Inventory Control Evaluation for PT XYZ to Minimize the Number Stockout of Spare Parts

Yusok, Naufal Muhammad Hafizh (2022) Inventory Control Evaluation for PT XYZ to Minimize the Number Stockout of Spare Parts. Diploma thesis, Universitas Andalas.

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Abstract

Inventory management controls inventory levels and ensures sufficient replenishment to meet customer demands. The main objective of inventory control is that the company always has the right amount of inventory at the right time and in the specified specifications or quality to ensure business continuity. The problem in PT XYZ's inventory system is that there is often an inventory shortage when there is a request from a customer. Data on the frequency of ordering supplies between September - December 2021 shows that 34.35% of them were filled with backorders, or PT XYZ termed them emergency orders. The cost of an emergency order is higher than that of a regular order, so it can potentially reduce the company's profit, especially if the request cannot be fulfilled or the customer does not tolerate waiting for orders. Thus, the company has a potential loss of Rp 426,508,000. Inventory control conditions like this need to be improved; for this reason, this study evaluates the current inventory control system and proposes an inventory control system. This study's proposed improvement of inventory control aims to reduce the number of stockouts with a perpetual inventory system Q model backorder for fast-moving items. This inventory control proposal produces inventory parameters: lot size, reorder point, and safety stock value. The number of items included in the fast-moving category is 52 items. The lot size, reorder point, and safety stock values are obtained and explained in the narrative. The result of calculating the total inventory cost for 2021 is Rp 1,000,504,998, while the total inventory cost using the proposed parameters is Rp 682,103,799 to provide savings of Rp 318,401,199 or 31.824%.

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