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All Journal Journal of Economic, Bussines and Accounting (COSTING) Journal Integration of Management Studies
Nur Budi Mulyono
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Optimizing Inventory Management of MFD Studio To Reduce The High Lost Sales Raka Aditya Prayoga; Nur Budi Mulyono
Journal Integration of Management Studies Vol. 2 No. 1 (2024)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v2i1.135

Abstract

This research delves into optimizing inventory management at MFD Studio by implementing demand forecasting to mitigate lost sales. Notably, the company has encountered a significant loss of sales, approximately 31.26% of the revenue generated by their flagship product, Outer, which has consistently held the position of the best-seller from 2021 to 2023, contributing approximately 60% to MFD Studio's overall product line during this period. The research aims to enhance inventory management efficiency by employing demand forecasting techniques. The methodology includes a thorough literature review, analysis of root causes, and conceptual framework development. The findings underscore the substantial impact of demand forecasting on inventory management, leading to a noteworthy reduction in lost sales. The study advocates for adopting a quantitative approach to demand forecasting, explicitly endorsing the ARIMA, Holt, and Winter models. Notably, the ARIMA model stands out with the lowest error, boasting a 0.0059 RMSE value, 0.0025 MAE value, and 0.0363 MAPE value. The forecast generated by the ARIMA model is anticipated to diminish the likelihood of future lost sales to 5.5%, representing a substantial decrease from the initial 31.26%. In conclusion, this research underscores the pivotal role of demand forecasting as a crucial tool for businesses, particularly in similar industries, to enhance inventory management and curtail lost sales. The practical recommendations contribute significantly to inventory management, offering actionable insights for businesses seeking to optimize their inventory processes.
ENHANCING OVERBURDEN PRODUCTION ACHIEVEMENT THROUGH LEAN SIX SIGMA: A CASE ANALYSIS OF PIT WEST MHY MINING OPERATIONS AT PT ABC BY PT XYZ Kevin Satrio Adiguna; Nur Budi Mulyono
Journal of Economic, Bussines and Accounting (COSTING) Vol. 8 No. 4 (2025): COSTING : Journal of Economic, Bussines and Accounting
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/awby0q72

Abstract

This research examines the persistent problem of underachievement in overburden (OB) production at Pit West MHY, part of PT ABC’s mining operations, where actual production averaged only 63% of the planned target of Q1 2025. Overburden removal at this site is managed by PT XYZ as the mining contractor. Applying the Lean Six Sigma DMAIC framework, this research systematically identified and analyzed operational inefficiencies contributing to production shortfalls, including long hauling roads slippery after rain, lack of road maintainance (RM) equipment, hauling road damage, truck’s long cycle time, delays during shift changes, limited number of dozing unit at disposal, and queuing at loading fronts. Data sources included internal production reports, time studies, loss time records, and structured discussions with the supervisory team of PT ABC and operational staff of PT XYZ to confirm root causes. Various Lean Six Sigma tools, such as Pareto analysis, time studies, hypothesis testing, cause-and-effect diagrams, and field observations, were used to identify, analyze, and validate these root causes. Targeted improvement actions were implemented, such as addition of RM unit, hot seat change shift procedures, partial resurfacing of critical hauling road segments, additional dozer allocation to improve disposal readiness, and truck fleet split strategies to reduce congestion at loading points. As a result, average daily production achievement increased significantly to over 102% of the target on April 2025. To maintain these gains, standardized daily inspections using Condition Index forms for Haul Road, Front Loading, and Disposal areas were adopted as part of routine operational controls. This research shows that applying the Lean Six Sigma approach can deliver practical and measurable improvements to production reliability in mining operations.
Co-Authors Kevin Satrio Adiguna Raka Aditya Prayoga