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

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.

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ENRICHING MEDIA MERCHANDISE SARANA PENUNJANG PROMOSI STUDI KASUS PADA BOOKSTORE

CCIT Journal ◽

10.33050/ccit.v7i3.264 ◽

2014 ◽

Vol 7 (3) ◽

pp. 420-436

Author(s):

Dewi Immaniar ◽

Sudaryono Sudaryono ◽

Ayu Ningrum

Keyword(s):

Visual Media ◽

Test Duration ◽

Media Campaign ◽

Business World ◽

Retail Business ◽

The Media ◽

Media Types ◽

The Times ◽

A Company

Talk about retail business can not be separated from the importance of service to consumers and good quality goods . But at the present time due to intense competition in the business world , the service and quality of goods is not enough to be able to increase revenue and attract customers loyal . This makes companies think hard to survive and stable in the business . One of them is by using a media campaign in this regard more toward print or visual media is indirectly felt the value of their effectiveness in communicating product marketing programs . PT . Times Prima Indonesia is a company engaged in the retail book with the name of the Times bookstores . Based on the analysis of the company’s problems requires additional media types supporting more varied and creatif promotion of existing ones, which will be used as a complement and a media campaign as well as to enrich the data renewal campaign design to capture the interest of consumers in which one form of the media campaign is shaped merchandise . Therefore , do Enriching ( enrich ) media campaign merchandise before it is less varied and has not formed a company image . The methodology used is the analysis, observation and design . Besides the new design has been tested with the implemented test duration for 6 months, and greatly increases the perceived contribution , this is evidenced by the chart sales increasing each month.

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A system dynamics model for routing and scheduling of cross-dock and transportation in reverse logistics network of perishable goods

Journal of Intelligent & Fuzzy Systems ◽

10.3233/jifs-200610 ◽

2021 ◽

pp. 1-17

Author(s):

Pezhman Abbasi Tavallali ◽

Mohammad Reza Feylizadeh ◽

Atefeh Amindoust

Keyword(s):

System Dynamics ◽

Reverse Logistics ◽

Logistics Network ◽

Routing And Scheduling ◽

Perishable Goods ◽

Decision Variables ◽

Proposed Model ◽

Reverse Logistics Network ◽

The Cross ◽

Space Requirements

Cross-dock is defined as the practice of unloading goods from incoming vehicles and loading them directly into outbound vehicles. Cross-docking can simplify supply chains and help them to deliver goods to the market more swiftly and efficiently by removing or minimizing warehousing costs, space requirements, and use of inventory. Regarding the lifetime of perishable goods, their routing and scheduling in the cross-dock and transportation are of great importance. This study aims to analyze the scheduling and routing of cross-dock and transportation by System Dynamics (SD) modeling to design a reverse logistics network for the perishable goods. For this purpose, the relations between the selected variables are first specified, followed by assessing and examining the proposed model. Finally, four scenarios are developed to determine the optimal values of decision variables. The results indicate the most influencing factors on reaching the optimal status is the minimum distance between the cross-dock and destination, rather than increasing the number of manufactories.

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Smishing Detection: Using Artificial Intelligence

International Journal for Research in Applied Science and Engineering Technology ◽

10.22214/ijraset.2021.37737 ◽

2021 ◽

Vol 9 (8) ◽

pp. 2218-2224

Author(s):

Samyak Sadanand Shravasti

Keyword(s):

Artificial Intelligence ◽

Short Message Service ◽

Personal Information ◽

Critical Issue ◽

Cyber Attacks ◽

Sensitive Information ◽

Short Message ◽

Proposed Model ◽

Message Service ◽

A Company

Abstract: Phishing occurs when people's personal information is stolen via email, phone, or text communications. In Smishing Short Message Service (SMS) is used for cyber-attacks, Smishing is a type of theft of sensitive information. People are more likely to give personal information such as account details and passwords when they receive SMS messages. This data could be used to steal money or personal information from a person or a company. As a result, Smishing is a critical issue to consider. The proposed model uses an Artificial Intelligence to detect smishing. Analysing a SMS and successfully detecting Smishing is possible. Finally, we evaluate and analyse our proposed model to show its efficacy. Keywords: Phishing, Smishing, Artificial Intelligence, LSTM, RNN

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Inventory Management Evaluation and Inventory Forecast Using EOQ

Syntax Literate ; Jurnal Ilmiah Indonesia ◽

10.36418/syntax-literate.v6i1.2286 ◽

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.

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Perancangan Sistem Informasi Monitoring Persediaan Bahan Kimia dengan Pendekatan Persediaan Continuous Review (Studi Kasus: Departemen Printing-Dyeing PT Kusumahadi Santosa)

PERFORMA Media Ilmiah Teknik Industri ◽

10.20961/performa.14.2.11038 ◽

2015 ◽

Vol 14 (2) ◽

Author(s):

Ikhsan Aditama ◽

Yusuf Priyandari ◽

Wakhid Ahmad Jauhari

Keyword(s):

Information System ◽

Textile Industry ◽

Process Management ◽

Web Applications ◽

Inventory Model ◽

System Management ◽

Functional Requirements ◽

Information Systems Management ◽

Continuous Review ◽

A Company

PT Kusumahadi Santosa is a company engaged in manufacturing, the textile industry. One of the major processes that occurs within the company is printing process where types of chemicals that are used are more than 250 different types. However, in conducting the management of chemical inventories, the company still use the manual process which has not been computerized. As a result, there are some problem occurs, such as miscalculation of 5%-30% in the process of recording the amount of chemicals, process of discharging chemicals not recorded, control and planning of chemical inventories is not optimum that will indirectly result in losses company. Therefore, it is necessary to design information system management inventory for controlling chemical inventories. Information system management is designed in the form of web applications and integrated with continuous review inventory model. In addition, the system is equipped with functional and non-functional requirements to fix of the previous system. By adopting the proposed information systems management, the process management of chemicals can be managed more effectively and efficiently. The proposed information system which integrated the system with continuous review inventory model can be adopted by the company for managing the inventories and reducing the inventory cost.

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Resource and Internal Process Management in Third Party Logistics

Economics and Business ◽

10.2478/eb-2018-0018 ◽

2018 ◽

Vol 32 (1) ◽

pp. 228-246

Author(s):

Aleksandrs Kotlars

Keyword(s):

System Dynamics ◽

Process Management ◽

Value Added ◽

Third Party ◽

Third Party Logistics ◽

Internal Resources ◽

Commercial Activities ◽

Model Of Management ◽

And Performance ◽

A Company

Abstract Contemporary third-party logistics (3PL) companies tend to broaden their competences in different fields and apart from traditional logistics services provide various value-added services to their customers. A systematic approach of 3PL resource management, as well as performance and quality indicator measurement are needed to forecast development of key performance indicators of a company. The purpose of this study is to discover contemporary tendencies of 3PL with regard to resources, performance and quality related issues, to determine resources, processes and quality indicators of 3PL, and to develop a system dynamics model for optimization of internal resources and processes of a company. The paper provides a systematic review of literature related to management of 3PL resources, quality and performance measurement. A model of management and optimization of 3PL resources and internal processes is developed by applying System Dynamics. The developed model consists of six blocks, namely, commercial activities, operations, procurement, administration, personnel management and quality management, representing different areas of internal activities of 3PL.

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

JUMINTEN ◽

10.33005/juminten.v1i4.127 ◽

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).

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Methodics to Create Effective Inventory Management System in a Company

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.708.245 ◽

2014 ◽

Vol 708 ◽

pp. 245-250 ◽

Cited By ~ 1

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

Wikara National Economic and Social Research Development ◽

10.54010/jurnalwikara.v2i1.6 ◽

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

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Process Management as a Means to Analyze the Effectiveness of a Company in Global Markets

Advances in Business Strategy and Competitive Advantage - Strategic Optimization of Medium-Sized Enterprises in the Global Market ◽

10.4018/978-1-5225-5784-5.ch012 ◽

2019 ◽

pp. 263-286

Author(s):

Lidia Sanchez-Ruiz ◽

Beatriz Blanco ◽

Carlos A. Perez-Labajos ◽

Alberto Porras

Keyword(s):

Process Management ◽

The Other ◽

Global Markets ◽

Fixed Costs ◽

Management Perspective ◽

Demand Fluctuations ◽

A Company ◽

Continuous Demand ◽

Low Activity

Companies need to ensure the effectiveness of all their processes. The case of the shipbuilding sector is exactly the same. From a management perspective, two important points should be highlighted. In order to face the continuous demand fluctuations, many shipyards, especially the smaller ones, have reduced their staff. This fact allows shipyards to be more flexible and to reduce their fixed costs in order to survive in low activity periods. On the other side, when there are peaks of workload, they outsource many activities. In fact, outsourcing has become one of the main and most important processes in shipyards. The level of outsourced activities is so high that shipyards are considered to be synthesis industries. Therefore, it is very important to ensure that the outsourcing process is correctly managed. Thus, the aim of this study is to show how process management can be used as a means to guarantee the effectiveness of a process. Specifically, the case of a small shipyard applying process management in its outsourcing process will be described.

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