A Multiple Items EPQ/EOQ Model for a Vendor and Multiple Buyers System with Considering Continuous and Discrete Demand Simultaneously

Jonrinaldi,; Rahman, Taufiq; Henmaidi,; Wirdianto, Eri; Zhang, D Z

doi:10.1088/1757-899x/319/1/012037

Cited by 4 publications

(5 citation statements)

References 17 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Pentico et al (2009) discuss how batching inventory can save on transport costs for NGOs, while Wild (2002) advocates for proper warehousing to minimize holding costs. Rahman et al(2018) stress the importance of reorder levels (ROL) for achieving optimal efficiency and effectiveness in human terrain organizations, while Rahman et al(2018) argue for moderate inventory levels to balance expenses and minimize lead times. The criticality of inventory management for firm viability is underscored by Salameh and Jaber (2000) who highlight the risks associated with mismanagement, such as space consumption and financial burden.…”

Section: Review Of Literaturementioning

confidence: 99%

Enhancing Economic Development through Inventory Management Optimization in Agro-based Industries in Bihar: A Comparative Study of EOQ and EPQ Models

2024

IJFMR

View full text Add to dashboard Cite

Inventory management is crucial for optimizing operational efficiency and cost-effectiveness in agro-based industries, particularly in regions like Bihar,known for their agricultural resources. This study compares the effectiveness of two inventory management models, the Economic Order Quantity (EOQ) and Economic Production Quantity (EPQ), in addressing the unique challenges faced by Bihar's agro-based industries. Data from Taruwar Agro Industries Private Limited in Ashiyana, Patna, use to calculate EOQ and EPQ values for three product categories: Tomato Chili, Peri Peri, and Punjabi Tadka. The study employs relevant formulas to compute optimal order quantities and total inventory costs, assuming constant demand, quality, price, holding costs, and ordering costs. Both the EOQ and EPQ models offered viable approaches to inventory optimization. EOQ focused on minimizing holding and ordering costs, while EPQ integrated production-related costs to optimize production flow. The study underscored the importance of aligning inventory management strategies with operational capabilities, market demand, and financial objectives. This study contributes to advancing theoretical understanding and practical applications of inventory management in agro-based economies like Bihar. Recommendations for empirical validation, contextual adaptation, technology integration, and long-term impact assessment are provided to enhance inventory management practices. Integration of the BCG matrix into decision-making processes offers a comprehensive approach to prioritizing inventory management strategies and guiding strategic implications.

show abstract

Section: Review Of Literaturementioning

confidence: 99%

Enhancing Economic Development through Inventory Management Optimization in Agro-based Industries in Bihar: A Comparative Study of EOQ and EPQ Models

2024

IJFMR

View full text Add to dashboard Cite

show abstract

“…Metode EOQ merupakan model persediaan sederhana yang bertujuan untuk menentukan ukuran pemesanan yang paling ekonomis yang dapat meminimasi biaya-biaya dalam persediaan [3,4]. Sementara itu, Joint Replenishment merupakan metode pemesanan beberapa item secara simultan sehingga dapat mengurangi biaya pemesanan [5].…”

Section: A Pemilihan Metodeunclassified

Evaluasi Model Perencanaan Persediaan Obat dengan Pendekatan Simulasi

Wirdianto

Meiyola

Milana

2019

INVOTEK

View full text Add to dashboard Cite

Permasalahan yang dihadapi apotek saat ini yaitu masalah persediaan obat dimana terdapat beberapa obat yang tidak bisa memenuhi kebutuhan konsumen dan terkadang persediaan obat mengalami kelebihan stok. Penelitian ini bertujuan untuk menentukan metode terbaik dalam menentukan kuantitas persediaan obat dengan kriteria service level tertinggi dan total cost terendah. Pengklasifikasian obat berdasarkan analisis ABC. Obat yang dipilih hanya obat yang masuk ke dalam kategori A dan 10 jenis obat termahal. Setelah itu dilakukan perhitungan nilai persediaan dengan menggunakan tiga metode yaitu EOQ, Joint Replenishment, dan Sistem (Q,r). Evaluasi untuk ketiga metode tersebut menggunakan pendekatan simulasi. Model simulasi ini dibangun dengan cara memasukkan pola-pola permintaan untuk masing-masing obat serta memasukkan nilai persediaan untuk masing-masing metode yang telah dihitung sebelumnya. Dari hasil perhitungan dengan pendekatan simulasi untuk masing-masing metode didapatkan perbandingan nilai total cost dan service level. Nilai service level tertinggi dan total cost terendah untuk hasil perhitungan dan hasil simulasi memiliki hasil yang sama yaitu metode Joint Replenishment.

show abstract

“…Eight papers referred to Omar et al [4] in their references: Cárdenas-Barrón [2], Chung and Cárdenas-Barrón [3], Wee et al [5,6], Cárdenas-Barrón et al [7], Khalilpourazari et al [8], Afshar-Nadjafi et al [9], and Jonrinaldi et al [10]. We can separate those eight papers into two groups.…”

Section: Introductionmentioning

confidence: 99%

“…We can separate those eight papers into two groups. e first group contains Wee et al [5,6], Cárdenas-Barrón et al [7], Khalilpourazari et al [8], Afshar-Nadjafi et al [9], and Jonrinaldi et al [10]. e second group contains Cárdenas-Barrón [2] and Chung and Cárdenas-Barrón [3].…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Solution Procedure for Inventory Models with Linear and Fixed Backorder Costs

Lin

2020

Mathematical Problems in Engineering

View full text Add to dashboard Cite

Several researchers applied the algebraic method to solve the optimal solution of EOQ and EPQ models with linear and fixed backorder costs. However, there are questionable derivations in their solution procedure such that researchers provided further examinations. We study two papers that are considered the same inventory models under different notation and slightly different objective functions to provide detailed discussions for their questionable results and our improvements.

show abstract

A Multiple Items EPQ/EOQ Model for a Vendor and Multiple Buyers System with Considering Continuous and Discrete Demand Simultaneously

Cited by 4 publications

References 17 publications

Enhancing Economic Development through Inventory Management Optimization in Agro-based Industries in Bihar: A Comparative Study of EOQ and EPQ Models

Enhancing Economic Development through Inventory Management Optimization in Agro-based Industries in Bihar: A Comparative Study of EOQ and EPQ Models

Evaluasi Model Perencanaan Persediaan Obat dengan Pendekatan Simulasi

Solution Procedure for Inventory Models with Linear and Fixed Backorder Costs

Contact Info

Product

Resources

About