Proposed Model for Optimal Inventory Policy

2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Mohamed Khalil ◽  
El-Sayed Ellaimony ◽  
Ahmed Taha ◽  
Mohamed Osman
Keyword(s):  
Control Measures ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Specific Effects ◽  
Proposed Model ◽  
Interesting Contribution ◽  
Private And Public ◽  
Total Inventory ◽  
And Control

The topic of management of stock is an energetic importance to the success of any organization and is one of the serious determinants of the continuity and efficient productivity of any organization. The study considers significant because it is hoped that on the completion, the study will provide further insights into the understanding of stock control measures. Through using vehicle service center as a reference point, the study will make an interesting contribution to the understanding of the general and specific effects of stores control in other private and public utilities. In addition, the study will further justify the need to strengthen management and control of stock with anticipated benefit in view. This paper will be proposed a mathematical model for optimal inventory policy to minimize the total inventory cost by using the assignment technique and will be applied it on a case study.

scholarly journals An Optimal Order Quantity Of Spare Parts To Minimize Total Inventory Cost Using Periodic Review Approach (R,s,s) Method In PT. XYZ Bandung

2017 ◽  
Vol 1 (02) ◽  
Author(s):  
Feviana Betsi Purba ◽  
Luciana Andrawina ◽  
Murni Dwi Astuti
Keyword(s):  
Spare Part ◽  
Spare Parts ◽  
Optimal Order ◽  
Periodic Review ◽  
Order Quantity ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Total Saving ◽  
Manufacturing Company ◽  
Total Inventory

The availability of spare parts is very crucial thing for manufacturing company in order to support the continuity of production activities. PT XYZ is a manufacturing company which produces thread into fabric. In this case, inventory control of spare part is not properly managed. Inventory position of spare parts in warehouse is always more than inventory policy of the company itself or called overstock which causes total inventory cost is always high. Company only consider on the order fulfillment of spare parts to prevent downtime on the machine that increase performance of production. Hence, order quantity of spare parts is always excessive or not optimal. In this research, global inventory policy conducted in order to minimize total inventory cost is periodic review approach (R, s, S) method. This inventory policy will be calculated using power approximation and obtained total saving cost of holding cost by 31 % while total saving cost of order cost decreased by 7 %. Overall, total inventory cost minimized by 7 % or equal to Rp138.902.742.

scholarly journals First record of Cydalima perspectalis (Walker, 1859) (Lepidoptera: Crambidae) in Greece

2015 ◽  
Vol 8 (2) ◽  
pp. 66-72
Author(s):  
I. Strachinis ◽  
C. Kazilas ◽  
F. Karamaouna ◽  
N.E. Papanikolaou ◽  
G.K. Partsinevelos ◽  
...  
Keyword(s):  
Urban Environment ◽  
First Record ◽  
Control Measures ◽  
Public Gardens ◽  
Buxus Sempervirens ◽  
Private And Public ◽  
And Control

Summary The study concerns the first records for the presence of the box tree moth Cydalima perspectalis in Greece and subsequent infestations on ornamental box trees in urban environment. Adults of the pest were first spotted in six locations around the country from October 2013 until April 2015, when infestation was also detected (mid April). The pest was found infesting plants of Buxus sempervirens in several private and public gardens and parks in the urban environment of Kifissia, Attica. Possible introduction scenarios, as well as preventive and control measures are discussed.

scholarly journals AN INVENTORY POLICY ON AGROINDUSTRY SUPPLY CHAIN: A CASE STUDY OF FRUIT SEASONAL IN EAST JAVA

2021 ◽  
Vol 2 (2) ◽  
pp. 46-50
Author(s):  
Paramaditya Arismawati ◽  
Wahyu Andy Prastyabudi
Keyword(s):  
Maximum Level ◽  
Inventory Systems ◽  
Optimal Order ◽  
Periodic Review ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Policy System ◽  
Deterioration Rate ◽  
Perishable Goods

To forestall the overstock or understock, inventory policy often considers thoroughly the optimal order quantity and order time. It is considerably getting more complex in the case of agroindustry as its commodity mostly is classified as perishable goods. The increase of order at a particular season sometimes is not counterbalanced with the number of stocks. The prevalent rationale of this problem is due to none of the appropriate inventory policy is implemented. The purpose of this research is to develop an inventory policy system in the case of agroindustry considering the inventory cost, deterioration rate of perishable fruits, and seasonal variable. Thus, it can be used to maintain the stability of demand while considering those variables. This study employs the periodic review (R,s,S) to construct an inventory policy. The periodic review is determined by order interval (R), a combination of reorder point (s), and maximum level (S). The experimental case study is presented to provide an example of an inventory policy. The inventory policy can alleviate the stocking problem of perishable and seasonal fruits encountered by the agroindustry. The method is able to minimize inventory cost by controlling the inventory systems. This paper offers a model of inventory policy on agroindustry to control and optimize the stocks while reckoning the inventory cost, deterioration rate, and seasonal to fulfil the demand.

ANALISIS PENGENDALIAN PERSEDIAAN DENGAN METODE EOQ USAHA STAN KAYU SINAR SOWI KABUPATEN MANOKWARI

2020 ◽  
Vol 2 (2) ◽  
pp. 340
Author(s):  
Rizkyani Pratama ◽  
Yulius H Saptomo ◽  
Dirarini Sudarwadi
Keyword(s):  
Raw Materials ◽  
Case Study Research ◽  
Cost Savings ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Total Inventory

Controlling and determining of inventory is an important thing in order to produce efficiently and able to make smooth sales. The purpose of this research is to know an analysis of controlling raw material inventoriesin the manufacture of brick by using Economic Order Quantity (EOQ) method to increase efficiency of the total inventory costin Stan Kayu Sinar Sowi. The raw material of brick is rough sand and cements. Type of case study research through a qualitative approach by means of interviews, observation and documentation. Case study on a wood booth business in Manokwari, West Papua. The results of the study that the purchase of raw materials made by the company is considered less efficient, because company policies tend to cause expenditure to be greater in the amount of Rp.606,620,250 for 12 months (1 period), while using the Economic Order Quantity (EOQ) method will issue a fee of Rp.550,712,500 for the same period. Using the Economic Order Quantity (EOQ) method, the order quantity is higher and the order frequency will be lower, resulting in order cost savings and increasing the total inventory cost efficiency.

Effects of Alcohol Policy on Population Variables and Control Measures

2019 ◽  
pp. 179-189
Author(s):  
R. W. Kisusu ◽  
N. Kalimang'asi ◽  
N. Macha ◽  
J. L. Mzungu
Keyword(s):  
Sample Size ◽  
Alcohol Policy ◽  
Control Measures ◽  
Primary Data ◽  
Statistical Tools ◽  
Chi Square ◽  
Municipal Council ◽  
The Masses ◽  
And Control

This case study of Dodoma Municipal Council focuses on the application of statistical tools to establish Population Variables (PVs) affected by alcohol and suggested control measures. The establishment relied on primary data involving a sample size of 156 respondents selected through purposive sampling and analyzed by cross-tabs and Chi-square. The analysis found alcohol policy affects mostly the lower-educated population, small householders and youths, and these were significant at 0.029, 0.002, and 0.006 levels, respectively. The inferences drawn shows within PVs, alcohol reduces students' performances, influences separation of families, and increases poverty in the households, and all were significant at 0.003, 0.028, and 0.003, respectively. The findings conclude that alcohol affects all PVs, which consequently ends up deteriorating welfare. Therefore, to combat alcohol, the chapter recommends usage policy legal measures and educating the masses on the effect of alcohol.

Effects of Alcohol Policy on Population Variables and Control Measures

2014 ◽  
pp. 267-280
Author(s):  
R. W. Kisusu ◽  
N. Kalimangʼasi ◽  
N. Macha ◽  
J. L. Mzungu
Keyword(s):  
Sample Size ◽  
Alcohol Policy ◽  
Control Measures ◽  
Primary Data ◽  
Statistical Tools ◽  
Chi Square ◽  
Municipal Council ◽  
The Masses ◽  
And Control

This case study of Dodoma Municipal Council focuses on the application of statistical tools to establish Population Variables (PVs) affected by alcohol and suggested control measures. The establishment relied on primary data involving a sample size of 156 respondents selected through purposive sampling and analyzed by cross-tabs and Chi-square. The analysis found alcohol policy affects mostly the lower-educated population, small householders and youths, and these were significant at 0.029, 0.002, and 0.006 levels, respectively. The inferences drawn shows within PVs, alcohol reduces students’ performances, influences separation of families, and increases poverty in the households, and all were significant at 0.003, 0.028, and 0.003, respectively. The findings conclude that alcohol affects all PVs, which consequently ends up deteriorating welfare. Therefore, to combat alcohol, the chapter recommends usage policy legal measures and educating the masses on the effect of alcohol.

scholarly journals Assessing Tourists’ Preferences of Negative Externalities of Environmental Management Programs: A Case Study on Invasive Species in Shei-Pa National Park, Taiwan

2019 ◽  
Vol 11 (10) ◽  
pp. 2953 ◽  
Author(s):  
Tzu-Ming Liu ◽  
Chia-Mei Tien
Keyword(s):  
Prevention And Control ◽  
National Park ◽  
Public Support ◽  
Control Measures ◽  
Discrete Choice Experiments ◽  
Negative Externalities ◽  
The Public ◽  
Prevention And Control Measures ◽  
And Control

This study uses discrete choice experiments to evaluate and reduce the environmental impact of negative externalities of managing invasive alien species (IAS), such as “ecological shock”, “health risk”, “waiting time” “tour range” and “prevention and control fee”, on the support of IAS prevention and control. We used data from Taiwan’s Shei-Pa National Park and its visitors for the case study and obtained 602 valid questionnaires. The results indicate that visitors consider that each unit of externality of IAS prevention and control measures significantly reduces their utility, and the magnitude equals the estimated value of externality. However, although negative externalities are inevitable, the support for IAS prevention and control measures could be maximized by adjusting the types and proportions of negative externalities. For example, visitors are willing to sacrifice up to 1.41% of the tour range in exchange for a 1% reduction in ecological shock. This study summarizes the negative externalities of IAS prevention and control measures and proposes to adjust the combination of negative externalities to reduce the shocks of those IAS prevention and control measures on the public, so as to increase the public support for IAS policies and increase the sustainability of tourism.

scholarly journals On the Use of Importance Measures in the Reliability of Inventory Systems, Considering the Cost

2020 ◽  
Vol 10 (21) ◽  
pp. 7942
Author(s):  
Liwei Chen ◽  
Meng Kou ◽  
Songwei Wang
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Inventory Systems ◽  
Optimization Analysis ◽  
Proposed Model ◽  
Important Approach ◽  
Total Inventory ◽  
Inventory Control Model ◽  
The Cost

In order to maximize inventory benefits or minimize costs, reliability and cost of inventory control models need to be identified and analyzed. These importance measures are one important approach to recognize and evaluate system weaknesses. However, importance measures have fewer applications in inventory systems’ reliability. Considering the cost, this paper mainly discusses the reliability change of performance parameters with the importance measures in inventory systems. The calculation methods of differential importance and Birnbaum importance are studied in the inventory control model with shortages. By comparing the importance values of various parameters in the model, the optimization analysis of the inventory model can be used to identify the key parameters, so as to effectively reduce the total inventory cost. The importance order and the identification of key parameters are helpful to increase the operational efficiency of the inventory control and provide effective methods for improving the inventory management. Lastly, a case study with a shortage and limited inventory capacity is used to demonstrate the proposed model.

scholarly journals Analyzing the country events registration of the ?safe community project using E & CFA technique: Case study of Esfahan Province

2015 ◽  
Vol 16 (SE) ◽  
pp. 461-476
Author(s):  
Hamzeh Zarei ◽  
Saeed Givehchi ◽  
Mahanaz Nasrabadi
Keyword(s):  
Safety Culture ◽  
Control Measures ◽  
Test Results ◽  
Statistical Population ◽  
Root Cause ◽  
Community Project ◽  
Statistical Sample ◽  
And Control ◽  
Safe Community

The present study aims to analyze the events of the ?safe community project of Esfahan using E & CFA technique. Safe community project includes the initial preparations for the establishment of a safety culture in societies and providing purposeful management solutions to prevent the occurrence of various events. With the aggregate of the statistics on a variety of accidents with clear definitions, a good statistical population to be examined and analyzed is created. The statistical sample in this study consists of all the victims of the events recorded in the software relating to the state ?safe community project and in the section about the investigation of accidents by questionnaire, technical experts in the staff units of Health Center No. 1 in Esfahan analyzed the two selected events in the form of responding to components associated with intermediate and root causes and provided preventive and control measures. The instruments applied in this research included a questionnaire on the analysis of intermediate and root causes and a questionnaire concerning the assessment of preventive and control measures. Also, the degree of importance of each component and its relationship with other components were evaluated using Kruskal-Wallis test and then, the intended components were ranked. Further, brainstorming sessions were held with the presence of 5 technical experts and 5-why tool and Ishikawa root cause diagram were used as a tool for investigating causal relationships in the two selected events. The test results indicated that each component in the questionnaire is not associated with other components and can be effective alone in creating the desired effect.

scholarly journals Identification and Control of Game-Based Epidemic Models

Games ◽  
2022 ◽  
Vol 13 (1) ◽  
pp. 10
Author(s):  
Dario Madeo ◽  
Chiara Mocenni
Keyword(s):  
High Performance ◽  
Evolutionary Games ◽  
Point Of View ◽  
Control Measures ◽  
Strategic Decision ◽  
Control Parameters ◽  
Estimated Parameters ◽  
Proposed Model ◽  
The Stability ◽  
And Control

The effectiveness of control measures against the diffusion of the COVID-19 pandemic is grounded on the assumption that people are prepared and disposed to cooperate. From a strategic decision point of view, cooperation is the unreachable strategy of the Prisoner’s Dilemma game, where the temptation to exploit the others and the fear of being betrayed by them drives the people’s behavior, which eventually results in a fully defective outcome. In this work, we integrate a standard epidemic model with the replicator equation of evolutionary games in order to study the interplay between the infection spreading and the propensity of people to be cooperative under the pressure of the epidemic. The developed model shows high performance in fitting real measurements of infected, recovered and dead people during the whole period of COVID-19 epidemic spread, from March 2020 to September 2021 in Italy. The estimated parameters related to cooperation result to be significantly correlated with vaccination and screening data, thus validating the model. The stability analysis of the multiple steady states present in the proposed model highlights the possibility to tune fundamental control parameters to dramatically reduce the number of potential dead people with respect to the non-controlled case.

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