Inventory Determination Model For Packaging Materials With Various Demand Data Distributions In Chemical Company  

Oleh:

Hakim, Inaki Maulida ; Larassati, Putri

Jenis: Article from Proceeding
Dalam koleksi: Proceeding The 7th International Seminar on Industrial Engineering and Management (7th ISIEM) di Bali, March 11th – 13th, 2014, page PS 58-64.
Topik: Inventory systems; continuous review model; normal; uniform; exponential
Fulltext: Paper 47 Inaki Maulida Hakim UI.pdf (529.83KB)

Isi artikel

This research discusses about inventory management of packaging materials in chemical company. The company used periodic review model (P model) which cause low level of inventory and high inventory cost due to the not normally distributed demand data. Recently, the company decided to change the inventory control system to be a continuous review model. This esearch is conducted to determine the right reorder point and quantity order for each of the packaging materials as one of the requirement for continuous review model. This esearch also equipped with the analysis of total inventory cost between two types of continuous review models which are simple probabilistic model and Q model that consider three kinds of demand data distribution; normal, uniform, and exponential. Hadley Within iteration method is used to obtain the optimal inventory since the analytical method is hard to solve. After processing the data, it can be concluded that Q model can substitute the P model because it results in lower total inventory cost as much as 25.77% than the simple probabilistic model

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