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All Journal Journal of Social Research Journal Research of Social Science, Economics, and Management
Arvitrida , Niniet Indah
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Humanities Computer Science & IT Economics, Econometrics & Finance Education Environmental Science Social Sciences

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Inventory Management Of Gasoline Ron 92 And Gasoil 0,05% Sulphur With Monte Carlo Simulation Wibowo, Satriyo Hadi; Arvitrida , Niniet Indah
Journal of Social Research Vol. 4 No. 7 (2025): Journal of Social Research
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/josr.v4i7.2608

Abstract

Fuel (BBM) is a strategic commodity that plays a crucial role in supporting various economic sectors. PT XYZ, one of the fuel suppliers in Timor Leste, faces significant challenges in ensuring a stable and timely supply. Issues such as demand fluctuations, lead time uncertainty, and limited storage capacity often trigger stockout risks and additional operational costs such as demurrage. In 2023, PT XYZ recorded two stockout events and two potential demurrage occurrences, resulting in financial losses and missed sales opportunities. This study adopts a Monte Carlo simulation approach to model the variability of daily demand and lead time more realistically. Three inventory control methods are evaluated: the Min-Max method, the (s,Q) method, and the (s,S) method, across three demand scenarios: normal, +20% increase, and -15% decrease. Key performance indicators analyzed include Economic Order Quantity (EOQ), Safety Stock (SS), Reorder Point (ROP), total cost, and service level. The simulation was conducted over 851 days to reflect actual operational conditions. The results show that the Min-Max method performed best under the low-demand scenario, with the lowest total cost and no stockouts. The (s,Q) method provided the best balance between ordering frequency, operational cost, and service level in the normal demand scenario. Meanwhile, the (s,S) method demonstrated less efficient performance under the high-demand scenario due to higher stockouts and increased holding costs. These findings recommend adopting inventory control strategies that are adaptive to demand dynamics and consider storage capacity limitations to enhance PT XYZ’s fuel supply chain efficiency and resilience.
Risk Management Design For Light Vehicle Unit In Rental Company Munawar, Hanny Kanavika Rizky; Arvitrida , Niniet Indah
Journal Research of Social Science, Economics, and Management Vol. 4 No. 12 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v4i12.930

Abstract

This study aims to design risk management for a vehicle rental company in East Kalimantan using the Enterprise Risk Management (ERM) approach and the House of Risk (HOR) model. The transportation industry, particularly vehicle rentals, faces various risks that can disrupt the company's operations and performance. These risks include vehicle damage, delays in spare parts delivery, and payment issues from customers. This research will design Risk Management by applying Enterprise Risk Management (ERM) using the ISO 31000:2018 approach. In this study, the HOR method is used to identify, analyze, and prioritize risks and risk agents. This research combines the Failure Mode and Effect Analysis (FMEA) and Quality Function Deployment (QFD) methods to provide an integrated framework in risk management analysis. The results of the study indicate that the implementation of structured risk management can improve the company's operational effectiveness and efficiency. The proposed mitigation strategies include enhancing vehicle maintenance, staff training, and developing better monitoring systems. By implementing ERM and HOR, it is expected to manage risks more effectively, reduce the negative impact of occurring risks, and achieve the company's objectives more efficiently.
Risk Management Design For Light Vehicle Unit In Rental Company Munawar, Hanny Kanavika Rizky; Arvitrida , Niniet Indah
Journal Research of Social Science, Economics, and Management Vol. 4 No. 12 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v4i12.930

Abstract

This study aims to design risk management for a vehicle rental company in East Kalimantan using the Enterprise Risk Management (ERM) approach and the House of Risk (HOR) model. The transportation industry, particularly vehicle rentals, faces various risks that can disrupt the company's operations and performance. These risks include vehicle damage, delays in spare parts delivery, and payment issues from customers. This research will design Risk Management by applying Enterprise Risk Management (ERM) using the ISO 31000:2018 approach. In this study, the HOR method is used to identify, analyze, and prioritize risks and risk agents. This research combines the Failure Mode and Effect Analysis (FMEA) and Quality Function Deployment (QFD) methods to provide an integrated framework in risk management analysis. The results of the study indicate that the implementation of structured risk management can improve the company's operational effectiveness and efficiency. The proposed mitigation strategies include enhancing vehicle maintenance, staff training, and developing better monitoring systems. By implementing ERM and HOR, it is expected to manage risks more effectively, reduce the negative impact of occurring risks, and achieve the company's objectives more efficiently.
Co-Authors Munawar, Hanny Kanavika Rizky Wibowo, Satriyo Hadi