Raw Material Inventory Research Articles

Application and practice of LILCEO sintering proportion optimization algorithm in sintering plant

Purpose To ensure the stable operation of ironmaking process and the quality and output of sinter, the multi-objective optimization of sintering machine batching process was carried out. Design/methodology/approach The purpose of this study is to establish a multi-objective optimization model with iron taste content and batch cost as targets, constrained by field process requirements and sinter quality standards, and to propose an improved balance optimizer algorithm (LILCEO) based on a lens imaging anti-learning mechanism and a population redundancy error correction mechanism. In this method, the lens imaging inverse learning strategy is introduced to initialize the population, improve the population diversity in the early iteration period, avoid falling into local optimal in the late iteration period and improve the population redundancy error correction mechanism to accelerate the convergence rate in the early iteration period. Findings By selecting nine standard test functions of BT series for simulation experiments, and comparing with NSGA-?, MOEAD, EO, LMOCSO, NMPSO and other mainstream optimization algorithms, the experimental results verify the superior performance of the improved algorithm. The results show that the algorithm can effectively reduce the cost of sintering ingredients while ensuring the iron taste of sinter, which is of great significance for the comprehensive utilization and quality assurance of sinter iron ore resources. Originality/value An optimization model with dual objectives of TFe content and raw material cost was developed taking into account the chemical composition and quality indicators required by the blast furnace as well as factors such as raw material inventory and cost constraints. This model was used to adjust and optimize the sintering raw material ratio. Addressing the limitations of existing optimization algorithms for sintering raw materials including low convergence accuracy slow speed limited initial solution production and difficulty in practical application we proposed the LILCEO algorithm. Comparative tests with NSGA-III MOEAD EO LMOCSO and NMPSO algorithms demonstrated the superiority of the proposed algorithm. Practical applications showed that the proposed method effectively overcomes many limitations of the current manual raw material ratio model providing scientific and stable decision-making guidance for sintering production operations.

MONITORING AND EVALUATION OF STRIPPING : RICE SEED SUPPLY

Raw material inventory stands as the largest asset within a company's holdings. However, discrepancies arise within the rice seed inventory, diverging from government accounting standards, alongside instances of double recording of income from rice seed sales. This research aims to address these issues. Employing a descriptive research method, the study focuses on work units at Subang The Large Testing Center For Standard Rice Instruments, with 4 respondents: the Warehouse Section, Administration Section, Inventory Operator, and Receipt Treasurer. Findings reveal that the The Large Testing Center For Standard Rice Instruments categorizes seed supplies as raw material, when they should be classified as animal and plant supplies, intended for sale or distribution to the public. Moreover, the rationale behind the double recording of self-produced rice seed supplies lacks presentation at production cost. Consequently, it is advised to record inventory in process and reclassify it within the inventory of animals/plants designated for sale or distribution to the public, and necessary monitoring and evaluation of the socialization of the Circular Letter of the Secretary General of the Ministry of Agriculture Number B-5928/PL.210/A/12/2018 dated 31 December 2018.

Sustainable Operation and Management of a Dynamic Supply Chain under the Framework of a Community with a Shared Future for Mankind

The values of a community with a shared future for mankind include the views of common interests, sustainable development, and global governance. This article will fully consider introducing the value concept of a community with a shared future into the operation and management of dynamic supply chains. Based on the optimal information fusion mechanism of artificial intelligence, this article aims to examine the operation and management of dynamic supply chains within the framework of a community with a shared future for mankind. The core idea is to consider the common interests among enterprises, establish a global collaborative operation concept for upstream, midstream, and downstream enterprises, and achieve the goal of sustainable development. Firstly, a type of composite dynamic supply chain model is considered, in which the total inventory of each node in the supply chain is further subdivided into raw material inventory and finished product inventory. At the same time, we have considered factors such as the signing of procurement contracts between core enterprises and upstream enterprises, as well as the signing of supply contracts between core enterprises and downstream enterprises. Secondly, the static and dynamic monitoring information of the enterprise has been established. We use steady-state Kalman filtering theory to obtain dynamic reference signals for upstream enterprises, core enterprises, and downstream enterprises. Based on the optimal information fusion processing mechanism of artificial intelligence, the coefficient weighting method is used to obtain the optimal fusion signals of upstream enterprises, core enterprises, and downstream enterprises. Once again, through high-quality switching strategies, enterprises can achieve in-order switching, improve production efficiency, reduce downtime, enhance their competitiveness and responsiveness, and transform the dynamic supply chain, including order switching, into a discrete-time linear switching system for processing. Fourthly, sufficient conditions, robustness analysis results, and inventory control criteria for the solvability of dynamic supply chain H∞ with order switching are provided. Finally, data analysis is conducted using historical order information from three fruit companies to verify the validity and feasibility of the conclusions in this article and to improve the performance of the dynamic supply chain system. The research findings of this article enrich the exploration of the operation and management of dynamic supply chains and the construction of a community with a shared future for mankind.

Inventory Planning of Raw Materials for Furniture Products (Case Study: CV XYZ Furniture)

The burgeoning industrial sector in Indonesia has intensified competition among businesses vying for market share. The furniture industry is a prime example of this dynamic landscape. To expand their market reach, companies must demonstrate their ability to fulfill every consumer demand. Failure to meet these expectations will prompt consumers to seek alternatives. One crucial factor in meeting consumer demands is product availability, which is directly influenced by the availability of raw materials within the company. CV XYZ Furniture, a furniture company based in Padang City, exemplifies this challenge. The company produces a diverse range of furniture, primarily utilizing rattan as its raw material. However, CV XYZ Furniture currently lacks a structured inventory planning method for raw materials, resulting in excess inventory for each period. To address this issue, this research aims to establish an optimized inventory planning strategy for raw materials used in furniture production at CV XYZ Furniture. The continuous review system method serves as the foundation for this endeavor. The research outcomes encompass the determination of optimal demand quantity, reorder point, and safety stock. The implementation of the continuous review system model yielded a significant reduction in total inventory costs, amounting to Rp8,625,594 or 2.03%. It can be proven that the continuous review system model is suitable for calculating raw material inventory at CV XYZ Furniture for raw material planning in the following years.

Analisis Penerapan Sistem Informasi Akuntansi dan Pengendalian Internal Persediaan Bahan Baku pada Coffee Station

This research was conducted at a company engaged in manufacturing, called Coffee Station. This research aims to find out how the accounting information system is implemented and the implementation of internal control of raw material inventory at the Coffee Station. This research method uses a qualitative method with a descriptive approach. Data collection techniques used were documentation and interviews with several employees at the Coffee Station. The results of this research indicate that the implementation of the raw material inventory accounting information system is still carried out manually, due to human resources who are less competent in the fields of accounting and computerization. However, they have implemented good procedures so that there is no shortage of raw material supplies. The implementation of internal control over raw material supplies has not been fully effective. Company management has implemented several internal control concepts and principles, however manual recording can pose risks to the company and in control activities there are still dual functions in the purchasing and recording of raw materials.

Implementation of the FIFO System in the Management of Raw Material Inventory in the Kitchen at R-Gina Hotel Pemalang

Implementation of the FIFO System in the Management of Raw Material Inventory in the Kitchen at R-Gina Hotel Pemalang

Optimizing Raw Material Inventory Control with Continuous and Periodic Review

PT XYZ is a company that operates in the field of plywood processing with various variations that produce products every day. Plywood or plywood is the product with the most demand every month. This company experiences problems, namely ordering raw materials that are uncertain, ordering raw materials because of probabilistic demand with an uncertain period and the quantity of raw materials that does not match the needs used in the production process, so that it often experiences overstock and stockouts. This research aims to control the optimal supply of sengon wood at PT. XYZ by comparing the company's method with the continuous review (Q) back order method and the periodic review (P) back order method to obtain the minimum total inventory costs. Based on calculations using the company method, the total inventory cost is IDR 32,502,564,700 and the minimum total inventory cost is obtained using the continuous review (Q) back order method of IDR IDR 28,829,527,844. The forecasted demand for sengon wood from May 2024 to April 2025 is 42,109 m3. The company made a total order of 944 m3 and a reorder point of 146 m3, so the total inventory cost generated was IDR 36,151,230,302.

Development of IoT Kaizen System for Smart Lean Raw Material Inventory Management: A case study at an SME factory in Malaysia

Effective Raw Material Inventory Management is crucial for overall company performance, demanding significant improvements. In the current technologically advanced landscape, the imperative adoption of the Internet of Things (IoT) is crucial for propelling inventory management forward and amplifying the visibility of raw materials. This case study is dedicated to developing an IoT Kaizen System, meticulously aligned with the Smart Lean Factory Inventory Control Framework, tailored to enhance Raw Material Inventory Management within an SME factory in Seremban, Negeri Sembilan. With a focal point on Loft Layer materials, the study encompasses Raw Material Ordering, Receiving, and Charging Out Log operations. Leveraging web-based tools such as Google Sheets, AppSheet, and Looker Studio, the system adeptly digitizes manual processes, tracking real-time data and integrating data visualization tools for informed decision-making. Implemented within a genuine industrial context, the project is intricately tailored to meet the unique preferences and requirements of the company, ensuring a customized solution that aligns with industry standards and reflects specific operational nuances. The resulting digital system introduces a structured, simplified, and efficient approach to Raw Material Inventory Management, injecting enhanced operational control and adaptability into the company’s workflow. Through the system implementation, warehouse space was reduced by 15%, order processing was done fully digitally that achieve zero case of ordering error and achieved zero case of material stock out. This system can adjust to what’s needed in modern manufacturing. It proves that using innovation and technology can make a business better by making things run more smoothly and helping with decision-making.

Optimizing Raw Material Inventory Control for Aluminum Wardrobes Using the Material Requirements Planning (MRP) Method: A Case Study on Amal Jaya SME

This study aims to analyze the implementation of Material Requirement Planning (MRP) method in controlling raw material inventory for aluminum wardrobe production in Amal Jaya SME. The inability to accurately predict the average number of customer orders each month indicates unfulfilled consumer demand. Therefore, effective raw material control becomes crucial to ensure availability in accordance with demand. The objectives of this research are to evaluate the management of raw materials using the MRP method and identify its impact on cost efficiency of raw materials in the production process. Additionally, this study aims to optimize raw material inventory to maximize customer demand fulfillment. The MRP method was chosen as the primary approach in this research. The results of the analysis indicate that the implementation of MRP method with Lot for Lot (LFL) lot sizing is the most efficient choice in controlling raw material inventory. Based on calculations using lot-for-lot and Economic Order Quantity (EOQ) methods, the most efficient inventory expenditure incurred by the company amounts to Rp. 26,274,840. Thus, ordering raw materials with Lot for Lot lot sizing can be used as a solution to optimize the control of aluminum wardrobe inventory in Amal Jaya SME.

Optimization of Raw Material Inventory using Always Better Control (ABC) Analysis and Economic Order Quantity (EOQ) Method Approach in the Warehouse of a Bolt Manufacturing Factory in Indonesia

There is a problem in the raw material procurement process at the Contractor Company, such as running out and excess stock of raw materials, as well as difficulties in determining how many raw materials to order that meet the company's economic value. Running out of raw material stock results in delays in production activities, while excess raw material stock can fill warehouse capacity, thereby increasing storage costs. To overcome this problem, research was carried out using a quantitative descriptive method to determine the level of production cost efficiency and production effectiveness level in order to achieve optimization of raw material supplies using Always Better Control (ABC) Analysis and the Economic Order Quantity (EOQ) Method at Bolt Companies. ABC analysis plays a role in determining which raw materials have the highest level of demand and the EOQ method plays a role in determining the amount of raw materials to be ordered in order to meet the company's economic value. The research results show that the combination of ABC Analysis and EOQ Method can reduce ordering costs and raw material inventory. There are 4 items out of 10 raw material items that are included in Category A or the most prioritized category. From the results of calculations using the EOQ method, the Bolt Company can save total orders and raw material inventory (TIC) in the period January to December 2023 amounting to IDR 2,147,403,-.

Analisis Pengendalian Persediaan Bahan Baku Menggunakan Metode Material Requirement Planning (MRP) Pada Risma Brownies & Cake Gemolong

Risma Brownies & Cake Gemolong is a business operating in the food industry. The problem that the company is hoping for is whether control of raw material inventory at Risma Brownies & Cake Gemolong is efficient and whether the MRP method can make control of raw material inventory at Risma Brownies & Cake Gemolong efficient. The aim of this research is to analyze the efficiency of raw material inventory control at Risma Brownies & Cake Gemolong and to analyze the application of the MRP method to make raw material inventory control efficient at Risma Brownies & Cake Gemolong. The method used in this research is the Material Requirement Planning (MRP) method, with data analysis techniques using Lot For Lot (LFL), Economic Order Quantity (EOQ), and Period Order Quantity (POQ) techniques. The data required is a general description of Risma Brownies & Cake, organizational structure, production process, raw material usage data, raw material inventory data, holding cost data, and ordering cost data. Data collection techniques using interviews. Based on the results of the research that has been carried out, the researcher concluded that the most efficient method applied at Risma Brownies & Cake is the Period Order Quantity (POQ) method. The LFL method produces inventory costs of IDR 468,000, the EOQ method produces inventory costs of IDR 3,663,000, while the POQ method can produce inventory costs of IDR 468,000

Analisis Manajemen Rantai Pasok (SCM) UMKM Gethuk Lindri di Desa Kertosari

The supply chain is a network of companies that work together to produce and deliver products to end users. UMKM Getuk Lindri Bu Umi has problems related to the management of cassava raw material inventory used in Getuk Lindri production, namely the supply of raw materials, storage of raw materials, and product marketing. The purpose of this study is to analyze the supply chain management (SCM) used by MSMEs in carrying out their production processes to be effective and efficient in achieving predetermined goals. The method used in this research is a qualitative method carried out as much as observation and direct observation of MSME owners. The solutions offered include establishing communication with suppliers or adding new suppliers who are more cooperative, collaborating with universities to get better storage technology.

Analysis of Raw Material Inventory Control with Using Economic Order Quantity (EOQ) Method

Analysis of Raw Material Inventory Control with Using Economic Order Quantity (EOQ) Method

Analisis Pengadaan Persediaan Bahan Baku Pada Umkm Otr Laundry Dengan Menerapkan Metode Perhitungan Economic Order Quantity (EOQ)

This study aims to determine and analyze the control of the main raw material inventory at OTR Laundry with an inventory management policy using the Economic Order Quantity (EOQ) method. The study focuses on inventory management at OTR Laundry located at Jalan Ciseke, Jatinangor, Sumedang. This study uses a quantitative approach. Primary data in this study were obtained through in-depth interviews with the owner of OTR Laundry and direct observation in the field. Secondary data were obtained from inventory records and the company's financial reports. Data collection techniques used were interviews, observations, and documentation. Data analysis was carried out by calculating optimal inventory requirements using the EOQ method and comparing them with the inventory policy implemented by OTR Laundry. The calculation results show a comparison between the total cost of fragrance inventory calculated based on the OTR Laundry policy and the EOQ calculation method. Savings using the EOQ method compared to the OTR Laundry policy on inventory cost expenditure amounted to Rp313,764. The results of this study are expected to provide recommendations for OTR Laundry in increasing the efficiency of managing the main raw material inventory and reducing operational costs.

Analisis Pengendalian Persediaan dengan Metode Economic Order Quantity (EOQ) untuk Meningkatkan Efisiensi Biaya Persediaan Bahan Baku (Studi Kasus pada Maula Hijab Yogyakarta)

The purpose of this study was to analyze inventory control using the Economic order quantity (EOQ) method to increase the cost efficiency of raw material inventory at Maula Hijab Yogyakarta. This study uses a qualitative approach with data collection methods in the form of interviews, observations, and documentation. The data analysis technique used is a comparative method by comparing the Economic Order Quantity (EOQ) method with the method used by the company to control inventory. The results showed that the application of the Economic Order Quantity (EOQ) method in controlling raw material inventory can minimize the total inventory cost of Rp. 29.713.830 with a total purchase of 84.561 yards each time with a purchase frequency of 6 times. The conclusion of this study shows that the application of the Economic Order Quantity (EOQ) method shows the number of orders that are more economical and can streamline the cost of raw material inventory than the method used by company.

PENGARUH KAPASITAS MESIN DAN JUMLAH PERSEDIAAN BAHAN BAKU TERHADAP VOLUME PRODUKSI

Background of this research based on data’s observational at a company relating to capacity, amount of raw material inventory and production volume where the phenomena that occur still need to be optimized. This research uses a quantitative approach and uses primary data as a data source obtained from the results of questionnaires distributed to respondents related to activities in accordance with the specified research variables. The analytical methods used are instrument testing, classical assumption testing, multiple regression analysis, hypothesis testing and coefficient of determination (Adjusted R2). The results of this research show that:1. The machine capacity variable partially has a positive and significant effect on production volume at PT. Gema Graha Saran, Tbk Bekasi Regency.2. The raw material inventory variable partially has a positive and significant effect on production volume at PT. Gema Graha Sarana, Tbk Bekasi Regency.3. The variables of machine capacity and raw material inventory simultaneously have a positive and significant effect on production volume at PT. Gema Graha Sarana, Tbk Bekasi Regency Keywords :Raw Material Inventory, Machine Capacity, and Production Volume

Efficiency Analysis Of Raw Material Inventory Using The Economic Order Quantity (EOQ) Method At Kanoko Coffee Dago

This research aims to determine and analyze the inventory control of raw materials and measure the cost efficiency of production carried out by Kanoko Coffee Dago from September 2023 to December 2023. The research methodology is qualitative, utilizing data collection techniques involving primary and secondary data through observation, interviews, documentation, and literature review. The analysis focuses on the production reports of the four months by comparing the Economic Order Quantity (EOQ) method with the conventional method already applied by the company. The results of the analysis using Economic Order Quantity (EOQ) indicate that the total cost of raw material inventory incurred by the company is higher compared to the total inventory cost calculated using the EOQ method. Therefore, the researcher recommends that the company use the calculation from the EOQ method to save costs on raw material inventory, thereby enhancing production cost efficiency.

Material Requirement Planning of Choco Roll Product with Least Total Cost (LTC) and Least Unit Cost (LUC) Method at PT. XYZ

PT. XYZ is one of corporate company engaged in the snack industry. One of PT. XYZ fast moving product is Choco Roll. Choco Roll product have many forming raw material. There is around 20 raw material and packaging material to make 1 box of Choco Roll. Problem that aries at PT. XYZ is in the the supply of raw materials related to the scheduling of ordering raw materials. The company wants to store enough raw material inventory to be able to immediately fulfill all production processes, but this method is not effective and efficient because it will increase storage costs, expiration may occur, and there is a risk of price drops at any time. When a company wants to try to reduce costs by decrease the level of inventory of raw materials on hand, namely the inventory of raw materials that are already in the warehouse, but this condition will disrupt the production process if there are frequent shortages or stockouts of raw materials. Therefore to reduce the inventory cost, it needs to be make best planning in determining the number of ordered of raw material. The company must use a more scheduled raw requirements planning method to obtain a more optimal inventory cost. The purpose of this study is to determine the exact number quantity and order frequency to reduce inventory cost. This research uses lotting technique Least Total Cost (LTC) and Least Unit Cost (LUC) base on Material Requirement Planning (MRP) method. Based on the result of the Choco Roll demand from June 2022 to May 2023 obtained the total inventory cost of IDR 67,683.53 decrease by 25% to company real planning.

Analysis of Raw Material Inventory Control with A Tabular Approach and Formula Approach Economic Order Quantity (EOQ) to Optimize The Cost of Soybean Raw Material Inventory At The Rizqy Putra Fried Tofu Factory

Inventory management is a crucial aspect in the operations of the manufacturing industry, including in fried tofu factories such as the Rizqy Putra Fried Tofu Factory. The main raw material, namely soybeans, must be managed efficiently to ensure smooth production and minimize the costs incurred. This research aims to determine the inventory control of soybean raw materials applied by Rizqy Putra Fried Tofu Factory, the total inventory cost, and the optimal quantity of soybean raw material orders. This research is quantitative research with a comparative descriptive analysis. The data processed are the inventory purchase and usage reports of soybean raw materials at Rizqy Putra Fried Tofu Factory in 2023. The data analysis method used in this research includes two approaches: the tabular approach and the formula approach with the calculation technique of Economic Order Quantity (EOQ). Based on the results of the research, the inventory control method applied by Rizqy Putra Fried Tofu Factory is the traditional or conventional method, where the total inventory cost of soybean raw materials is Rp. 18,720,000 with details of storage costs amounting to Rp. 18,000,000 and ordering costs of Rp. 720,000 per year, and an ordering frequency of 48 times with an average order quantity of 5,875 kg. Meanwhile, according to the calculation of the formula approach EOQ, the optimal order quantity is 2,880 kg, with an ordering frequency of 24 times and the total inventory cost incurred is Rp. 734,387. The conclusion of this research indicates that based on the calculation of the EOQ formula approach, the total inventory cost of soybean raw materials is more optimal compared to the conventional method applied by Rizqy Putra Fried Tofu Factory.

Measurement of Raw Material Inventory Performance at Halal Frozen Food Business

Abstract Manufacturing companies often provide supplies of raw materials so that the production process runs smoothly. Initial observations on halal frozen food businesses that use chicken and shrimp as the main ingredients show that material procurement activities are carried out daily and materials are purchased more when prices on the market are down. The company’s historical data shows a shortage of chicken raw material supplies in April due to increased demand, while raw material supplies were insufficient, and raw material prices tended to be high. This research was conducted to measure the performance of raw material inventory at halal frozen food companies using the inventory turnover rate, inventory days of supply, and fill rate methods and to calculate the optimal amount of raw material inventory with EOQ, safety stock, and reorder point (ROP). The inventory turnover rate calculation for chicken raw materials shows the best value in June 2022 of 68.35, the results of the analysis of the best inventory turnover rate for shrimp raw materials in March 2022 are 68.79. The calculation of inventory days of supply for chicken raw materials shows the best value in December 2022 of 0.98 days, calculation of inventory days of supply for shrimp shows the best value in February 2023 of 0.91 days. The fill rate is 100%. The research results show that inventory performance in the halal frozen food business is good. To avoid raw material shortages in the future, companies can use the Economic Order Quantity guide in ordering raw materials.