PT Krakatau Research Articles

Improvement of Mro Material Procurement Efficiency Through the Six Sigma Concept at PT Krakatau Steel (Persero) TBK

PT Krakatau Steel (Persero) Tbk (PTKS) is a State-Owned Enterprise engaged in the production of steel and related services. The MRO Procurement Department is a procurement function to process MRO Material purchasing at PTKS. The main problem currently faced is the lead time for the MRO material procurement process which takes a long time, the reason is that procurement is often conducted by spot method and repeatedly for the same material. Too long lead times pose a risk to the smooth production process due to the unavailability of MRO materials when needed. Referring to the MRO Procurement Department's KPI, >85% of the number of POs (Purchase Orders) issued must have a lead time of <41 days, however, based on the actual historical data for 2022, the PO lead time achievement for the MRO material procurement process does not meet the target. Department's KPI, >85% of the number of PO’s (Purchase Orders) issued must have a lead time of <41 days, however, based on the actual historical data for 2022, the PO lead time achievement for the MRO material procurement process does not reach the target. An alternative solution used to speed up procurement lead times is implementing a Blanket Purchase Agreement (BPA) and/or Consignment Contract for MRO routine/consumable material types. The results obtained are that the long and complicated MRO material procurement process for the same type of material can be eliminated, which means that with the improvements made, the MRO Procurement Department can implement a more efficient procurement process.

Employee e-Recruitment using the Simple Additive Weighting (SAW) Algorithm at PT Krakatau IT

Recruitment aims to get the right people according to criteria that suit the company's conditions and needs. Currently in Krakatau IT the recruitment system is implemented manually using the stages of receiving files in hardcopy or still using company email, carrying out written tests directly in paper form. This requires a long time in the process of file selection and assessment of test results. To overcome this problem, an online recruitment system is needed, starting from publishing job requirements/vacancies, selection stages and online assessments. This e-recruitment can make decision making easier, from identifying problems to selecting the right data. The decision-making methodology in designing e-recruitment uses the simple additive weighting (SAW) method can help improve the fit between employees and their roles, which can contribute to better performance so that employee selection is based on criteria that match job requirements.

Information Technology Governance Analysis to Reduce Information Security Risks Using Cobit 2019: A Case Study of Manufacturing Companies

PT Krakatau Steel (Persero) Tbk is a company engaged in the manufacturing industry that utilizes digital transformation to improve efficiency, optimize facilities and assist organizations in making business decisions quickly. However, there are new challenges in implementing digital transformation, namely increasing dependence on information technology (IT) and triggering high potential threats to information security. Therefore, good information technology governance is needed in managing information security. The research method is based on the Control Objectives for Information Technologies (COBIT) framework version 2019 as the best guide in managing information technology governance. The research was conducted in several stages, including data collection through observation of policy documents and interviews with employees of the BEICT (Business Enables & Information Communication Technology) Department who are responsible for managing services and maintaining the company's digital assets. Evaluation of the maturity level was carried out on 8 priority objectives consisting of EDM03, EDM05, APO12, APO13, APO14, BAI09, DSS05, and MEA04 based on design factor assessment. The results of the analysis of selected domain activities, the IT governance maturity level was at 2.56 (managed level). Indicates that the organization has managed and implemented information security activities, but some activities do not yet have written policies or procedures. With recommendations in the form of proposed improvements to the aspects of people, processes and technology, it is hoped that it can increase the level of maturity of IT governance in reducing information security risks and supporting digital transformation programs.

Performa Keuangan PT Krakatau Steel Tbk Sesudah 12 Tahun IPO

Many companies change their status from closed companies to public companies by releasing initial shares (IPO) to the public, including steps taken by PT Krakatau Steel (Persero) Tbk. This step can create both positive and negative effects. This study seeks to examine the effect of the IPO on the company's financial performance. The financial ratio of businesses that choose to become public companies is the focus of this study in particular. This study uses secondary data from the company to develop quantitative method analysis. The current ratio, quick ratio, debt to equity ratio, return on equity, return on assets, and debt to asset ratio are the main subjects of the investigation and analysis. According to the analysis's findings, the current ratio, debt to equity ratio, and debt to asset ratio are all significantly impacted negatively by the company's decision to become public. Return on equity, return on assets, and quick ratio are unaffected by changes in the company's status.

ANALYSIS OF THE EFFECT OF MANAGEMENT OF RECEIVABLES RISK WITH CREDIT SCORING ON CREDIT COLLECTIBILITY

A good management of account receivable is needed to encourage company revenues to be able to fulfill financing needs. One way to manage receivables is to do credit scoring. This research was conducted to examine the effect, direction, and significance of credit scoring on credit collectability at PT Krakatau Steel in 2022 to 2023. In this study, the data used is secondary data, obtained from company archives. The population of this study is all consumers registered in the company, namely as many as 709 companies. The number of samples taken was 228 samples with the criteria of consumers who are still making transactions from 2022 to 2023. The results obtained using descriptive analysis show that credit scoring is in the good category and the company's credit collection is in the current category. Credit scoring has a positive and significant effect of 74.2% on credit collectability at PT Krakatau Steel with a significance level of 0.000

Analisis Penerapan Doktrin Business Judgment Rule Terhadap Keputusan Direktur Utama PT Krakatau Steel Tbk Dalam Kasus Pembangunan Blast Furnace Complex

In business activities in the form of a Company, there are often legal problems involving directors as a result of the decisions and policies they make in carrying out their duties and authority in the company. The Board of Directors is one of the most important organs in a Limited Liability Company whose duty is to run the company as stated in Law Number 40 of 2007 (UU PT) concerning Limited Liability Companies. In the event of a loss caused by the decision or policy, the board of directors can be sued personally either criminally or civilly. This research aims to analyze the case of former President Director of PT Krakatau Steel (KS) Fazwar Bujang in making decisions on the construction of the Blast Furnace Complex plant in 2011 which is considered to have harmed the state of Rp 2.3 trillion and USD 292 or up to Rp 6 trillion and has benefited the MCC Ceri consortium, a company from China and PT Krakatau Engineering and others. The first result shows that the business judgment rule doctrine is a concept in corporate law that provides protection to company directors regarding the decisions and policies they make, to ensure that directors can make decisions based on good faith, prudence, and the best interests of the company without having to be personally liable for losses that may arise from business decisions. In Indonesia, the business judgment rule doctrine is only regulated in UU PT, but it has not been regulated in the law completely. Second, in the case of the construction of PT Krakatau Steel's Blast Furnace Complex, the business judgment rule cannot be applied because the business policies taken do not meet the requirements of the business judgment rule stipulated in Article 97 paragraph (3) of the UU PT.

Crisis Communication Management In Restructuring Programs

One of the company's heavy burdens is being inefficient with an excessive number of employees, who ultimately become unproductive because they exceed the company's capabilities, namely both organic and non-organic employees/outsourcing. The research aims to analyze the role and efforts made by the PTKS Corporate Communication Division in the Restructuring program. The theories used are co-orientation theory and adaptive structural theory (AST). The method used is a case study, with data collection techniques through observation and interviews with several credible informants who know and are involved in this problem. The research results show that the role of PTKS Corporate Communication in managing crisis communications tends to be limited by the principal director of PT Krakatau Steel in terms of communication and publication to the public, especially to the media, to ensure that restructuring program information is released from one door. In this case, the leadership of the PTKS President Director was very dominant; at that time, only a few employees were allowed to speak to the public. It shows that in this restructuring program, the role of the Corporate Communication Division is different from the task description set by the company.

Developing The Strategy for Steel Sales by Scenario Planning Approach

The steel industry, often regarded as the mother of industry, holds a pivotal role in fostering national economic independence and supporting vital infrastructure projects. In Indonesia, the development of the steel industry stands as a key indicator of industrial advancement. However, the landscape has evolved dramatically, with escalating competition not just from PT Krakatau Steel but also from numerous emerging competitors producing similar products. This dynamic situation demands an aggressive sales strategy to secure market dominance, especially given the challenges posed by both local and international competitors. Addressing this, PT Krakatau Steel faces the essential question of how to optimize steel sales, approaching or even matching the plant's installed capacity, amidst this competitive environment. The solution lies in proactive strategic planning, which involves a meticulous analysis of both external and internal factors. Recognizing the need for foresight, the company has employed scenario planning, envisioning potential futures for the steel industry. By considering variables like raw material prices and government policies, four scenarios emerged: Armageddon, The King, The King's Speech, and Cast Away. Each scenario prompts a specific set of strategies and actions. Moreover, the company has established early warning systems to discern which scenario might unfold, enabling timely and precise responses. This forward-thinking approach culminated in a comprehensive strategic plan designed to guide PT Krakatau Steel through the complexities and uncertainties of the business landscape over the next seven years.

Supplier's selection of plate material using analytical hierarchy process and additive ratio assessment methods

PT PAL Indonesia (PERSERO) is among the prominent shipyard companies in Indonesia that currently employs a simplistic supplier selection weighting system, prioritizing low prices and material specification conformity. This approach often leads to subjective assessments, making it challenging for the company to identify suitable suppliers from a large pool. Therefore, this study proposed a methodology to enhance supplier selection by incorporating additional criteria based on Dickson's criteria and company policies. The Analytical Hierarchy Process (AHP) and Additive Ratio Assessment (ARAS) methods were utilized for this purpose. The findings indicate that PT Krakatau Steel (A1) emerges as the top-ranked supplier with a Ki value of 0.19, followed by PT Diansakti Sejahtera (A5) in second place with a Ki value of 0.157, and PT Gunawan Dianjaya Steel (A3) in third place with a Ki value of 0.152. PT Jastindo Raya (A4) secures the fourth position with a Ki value of 0.151, while PT Gunung Raja Paksi (A2) takes the fifth and final spot with a Ki value of 0.15. This research helps the company effectively select the best suppliers, particularly in the procurement sector, by employing the AHP-ARAS method and considering Dickson's criteria, thereby addressing existing gaps the company encounters.

Transaksi Derivatif Lindung Nilai (Hedging) Pada PT. Krakatau Steel (Persero) Tbk

The purpose of this research is to learn more about PT Krakatau Steel (Persero) Tbk's (the company under investigation) use of derivative hedging transactions. In this study, content analysis was applied as a qualitative methodology. The 2020 financial statements are the data source for this study. According to the data, PT Krakatau Steel (Persero) Tbk makes use of derivative instruments as a form of risk management. Swaps, spot trades, forward contracts, and options are all examples of derivative transactions. The corporation also employs derivative instruments to reduce exposure to uncertainty. Due to the size of its operations, PT Krakatau Steel (Persero) Tbk is a prime candidate for the usage of derivative instruments. Companies of PT Krakatau Steel (Persero) Tbk's size typically have the financial resources to incur all the costs necessary to use derivatives in order to reap the economic benefits they provide. The hedging effect is expected by the company to be able to mitigate exchange rate risks and price fluctuations. Therefore, hedging can make it easier for companies to make funding plans and buying and selling transactions carried out by companies.

Financial Distress and the Commitment to Promoting Innovation in State-Owned Enterprises: A Critical Perspective

Financial distress in State-Owned Enterprises (SOEs) has been a problematic issue for a long time. By 2020, the total debt of SOEs in Indonesia reach 1.682 trillion Rupiahs, whereas 68% out of all SOEs that receive state capital injections are facing bankruptcy. However, a more critical perspective still needs to investigate how commitment to promoting innovation relates to financial distress in SOEs. The existing studies of financial distress in SOEs have mainly focused on analyzing technical and structural factors and the predictive models using company financial indicators. This study aims to analyze the financial distress and innovation in SOEs critically. This study uses official data of PT Krakatau Steel from 2015-2020 and employs the combined analysis method. Quantitative regression analysis analyzes the company's financial distress throughout the period. In contrast, qualitative content analysis analyzes the relevance of the company's innovation commitment in the same period. The study shows that apart from ineffective capital structure decisions, low commitment to innovation is an important factor influencing financial distress in SOEs. The prospect of restructuring as a short-term strategy is also discussed.

Analisis Objek Vital, Pengamanan File, dan Pengamanan Cyber Pada PT. Krakatau Steel Cilegon

Acts of theft at PT Krakatau Steel Cilegon can negatively affect the company's production and operations. Theft activities can also threaten industry sustainability, disrupt supply chains, and affect price stability. So that it can create security vulnerabilities, both in terms of strategic information, as well as in maintaining the security of physical facilities and employees. Cases of theft of national vital objects have increased in recent years. Theft can be committed by internal or external parties, including employees, contractors, or other parties. The motivation for theft can be varied, ranging from gaining profit, to obtaining sensitive information. File security and cyber security need to be carried out by the company PT Krakatau Steel Cilegon to handle cases of theft of the company's physical assets.

ANALISIS FINANCIAL DISTRESS MENGGUNAKAN MODEL ZMIJEWSKI X-SCORE PADA PERUSAHAAN BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA

This study aims to find out how financial distress is in state-owned companies listed on the Indonesia Stock Exchange using the Zmijewski X-Score model. The research method used is a descriptive research method with qualitative analysis data processing techniques from financial report data. The results showed that there were three state-owned companies experiencing financial distress, namely PT Waskita Karya (Persero) Tbk. in 2019 and 2020, PT Krakatau Steel (Persero) Tbk. in 2018, 2019 and 2020, as well as PT Jasa Marga (Persero) Tbk. in 2020. While the remaining five state-owned companies do not experience financial distress or are in the healthy category, namely PT Perusahaan Gas Negara (Persero) Tbk., PT Kimia Farma (Persero) Tbk., PT Aneka Tambang (Persero) Tbk., PT Semen Baturaja (Persero) Tbk., and PT Telekomunikasi Indonesia (Persero) Tbk. Keywords : Financial Distress, Zmijewski X-Score Model

The Effect of Alkali Activator Ratio on Mechanical Properties Geopolymer Concrete Based on Ground Granulated Blast Furnace Slag

Cement is the primary material of concrete. In the calcination process during cement manufacturing, 0.869 tons of CO2 gas are produced for every 1 ton of clinker. That process affects global climate change. This condition causes a new technology called geopolymer concrete. Geopolymer concrete substitutes cement with material that reacts in an alkali activator. PT Krakatau Steel in West Java, manufacturing iron steel with a blast furnace, produces large quantities of waste (slag) of 80 tons/hour. The blast furnace slag contains SiO2and Al2O3is called GGBFS (Ground Granulated Blast Furnace Slag). GGBFS can react with an alkali activator, which can be a substitute cement. This research was carried out using GGBFS as a base for geopolymer concrete. This research wants to know the effect of the alkali activator ratio on the mechanical properties of geopolymer concrete based on GGBFS. The concrete specimen was made with ratios alkali activator of 5:2, 4:2, and 3:2. The alkaline liquids used in this research are sodium hydroxide (NaOH) and sodium silicate (Na2SiO3) with a concentration of 8M. The curing process in this experiment is about 24-hour dry curing at a temperature of 60oC. The mechanical properties of concrete showed that 5:2 obtained the highest compressive strength, 57.65 MPa (at 7 days) and 58.48 MPa (at 28 days), and modulus elasticity was 31815.92 MPa, split tensile strength was 2.74 MPa, and modulus of rupture was 3.87 MPa.

ANALISIS RASIO LIKUIDITAS, RASIO SOLVABILITAS DAN RASIO PROFITABILITAS GUNA MENGUKUR KINERJA KEUANGAN PT. KRAKATAU STEEL (PERSERO) TBK TAHUN 2019-2021

This research aims to be able to find out the financial performance of one of the state-owned enterprises (SOEs) which has recently become a hot topic of public discussion because it has managed to pay its debts even though it has suffered losses for many years, namely PT Krakatau Steel (Persero) Tbk. The analysis media used is the ratio of liquidity, solvency and profitability. The data sources used in this observation are financial position statements (balance sheets) and profit and loss statements of PT. PT. Krakatau Steel (Persero) Tbk from 2019-2021 obtained from IDX (Indonesia Stock Exchange). Based on the results of this study liquidity levels, Current Ratio and Quick Rastio showed fluctuation conditions while Cash Ratio showed an increase every year. The solvency level, Debt to Assets Ratio indicates solvable conditions, while Debt to Equity Ratio describes an insolvable state. And the degree of profitability, Gross Profit Margin is afluctuation of Net Profit Margin shows an increase every year,. Return On Assets shows an increase every year and Return On Equity shows an increase every year.

Bankruptcy Prediction Analysis Using the Springate and Zmijewski Methods at PT Krakatau Steel (Persero) Tbk.

PT. Krakatau Steel (Persero) Tbk is the first steel-producing industry in Indonesia and was founded in 1970. In researching the company, two methods were used to predict the potential for bankruptcy: the Springate and Zmijewski methods. This type of research is descriptive research. The data used in this study is secondary data from PT Krakatau Steel (Persero) Tbk for the period 2016-2021. The results of this study indicate that based on the Springate method, PT. Krakatau Steel is predicted to go bankrupt. While the results obtained from the Zmijewski method show that from 2016 to 2018, PT. Krakatau Steel is predicted not to go bankrupt. However, in the calculations from 2019 to 2021, the Z value obtained is far above the value 0, which is the applicable cut-off value. This shows that PT. Krakatau Steel is predicted to go bankrupt.

Strategies for Increasing the Competitiveness of Krakatau Steel Company in The Free Trade Area of Batam to Support the Defense Equipment

The steel plate market in the Batam Free Trade Zone is very large, namely 75% of the Indonesian market share. PT Krakatau Steel's steel plate products are not competitive in the Batam Free Trade Area, especially in terms of price and long delivery times. So, a strategy is needed to increase competitiveness. This type of research is a quasi-qualitative research method with interviews, questionnaires, observation, and literature study. In this study, there are two problem formulations, namely how to determine the criteria for competitiveness and how to improve the strategy for increasing the competitiveness of PT Krakatau Steel's steel plate in the Batam Free Trade Area. In determining the criteria for competitiveness, AHP analysis is used. For strategies to increase competitiveness using the SWOT-AHP analysis. The results showed that the criteria affecting the competitiveness of steel were Manufacture Strategy with a weighting value of 0.526 with sub-criteria for cost, quality, delivery, and flexibility. The SWOT analysis shows that the strategy currently used by PT Krakatau Steel is SO. Based on the results of the SWOT-AHP analysis research, it was found that the competitiveness of PT Krakatau Steel could still be improved with the ST strategy which was more relevant to the situation in the Batam Free Trade Area.

ANALISIS DAMPAK PENERBITAN OBLIGASI WAJIB KONVERSI (OWK) PT KRAKATAU STEEL TERHADAP EKONOMI PROVINSI BANTEN

This paper tries to analyze the impact of issuance of mandatory convertible bonds by PT Karakatau Steel to Banten Province’s Economics using the 2015 Banten Province’s input-output model classification of 35 sectors. The pronouncement of the issuance of mandatory convertible bonds was made as the results of the General Meeting of Shareholders on November 24th, 2020 in Jakarta. The impact of covid-19 was also felt by national steel industries including PT Karakatu Steel, where there is a decline in demand for national steel products by up to 50%. As a result of the reduced demand, many national steel industry operations have been hit and are experiencing financial difficulties. With the issuance of OWK by PT Krakatau Steel from Government Investment in the framework of this PEN Program, it is hoped that the wheels of the national economy can rise again, especially for the province of Banten where PT Karakatu Steel is located.

Konflik Peran Ganda Dan Manajemen Stres Kerja Karyawan Wanita Di PT Krakatau Steel (Persero) Tbk

The dual role experienced by female employees can create stress which, if it happens continuously, will interfere with employee productivity and performance in the company. This study aims to determine the effect of work family conflict on employee performance through job stress management as an intervening variable and social support as a moderating variable. The research was conducted on women employees at PT Krakatau Steel (Persero) Tbk with a total sample of 100 people. The data analysis in this study used the Structural Equation Modeling approach which was processed by SmartPLS program. From the research conducted, it is concluded that 1) work family conflict has a positive and significant effect on employee performance, 2) work family conflict has a positive and significant effect on work stress management, 3) job stress management has a positive and significant effect on employee performance, 4) social support does not moderate the relationship of work family conflict to job stress management, 5) social support weakens the relationship of work family conflict to employee performance.

Increased Durability of Concrete Against High Temperatures due to Fire with Ground Granulated Blast Furnace Slag

This paper describes experimental results that focus on impacts of elevated temperature on concrete with GGBFS. GGBFS from waste of steel factory PT Krakatau Steel Tbk. has been discovered to be appropriate for geopolymer cement as substitute for cement in concrete. Normal concrete and GGBFS concrete beams (150×150×750mm) and cylindrical (150×300mm) with 40% GGBFS content as substitute of cement weight were burned for two hours, which the first beam was burned at 600°C, second beam at 700°C and third beam at 800°C. After cooling to room temperature, cylindrical and beams were tested. Compressive strength, modulus of elasticity and flexural strength were examined and compared. The results show that GGBFS increased durability of concrete and might be utilized in applications including elevated temperatures. High temperature exposure causes compressive strength of normal concrete decreased extremely up to 69.08%, compared to GGBFS concrete only 46.21%. Flexural strength decreased to 30.37% when the temperature rises to 700°C. Furthermore, it decreased significantly to 50.82% when the temperature reached 800°C.