Regression analysis as an alternative method of determining the Economic Order Quantity and Reorder Point

Milewski, Dariusz; Wiśniewski, Tomasz

doi:10.1016/j.heliyon.2022.e10643

Cited by 5 publications

(8 citation statements)

References 41 publications

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“…In many real-world systems, the complexity is too high to be directly evaluated. Therefore, problem-solving is often approached by simulating or imitating the system, which is known as simulation (Milewski & Wiśniewski, 2022). In simulation, computer programs are used to develop and evaluate models numerically, and data collection is conducted to estimate the characteristics of the real system (Law, 2015).…”

Section: Research Methods and Materialsmentioning

confidence: 99%

“…This research utilizes a discrete event simulation approach. The model in this study is modified based on the simulation model developed by Milewski & Wiśniewski (2022). The objective of this research is to determine the reorder point and safety stock while considering various aspects such as cost incurred and non-productive time, in order to reduce potential risks and wastage in the future.…”

Section: Research Methods and Materialsmentioning

confidence: 99%

“…(Davoli & Melloni, 2012). This research is a continuation of the study that has been conducted by Milewski & Wiśniewski (2022) regarding the simplification of complex relationships between determining the quantity of shipments that will affect shipping costs, inventory costs, and warehousing costs, along with the potential for lost sales if adjustments are made, using simulation methods. This method is used to obtain the optimal batch size for shipments, as in the previous research (Milewski, 2019) it has been proven that the size of shipments and the level of safety stock significantly affect the performance of the company.…”

Section: Introduction *mentioning

confidence: 99%

“…Simulations have also demonstrated (Lu, Wang, Xie, & Wang, 2018) that not only the level of safety stock, but also the frequency and size of shipments affect the level of logistics customer service measured by stock availability. Both studies conducted by Milewski (2019) and Milewski & Wiśniewski (2022) using a sample from the fast-moving consumer goods (FMCG) industry, which exhibits a demand pattern that follows a normal distribution. In other industries, particularly the construction industry, there is a lack of research on similar topics, despite the fact that this industry experiences uncertain demand for raw materials.…”

Section: Introduction *mentioning

confidence: 99%

“…Meanwhile, Milewski & Wiśniewski (2022) A study conducted in Poland, which examined the supply chain in the construction industry using simulation methods, demonstrated that the size of shipments and the amount of safety stock significantly impact company performance. However, the impact varies depending on different factors, such as the value of goods, demand stability, and logistics process costs.…”

Section: Introduction *mentioning

confidence: 99%

See 4 more Smart Citations

Strand Inventory Analysis of Post Tension in PT XYZ Using Discrete-Event Simulation Method

Dyahnawangsari,

Kusumastuti

2024

Quant. Econ. Manag. Stud.

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The development of connectivity infrastructure, particularly toll roads, is planned to continue expanding and reach 3,500 km by 2030. This signifies a positive outlook for the construction industry. This research conducted to analyse the management of post tension raw materials and determine the optimal policies using the discrete-event simulation method. Simulation scenarios were developed using the Arena application, taking into consideration the demand patterns for post tension work. The validation test results confirmed the capability of the base case model in accurately representing real-world conditions. Scenario development was carried out to influence the strand inventory pattern by incorporating reorder points and adjusting order sizes. Based on the scenario analysis, the most effective approach was found to be setting a reorder point of 3 tons and an order size of 5 tons. The implementation of this analysis successfully reduced the strand inventory by 58.78%. This research enables companies to optimize their inventory, reduce costs, and enhance operational efficiency. The findings contribute to the development of strategies that support sustainable growth in connectivity infrastructure in Indonesia.

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Section: Research Methods and Materialsmentioning

confidence: 99%

Section: Research Methods and Materialsmentioning

confidence: 99%

Section: Introduction *mentioning

confidence: 99%

Section: Introduction *mentioning

confidence: 99%

Section: Introduction *mentioning

confidence: 99%

See 3 more Smart Citations

Strand Inventory Analysis of Post Tension in PT XYZ Using Discrete-Event Simulation Method

Dyahnawangsari,

Kusumastuti

2024

Quant. Econ. Manag. Stud.

View full text Add to dashboard Cite

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Analysis of Management Elements in Antibiotic Inventory Control with EOQ and MMSL Methods at Aisyiyah Bojonegoro Hospital

2023

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Inventory control is important in managerial activities because it involves investment and is hospitals' most significant expenditure component. The Aisyiyah Bojonegoro Hospital requires a logistics management system that can maintain the safety and effectiveness of the use of drugs for the smooth running of hospital pharmaceutical services in the long term. This analytical observational study analyzes management elements in controlling antibiotic inventory by simulating the Economic Order Quantity (EOQ) and Minimum-Maximum Stock Level (MMSL) methods. Determination of the sample purposively, i.e., 17 types of antibiotic drugs category A from the results of the ABC analysis, with the inclusion criteria being high cost, high volume, clinically important drugs for antibiotic drugs that are included in the 2020 Hospital Formulary and the exclusion criteria are drugs with inadequate supply. The analysis technique used the Mann-Whitney test and the Kruskal-Wallis test. Based on the results of the study, it was concluded that. Applying the EOQ and MMSL methods has been proven to increase the efficiency and effectiveness of the supply of category A antibiotics at Aisyiyah Bojonegoro Hospital.

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Perencanaan Kebutuhan Distribusi Menggunakan Pendekatan Distribution Resources Planning Pada Perusahaan Baja Cor

Putera,

Puspita Rini,

Lawi

et al. 2024

SGTk

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PT. XYZ merupakan sebuah perusahaan manufaktur yang berfokus pada produksi komponen mesin dari baja cor untuk berbagai keperluan industri, termasuk pertambangan, kelapa sawit, peralatan berat, dan industri karet. Salah satu produk yang menjadi fokus penelitian adalah jaw plate, yang menjadi produk dengan permintaan tertinggi di pasaran dibandingkan dengan produk lainnya. Penelitian ini bertujuan untuk mengatasi ketidaksesuaian antara jumlah produk yang dipasok dengan permintaan di Distribution Centre (DC) Aceh dan DC Jambi, yang berakibat pada kekurangan stok produk di DC tersebut. Pendekatan yang digunakan adalah perencanaan kebutuhan distribusi menggunakan metode Distribution Resources Planning (DRP) dan Model Economic Order Quantity (EOQ) untuk menentukan ukuran pemesanan yang ekonomis. Hasil penelitian menunjukkan bahwa untuk DC Aceh dan DC Jambi, ukuran pesanan yang ekonomis (q) adalah 136 unit dan 109 unit, dengan stok keselamatan (ss) sebanyak 4 unit dan 8 unit, serta titik pemesanan ulang (reorder point, r) sebanyak 24 unit dan 17 unit.

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Regression analysis as an alternative method of determining the Economic Order Quantity and Reorder Point

Cited by 5 publications

References 41 publications

Strand Inventory Analysis of Post Tension in PT XYZ Using Discrete-Event Simulation Method

Strand Inventory Analysis of Post Tension in PT XYZ Using Discrete-Event Simulation Method

Analysis of Management Elements in Antibiotic Inventory Control with EOQ and MMSL Methods at Aisyiyah Bojonegoro Hospital

Perencanaan Kebutuhan Distribusi Menggunakan Pendekatan Distribution Resources Planning Pada Perusahaan Baja Cor

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