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All Journal Journal of Research in Social Science and Humanities
Tamaputra, Reza Satria
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Religion Arts Humanities Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Social Sciences Other

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OPTIMIZING INVENTORY MANAGEMENT USING THE EOQ MODEL: CASE STUDY IN ONE OF THE BANKS IN INDONESIA Tamaputra, Reza Satria; Farmaciawaty, Desy Anisya
Journal of Research in Social Science and Humanities Vol 5, No 1 (2025)
Publisher : Utan Kayu Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47679/jrssh.v5i1.230

Abstract

Efficient inventory management is essential for maintaining operational excellence, particularly in the banking sector, where stock imbalances can disrupt workflows and impact service quality. This study examines inventory practices in of the Indonesia banking sector focusing on challenges like overstock and understock. Using the Economic Order Quantity (EOQ) model, the research determines optimal order quantities, safety stock, and reorder points for selected items. Analysis reveals that 27% of items were overstocked, incurring high holding costs, while understock situations disrupted operations. Root Cause Analysis (RCA) identified issues such as inefficient procurement processes and limited warehouse capacity. Recommendations include automation of inventory systems, improved procurement strategies, and optimized stock levels to enhance operational efficiency. These solutions contribute to reducing costs, improving service quality, and ensuring seamless operations.
Co-Authors Farmaciawaty, Desy Anisya