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All Journal Indonesian Journal of Innovation Studies RESWARA: Jurnal Riset Ilmu Teknik
Wardhani, Devira Kusuma
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Aerospace Engineering Automotive Engineering Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Control & Systems Engineering Education Electrical & Electronics Engineering Engineering Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Mechanical Engineering Transportation

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EOQ Optimization Revolutionizes Inventory Management, Delivering Cost Savings Globally: Optimalisasi EOQ Merevolusi Manajemen Inventaris, Menghasilkan Penghematan Biaya Secara Global Wardhani, Devira Kusuma; Sukmono, Tedjo
Indonesian Journal of Innovation Studies Vol. 25 No. 4 (2024): October
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijins.v25i4.1177

Abstract

Efficient inventory management is crucial for companies to minimize costs while ensuring adequate supply to meet demand. PT Samawa Tirta Alam, a bottled sweet drinking water company, faces significant inventory management issues, notably with refined sugar raw materials. High transportation costs and fluctuating demand contribute to excessive inventory accumulation and increased storage costs, necessitating an optimization strategy. This study implements the Economic Order Quantity (EOQ) method to address these challenges. Through a mixed-method approach, qualitative data were gathered via observations and interviews, while quantitative analysis utilized historical data to calculate optimal order quantities, frequencies, safety stock levels, and reorder points. Results demonstrate substantial cost savings, with optimal order quantities determined, reducing order frequencies from 12 to 2 times per year, and minimizing safety stock levels. The findings underscore the effectiveness of the EOQ method in enhancing cost-effectiveness and operational performance in raw material inventory management for similar companies. Highlights: 1. Cost Efficiency: EOQ method reduces total inventory costs effectively.2. Operational Precision: Minimizing safety stock enhances operational efficiency.3. Strategic Insight: Integrated approach provides practical solutions for inventory management challenges. Keywords: Inventory Management, Economic Order Quantity (EOQ), Cost Optimization, Raw Materials, Transportation Costs
Optimization of Inventory Control Using Economic Order Quantity and Safety Stock Approach Saputra, Dwi Putra; Wardhani, Devira Kusuma; Passon, Michael F.
RESWARA: Jurnal Riset Ilmu Teknik Vol. 2 No. 3 (2024): RESWARA: Jurnal Riset Ilmu Teknik, July 2024
Publisher : Lembaga Penelitian dan Pendidikan (LPP) Kalibra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/reswara.v2i3.378

Abstract

Effective inventory control plays a crucial role in ensuring operational efficiency and cost minimization, particularly in manufacturing, retail, and small–medium enterprises. Inefficient inventory policies often lead to excessive holding costs, frequent stockouts, and unstable production schedules. This study aims to optimize inventory control by integrating the Economic Order Quantity (EOQ) model with safety stock and reorder point approaches. The research adopts a quantitative descriptive design using secondary operational data derived from empirical case studies and prior applications in manufacturing firms, retail businesses, and small enterprises. Inventory parameters such as demand rate, ordering cost, holding cost, lead time, and service level were analyzed using EOQ-based mathematical formulations. The results demonstrate that the integrated EOQ and safety stock model significantly reduces total inventory costs while improving service levels and minimizing stockout risks. Comparative analysis with previous studies indicates consistency with earlier findings across different sectors, confirming the robustness of the model. The study contributes theoretically by consolidating deterministic and probabilistic EOQ perspectives and practically by providing a structured decision-making framework for inventory managers. The findings support the applicability of EOQ-based optimization as a cost-efficient and scalable inventory control strategy suitable for diverse industrial contexts.
Co-Authors Passon, Michael F. Saputra, Dwi Putra Tedjo Sukmono