quantity (EOQ) calculation during 2013-2015 where 52,916.47 Quintal with the frequency of ordering 107 times, 45,980.57 Quintal with a frequency 111 times, and 49,135.20 Quintal with a frequency 92 times, consecutively. The result of Economic Order Quantity calculation to intent filled up the needs of sugar cane and to maintain the sustainability of the production process. The effort to provide Economic Order Quantity of sugarcane,Madukismo Sugar Manufacture managed for expanding of sugarcane planting area. So that, Madukismo Sugar Manufacture could run the production process properly and sustainability.

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