Inventory Record Research Articles

RANCANG BANGUN APLIKASI INVENTORY METODE FIFO DAN LAPORAN STOK BARANG PADA KPRI “MANFAAT” LEMBAGA PENJAMIN MUTU PENDIDIKAN (LPMP) JAWA TENGAH MENGGUNAKAN MICROSOFT VISUAL BASIC.NET

The purpose of this paper is to build an inventory information system application program using the FIFO method and the Stock Report using Microsoft Visual Basic. NET to reduce errors in calculations and inventory recording errors whose operations can be easily understood by users. Data collection methods used are interview methods, observation and literature study. The writing method used in this research is the description method which explains the general profile of the Central Java Education Quality Assurance Agency (LPMP) KPRI and the exposition method to explain the results of the system design being implemented. It is hoped that the FIFO method of inventory system design and inventory reports will minimize the problems encountered so that it can produce reports and display accurate data according to actual conditions.For the preparation of the FIFO method of inventory information system software and inventory reports, there are several stages: system analysis, process analysis, conceptual design, detailed design, implementation and conversion. Reports generated include the FIFO method inventory of goods reports, goods inward reports, goods outgoing reports and goods returns reports.

Analisis Akuntansi Persediaan Barang Dagang Berdasarkan Psak No. 14 pada Pt. Enseval Putera Megatrading, Tbk

This study aims to determine the suitability of the application of Accounting Standards regulated in PSAK NO. 14 with PT. Enseval Putera Megatrading Tbk. This comparative qualitative research was conducted through observation, interviews, and documentation of objects through interviews so that information was obtained from: manager, warehouse department, accounting department. With this research resulted that PT. Enseval Putera Megatrading Tbk uses the perpetual inventory recording method, where every transaction that occurs is recorded in a journal. The inventory valuation method used is the FIFO (First In First Out) method and the researcher sees that the inventory recording and valuation carried out by PT. Enseval Putera Megatrading is in accordance with PSAK No. 14.

Inventory record inaccuracy and store-level performance

Inventory record inaccuracy (IRI) is the mismatch between the quantity that is recorded in a company's inventory management system and the quantity that is actually physically available. IRI can lead to significant issues in retail, e.g., by causing stockouts and revenue losses triggered by unnecessary replenishment.This paper evaluates the effects of IRI on retail store inventory and sales management performance. We propose a novel network data envelopment analysis (NDEA) model, capable of setting store-level performance standards more accurately than state-of-the-art models. To support managers in identifying the root causes of IRI and in setting realistic target for mitigating IRI, the insights of the proposed NDEA model are used to develop two novel performance indicators: the IRI improvement potential and the IRI improvement workload.This research uses real-life data of an international fashion retailer. The data set contains information of more than 5,250,000 inventory items kept in 81 retail stores. The computational experiments show the benefit of using relative measures to quantify IRI levels accurately across SKUs. Furthermore, decomposing store-level management into inventory management and sales management is found to be highly beneficial for evaluating the impact of IRI on store-level performance. Numerical results also demonstrate that IRI improvement is small for near-efficient stores and remarkably large for highly inefficient stores.

Elimination of Misconduct in Manual Counting Process as an Improvement of Inventory Accuracy in A Manufacturing Company

Managing inventory is crucial especially for manufacturing companies as it has a direct influence on profits of the company. In order to have an efficient inventory management, inventory accuracy need to be achieved and this can be achieved by leveraging technologies and techniques that can minimize the human error. The objective of this study is to investigate the factors affecting inventory inaccuracy in Factory 21 of ABC manufacturing company. This study reveals that the inventory inaccuracy is influenced by the order received in the factory, which is due to the human misconduct during the manual counting process of cartons on pallet. This paper proposes the deployment of Arduino sensor network system in automating the carton counting process.The findings for this study show that the automation system able to improve the inventory record accuracy in ABC manufacturing company.

ANALISIS AKUNTANSI PERSEDIAAN PERUSAHAAN MANUFAKTUR MENURUT PSAK NO 14 PADA PT AGUNG BUMI AGRO

Abstract Inventory is one of the important things for a company, this isbecause most of the assets owned by the company are located on theinventory account side. For trading and manufacturing companies,inventory can be said to be the life or heart of the business, because thecompany's main business activity comes from the availability of inventorystocks. Therefore, the application of inventory accounting inmanufacturing companies is necessary to avoid the occurrence of OverStock (OS) or Out Of Stock (OOS). The purpose of research at PT AgungBumi Agro is to find out whether the application of PT Agung Bumi Agro'sinventory accounting is in accordance with PSAK No. 14 Revised of 2015.This research was conducted by comparing the process of implementingPT Agung Bumi Agro's inventory accounting with the applicableprovisions of PSAK No. 14 Revision of 2015. The results obtained in thisstudy explain that the inventory accounting income at PT Agung BumiAgro is good in terms of inventory definition, inventory measurement,recognition as expense and disclosure of inventories have beenimplemented in accordance with PSAK No. 14, 2015 Revision.Keywords : Inventory; PSAK No 14, 2015 Revision; InventoryValuation; Inventory Recording

Inventory Record Inaccuracy Explains Price Rigidity in Perishable Groceries

We propose a simple explanation for price rigidity in perishable groceries: inventory record inaccuracy (IRI). We build our argument in two steps. First, we tailor Gallego and Van Ryzin’s (1994) revenue management model to perishable groceries by adding an inventory waste process, deteriorating product quality, and menu costs. Comparing the model's optimal time-dependent pricing policy (i.e., when prices do not condition on real-time inventories—which corresponds to IRI) with its optimal state-dependent policy (i.e., when prices do condition on real-time inventories—which corresponds to no IRI), we demonstrate that IRI can explain about 90% of the menu costs required to rationalize any given level of price rigidity. Moreover, based on the model, we predict that reducing menu costs from 10% of marginal cost to 1% would increase a representative product's price-updating frequency without IRI by at least three times more than it would with IRI. Second, we test our prediction with data from two case studies: a U.K. grocery store that installed electronic shelf labels (ESLs)—a technology that reduces physical menu costs—and an E.U. grocery store that installed both ESLs and GS1 barcodes—the latter being a technology that reduces IRI. Consistent with our prediction, the technology upgrade increased price-updating frequency by 55% in the first case study and by 853% in the second study.

Cryobanking of primary somatic cells of elite farm animals - A pilot study in domesticated water buffalo (Bubalus bubalis)

Buffalo is an important farm animal species in South and South-east Asian countries. Cryopreservation allows long-term storage of somatic cells, which can be made available to research communities. This study aimed to 1) establish and cryopreserve somatic cells from elite buffaloes, and 2) share stored somatic cells and their associated data with researchers. To achieve these targets, somatic cells were established successfully from tail-skin biopsies of 17 buffaloes. The informative data such as buffalo details (breed, date of birth, sex, and age at the time of tissue biopsy collection, and production traits), the number of cryovials stored, and freezing dates were recorded in an electronic file and a printed inventory record. The established somatic cells were flat, spindle-shaped morphology, and expressed vimentin (a fibroblast-like cell type marker) and the negative expression of cytokeratin-18 (an epithelial cell type marker). Altogether, we cryopreserved 970 cryovials (0.1 million cells per vial) from two buffalo breeds, namely Murrah and Nili-Ravi (at least 45 cryovials per animal), for cryobanking. Somatic cell nuclear transfer (SCNT) experiments demonstrated the utility of cryopreserved cells to produce cloned buffaloes. Importantly, these cryopreserved somatic cells are made available to scientific communities. This study encourages the cryopreservation of somatic cells of elite farm animals for their utilization in cell-based research.

ANALISIS DAN PERANCANGAN SISTEM AKUNTANSI PERSEDIAAN PADA UD LI JAYA KUPANG

Inventory is a large asset owned by the company. Large investments invested in the form of inventory willcause problems related to the cost of organizing where the cost will increase the warehouse costs. Inventoryis very vulnerable to damage, theft, and misappropriation. The inventory accounting system plays animportant role in the arrangement of avoiding the repatriation of the company's wealth, especiallyinventory. Proper and correct accounting treatment of inventory is absolutely necessary. This is becausethe inventory post has a considerable influence in the financial statements, which is in the balance sheetand in determining the price of inventory in the income statement. The problem in the research is how todesign good documents, records, and procedures related to the inventory accounting system ofmerchandise at Usaha Dagang Li Jaya Kupang and how the internal control system prevent the multipositions, mis-recording, and possible misappropriation of inventory of at Usaha Dagang Li JayaKupang. The results showed that the inventory accounting information system at UD. Li Jaya hasweaknesses in terms of inventory recording undone because of the limited educational background of theexisting workforce and in terms of its internal controls that have not been effective. The obstacles faced byUD. Li Jaya Kupang is the absence of computerized administration in the recording system, so that isno recording at all in the warehouse section. The inventory accounting information system at UD LiJaya Kupang must have its own recording administration, so that employees do not record bythemshelves.
 Keywords : Inventory, Intenal Control, Inventory Accounting Information System

ANALISIS METODE PENCATATAN PERSEDIAAN AIR MINERAL AQUA PADA UD KALTIM MAKMUR DI KABUPATEN BERAU

A good inventory system can be seen from how an inventory is reported correctly and accurately on the company's balance sheet. In order for this to be achieved, it is necessary again to be precise and precise in terms of recording, appraising and determining the cost of goods. Apart from being very influential in the company's financial statements, this will also affect the supervision of the company's inventory which is indirectly related to the supervision of the company's employees itself.The purpose of this study was to clearly determine the application of the method of recording and assessing the Aqua Mineral Water supply at UD Kaltim Makmur in accordance with PSAK No. 14 concerning Inventory. The analytical method used in writing this thesis is quantitative descriptive analysis.The results of this study concluded that the application of the Aqua Mineral Water supply recording method at UD Kaltim Makmur was not in accordance with PSAK No. 14. The inventory recording method used by UD Kaltim Makmur is the periodic method. The use of the periodic recording method at UD Kaltim Makmur is not in accordance with PSAK No. 14, which should use a perpetual method or with the use of inventory cards. UD Kaltim Makmur calculates the inventory value without using the cost formula required in PSAK No. 14, so the method used by UD Kaltim Makmur is not in accordance with PSAK No. 14.

Penerapan Metode Rapid Application Development pada Sistem Informasi Persediaan Barang berbasis Web

At this time information technology is developing very rapidly and requires business actors to be able to follow the developments and advances of the times, especially in the world of technology and information. Inventory of merchandise is a company asset that is one of the assets included in current assets. Merchandise inventories are company assets that are purchased and stored to be resold and make a profit. Recording of merchandise inventory that is still manual, such as data collection of incoming goods, demand for goods, delivery of goods, returns of goods to the preparation of reports will certainly result in the accumulation of goods request notes. The difficulty of data collection of requests for goods from branches to deliver goods, errors in goods requested and sent, the length of time to record the return of goods, errors in calculating the stock of goods and difficulty in obtaining reports when needed are also one of the obstacles in the process of merchandise inventory. Therefore, a web-based inventory information system is needed in order to make it easier for users to manage the inventory process of their merchandise, so that it can simplify the process of recording, storing, searching and making reports. In designing a web-based inventory information system, the author uses the Rapid Application Development (RAD) method. This information system is the best solution for solving problems in managing inventory. With the use of computer data technology, managed data becomes faster, reduces time inefficiency and reduces the occurrence of errors in processing data.

Perancangan Sistem Persediaan Berbasis Website pada PT. Asahi Fibreglass

The development of technology which continues to increase rapidly has an impact on the internal processing of a company that is required to run faster. Information system technology is the main solution as a tool for activities in a company that is faster and more practical, and allows obtaining data that is more valid, precise and minimizes errors. PT Asahi Fibreglass is a company in Jakarta which started its business from 2001 which is engaged in manufacturing and marketing products for the needs of fiberglass products for industrial, residential, building and property needs. In operational activities of PT. Asahi Fibreglass has several obstacles in the process of recording stock items which still use a book-based recording method which makes recording look messy, there are differences in recording the physical stock of goods in the warehouse with the recording of goods recorded in a Microsoft Excel file, there are missing or tucked data because it still uses manual methods and is still book-based. The purpose of creating a web-based inventory information system at PT Asahi Fibreglass is a system improvement in regulating the flow or path of the process of in and out of warehouse goods that will replace the old inventory system that still uses Microsoft Excel, as well as speed up the process of making reports, and minimize errors in the inventory recording process.

Piezoresistive smart-textile sensor for inventory management record

Implementing smart-textile sensor to connect shelves in a retail shop for inventory management record is always a challenge. This paper deals with the manufacturing model of the piezoresistive textile sensor and their application in store shelves for inventory management record of getting the benefits for the retailers. A pressure-sensitive textile semiconductor and textile electrodes have been developed for manufacturing single column and multi-column shelf sensor, which can detect the object through their weights and send the information wirelessly (via smartphone) to the control room in order to record inventory related information. The sensibility of the piezoresistive sensor has been optimized by a plasma-assisted semi-conductive coating of polyester textile and the electrode materials by the embroidery stitching technique. Finally, the textile sensor has been embedded into the retail shelve and monitor the inventory-related data such as the presence and absence of the products, out of the stock situation, the number of products, placement and displacement time etc.

Pembuatan Sistem Multiuser Untuk Persediaan Barang Dengan Metode Last In First Out

Business processes that are carried out still use manual recording where purchase transactions, inventory recording, and sales records are recorded in the book. Manual recording was deemed less effective and efficient and also resulted in a more complicated inventory reporting process. The purpose of this study is to develop an inventory information system using the Last In First Out (LIFO) method where the unit sold is the last unit entered, making it easier to organize goods, both entering and retrieving goods, and goods will sell quickly because they follow the trend with the latest models that generate more profit. large and this system is also equipped with a minimum stock limit report aimed at knowing the minimum stock limit of goods so that it can provide up to date notifications about out of stock items. By implementing this system, it is hoped that users will find it easier to carry out their business processes.

Evaluating Count Prioritization Procedures for Improving Inventory Accuracy in Retail Stores

We compare several approaches for generating a prioritized list of products to be counted in a retail store, with the objective of detecting inventory record inaccuracy and unknown out-of-stocks. We consider both approaches, which sort products based on heuristic indices, and approaches, which maintain probability distributions for the true inventory levels updated based on sales and replenishment observations. Our study evaluates these approaches on multiple metrics using data from inventory audits we conducted at European home and personal care retailer dm-drogerie markt. Our results support arguments for both rule-based and model-based approaches. We find that model-based approaches provide versatile visibility into inventory states and are useful for a broad range of objectives, but that rule-based approaches are also effective as long as they are well-matched to the retailer's goal.

THE FEASIBILITY OF INVENTORY MANAGEMENT SYSTEM IN CONSTRUCTION AND HOUSING DEVELOPMENT UNIT OF DESSIE, ETHIOPIA

This research attempted to assess the inventory management practice of Dessie Housing and Development Agency branch office. The type of research design was descriptive survey. The study employed both quantitative and qualitative methods (mixed method). The total number of the target population was 54 among which 18 participants were selected using purposive sampling. Two employees of the office were also purposively selected for an interview (Branch manager and logistic manager). The data were collected by questionnaire, interview and document analysis. The quantitative data were collected through a self-rated questionnaire where the items are rated using the Likert Scale. The items are 49 in number, which are categorized into seven groups. Seven generalized questions were designed for the interview. Necessary documents that are essential to carry out inventory management were examined to perform the document analysis. The major findings of the research are concerning inventory controlling mechanisms materials are issued from storerooms only based on requisitions which are verified by a technical staff of the units, strategies being followed by the branch office in overcoming the problems of inventory are Standard price method, weighted average cost method and First in first out method. Among the Constrains the main ones are a storage problem in its stock and significant losses of construction materials. To generate inventory record reports the organization conducts regular auditing inventory records and perpetual inventory records are updated promptly. Finally, further research is recommended to investigate more the practice of inventory management controlling system in the research area.

Impacts of Inventory Record Inaccuracy on Retailers’ Internal Operations

We present a continuous-time stochastic formulation of the standard Economic Order Quantity (EOQ) model incorporating all major costs incurred in carrying a product, including the cost of restocking, the cost of auditing the shelf stock level, the opportunity cost of capital, the cost of loss process, and the costs caused by not serving demand. In this formulation, the loss process is an unobservable point process while the demand point process is observed only when the item is in stock. The retailer’s control problem is reduced to an optimal stopping problem (corresponding to the restocking time) during which the shelf stock level can be audited finite number of times. The solution to the Hamilton-Jacobi-Bellman (HJB) equation of this stopping problem is fully characterized and constructed by applying a differential operator finite number of times. In particular, a closed-form expression for the optimal value function is obtained when auditing is infeasible or suboptimal. It is proved that the optimal restocking policy is a threshold policy in a three-dimensional state space that defines the Bayesian belief dynamics of the shelf stock level. Complete comparative statics analysis of this probability threshold along with its corresponding stopping time equivalent in the time domain are provided. We show that the jointly optimal auditing policy is not a threshold-based policy, that is the state trajectory can enter and leave the optimal audit region, leading to a finite time window during which auditing is optimal. We present a numerical example to illustrate the functional form of the optimal solution and estimate the impacts of inventory record inaccuracy on increasing the net present value of the expected total cost of carrying a product. The performance of the optimal policy is also compared with the best performing threshold-based heuristic policies in both time and probability domains. We show in this example that when the distribution of the shelf stock level is dynamically tracked, auditing the shelf stock level has a negligible impact on reducing the net present value of the expected total cost of carrying a product.

Landslide susceptibility analysis of Karakoram highway using analytical hierarchy process and scoops 3D

Landslides are prevalent, regular, and expensive hazards in the Karakoram Highway (KKH) region. The KKH connects Pakistan with China in the present China-Pakistan Economic Corridor (CPEC) context. This region has not only immense economic importance but also ecological significance. The purpose of the study was to map the landslide-prone areas along KKH using two different techniques-Analytical Hierarchy Process (AHP) and Scoops 3D model. The causative parameters for running AHP include the lithology, presence of thrust, land use land cover, precipitation, and Digital Elevation Model (DEM) derived variables (slope, curvature, aspect, and elevation). The AHP derived final landslide susceptibility map was classified into four zones, i.e., low, moderate, high, and extremely high. Over 80% of the study area falls under the moderate (43%) and high (40%) landslide susceptible zones. To assess the slope stability of the study area, the Scoops 3D model was used by integrating with the earthquake loading data. The results of the limit equilibrium analysis categorized the area into four groups (low, moderate, high, and extremely high mass) of slope failure. The areas around Main Mantle Thrust (MMT) including Dubair, Jijal, and Kohistan regions, had high volumes of potential slope failures. The results from AHP and Scoops 3D techniques were validated with the landslides inventory record of the Geological Survey of Pakistan and Google Earth. The results from both the techniques showed similar output that coincides with the known landslides areas. However, Scoops 3D provides not only susceptible zones but also the range of volume of the potential slope failures. Further, these techniques could be used in other mountainous areas, which could help in the landslide mitigation measures.

Development and Quality Analysis of Laboratory Management Information System Based on CodeIgniter Framework

The objectives of the research are designing and create a laboratory information management system (SIMLAB) based on codeIgniter framework, and ensure the software quality based on Web-QEM standarts. It was built to help facilitate the process of laboratory management in SMK X in Yogyakarta City. The problems that occur in SMK X are the recording of inventory, borrowing and returning equipment is still processed manually on books that have not been able to support service flexibility and data security. The type of this research is Research and Development (R&D) with waterfall development model. The phases of this development model include analysis, design, coding, and testing. The analysis stage include literature study, field studies, user analysis, software analysis, and hardware analysis. Planning stages include database design using ERD, interface design, and modeling with UML. Coding stage uses the Code Igniter framework for back-end, Bootstrap framework as a supporting front-end framework, and My SQL relational database. Testing stage uses the quality standards of Web-QEM. The results of this research are (1) laboratory management information system developed by some features: laboratory information, scheduling, guest books, inventory, loan, return, and maintenance equipment. (2) The quality test result of functionality characteristic gave 100% (very suitable), reliability gave 100% (satisfy), usability gave 83.4% (very suitable), efficiency characteristic using YSlow gave 95.2% (very suitable), and using Page Speed gave 95.7% (very suitable) with 0.6 seconds for load time (accepted). Base on the test could be concluded that the laboratory information management system meets the quality standards of Web-QEM.

ANALYSIS OF PRODUCT-SERVICE SOLUTION INVENTORY RECORD FOR MALAYSIAN PALM OIL ARGIBUSINESS

This thesis is aimed at analyzing the Product – Service System (PSS) inventory control for Palm Oil Plantation Company and developing one software application named as inventory record to help the management for managing the inventory control of the company. The thesis deals with the study of PSS and inventory control at Company A which is a Malaysian palm oil plantation company. The aims of this thesis are to describe and analyse how Product-Service Solution Inventory Record manages its oil palm agriculture industry to achieve long term competitive advantage. In order to achieve the aim, these following research objectives have been to investigate the record information in and out fertilizer and poison for using the company requirements and issues for palm oil agribusiness operations, to develop a generic model that incorporating all general principles of Product-Service Solution Inventory Record Palm Oil Industry lastly to develop a Product-Service Solution Inventory Record in Palm Oil Industry for implementation. The palm oil industry is one of the well-known industry in Malaysia that provide the most prominent contribution to Malaysia’s economy. Malaysia Palm Oil Board (MPOB) is an agency that responds for providing technical support, advisory and consultancy services to all palm oil plantation company in Malaysia which is included as a part of PSS. PSS is a managing system that combining product and service in one system. PSS is essential to provide better environmental impact, improve competitiveness and to help the company satisfy the demand from customer. However, PSS could not be running smoothly when the inventory of product and service are managed in separate interface systems which is by using manual inventory control like Microsoft Excel and handwriting documentation. In order to make PSS inventory control easier, and systematic, an inventory application system is developed. This research is focusing on developing PSS inventory record for fertilizer and pesticide at the Company A. This record will using Microsoft Visual Basic 6 which could help in decision and calculation making for product and service of palm oil plantation.

Artificial Intelligence Powered Smart Refrigerator to Arrest Food Wastage

This application concept paper looks at extending the Artificial Intelligence (AI) capabilities especially the Image recognition and Natural language processing (NLP) abilities to develop smart refrigerators for budget homes primarily intending to arrest food wastage. This paper has two parts, first chapter focuses on AI image recognition and quantification approach. Second chapter utilizes Natural language processing to process the instructions and save them as an inventory record. Our experiments have led to below findings: • Application of AI can be extended beyond today's self-ordering units. • Hybrid approach of Image and voice recognition can help in practical applications in quantitative manner