INVENTORY MODELS

Deni Ramdani
Learning Objectives

Setelah menyelesaikan bab ini, mahasiswa akan dapat:

• Memahami pentingnya kontrol inventaris.
• Memahami berbagai jenis keputusan terkait inventaris.
• Gunakan kuantitas pesanan ekonomis (EOQ) untuk
menentukan caranya banyak pesanan.
• Hitung titik pemesanan ulang (ROP) dalam menentukan
kapan akan memesan lebih banyak inventaris.
• Menangani masalah inventaris yang memungkinkan tidak
instan.
• Menangani masalah inventaris yang memungkinkan diskon
jumlah
Introduction

• Persediaan adalah aset yang mahal dan penting

• Setiap sumber daya yang tersimpan digunakan untuk

memenuhi kebutuhan saat ini atau masa depan
o Raw materials
o Work-in-process
o Finished goods

* Seimbangkan tingkat persediaan tinggi dan rendah untuk

meminimalkan biaya
Components of Inventory Planning and Control System
Planning Phase

manufactured or purchase
from third party

Feedback Loop
Importance of Inventory Control

Five uses of inventory:

1. Fungsi decoupling
2. Menyimpan sumber daya
3. Pasokan dan permintaan tidak teratur
4. Diskon kuantitas
5. Menghindari kehabisan stok dan kekurangan

Decoupling Function
• Mengurangi penundaan dan meningkatkan efisiensi

• Buffer antar tahap

Economic Order Quantity (EOQ)

• Economic order quantity (EOQ) model

* Salah satu teknik pengendalian inventory yang paling
umum.
o Easy to use
o Several important  limits the
assumptions
applicability of this model!
• Objective is to minimise total cost of inventory
 15
If this amount is 1,000 bananas, all 1,000 bananas arrive at one time when
an order is received. The inventory level jumps from 0 to 1,000 bananas
(Q).

Inventory Usage Over Time

Demand is constant over time 

inventory drops at a uniform rate! e.g. 1,000 bananas

A new order is placed so that when the inventory level reaches 0, the new order
is received and the inventory level again jumps to Q units (vertical line)!
 Average Inventory Level = 𝑄2

Inventory Costs in the EOQ Situation

Based on our assumptions - if we minimise the sum of the
ordering and carrying costs we are minimising the total costs!
• Annual ordering cost is number of orders per year times cost of
placing each order
• Annual carrying cost is the average inventory times carrying cost
per unit per year
Computing Average Inventory:

DAY BEGINNING INVENTORY LEVEL

ENDING AVERAGE
April 1 (order received) 10 8

April 2 8 96 7
April 3 6 4 5
April 4 4 2 3
April 5 2 0 1

Maximum level April 1 = 10 units Total of daily averages = 9 + 7 + 5 + 3 + 1 = 25

Number of days = 5 Average inventory level = 25÷5 = 5 units
Inventory Costs in the EOQ Situation
(1 of 3)

Q = number of pieces to order

EOQ = Q* = optimal number of pieces to order
D = annual demand in units for the inventory item
Co = ordering cost of each order
Ch = holding or carrying cost per unit per year
Annual  Number of 
 Ordering cost 
Ordering  orders placed   per order 
cost  per year   
 
 
 Annual demand   Ordering cost D
    Co
Number of units   per order  Q
 
 in each order 
Inventory Costs in the EOQ Situation
(2 of 3)

Q = number of pieces to order

EOQ = Q* = optimal number of pieces to order
D = annual demand in units for the inventory item
Co = ordering cost of each order
Ch = holding or carrying cost per unit per year

Annual  Carrying cost


 Average   per unit
holding
    
 inventory   per 
cost  
year
Order quantity
 2  (Carrying cost per unit per year)

 Q Ch
2
Inventory Costs in the EOQ Situation (3 of 3)

Total Cost as a Function of Order Quantity:

Finding the EOQ (1
of 2)

• When the EOQ are met, total cost is

assumptions
minimised when:
Annual ordering cost = Annual holding cost

D o Q h
Q C  2C
Solving for Q: Q2C  2DC
h
o

2DC
Ch o
Q2 
2DCo
Q
Ch
Finding the EOQ (2 of 2)

Equation summary:
 22
Q = number of pieces to order; D = annual demand in units for the
inventory item; Co = ordering cost of each order; Ch = holding or carrying
cost per unit per year

Sumco Pump Company (1 of 5)

• Sells pump housings to other companies

• Reduce inventory costs by finding optimal order quantity

Annual demand = 1,000 units

Ordering cost = $10 per
order
Average carrying cost per
unit per year = $0.50
2(1,000)(10)
Q*   40,000  200 units
2DC
Ch
o

optimal number
0.50 of units per
order
 23
Q = number of pieces to order; D = annual demand in units for the
inventory item; Co = ordering cost of each order; Ch = holding or carrying
cost per unit per year

Sumco Pump Company (2 of 5)

The total annual inventory cost is the sum of the

ordering costs and the carrying costs:

D Q
TC  Q Co  2 h
C 1,000 200
 (10)  (0.5)
200
2
 $50 + $50  $100

Number of orders per year = (D÷Q) = 5

Sumco Pump Company
(3 of 5)
 30
d = Demand per day
L = Lead time for a new order in days

Procomp’s Computer Chips (1 of 2)

D = Annual demand = 8,000

d = Daily demand = 40 units
L = Delivery in 3 working days

ROP  d  L  40 units per day  3 days

 120 units

 An order for the EOQ (400) is placed when the

inventory reaches 120 units
 The order arrives3 days later just as the
inventory is depleted to 0!
 31
Time between placing an order and its receipt is called lead time
(L)
Q = 400
Reorder Point Graphs d = 40 units
L = Delivery in 3 working days
ROP = d * L = 120
ROP < Q 120 < 400

120 = 120 + 0
400  New order
placed
when inventory = 120

120

3 days
 32

Procomp’s Computer Chips

(2 of 2)

Annual demand = 8,000

Daily demand = 40 units
Delivery in three twelve working days

Suppose the lead time for Procomp Computer Chips was

12 days instead of 3 days. How would this affect
the “reorder point”?
Procomp’s Computer Chips
(2 of 2)

Annual demand = 8,000

Daily demand = 40 units
Delivery in three twelve working days

 New order placed when inventory = 80 and one order is

in transit!
 34
Time between placing an order and its receipt is called lead time
(L)
Q = 400
Reorder Point Graphs d = 40 units
L = Delivery in 12 working days
ROP = d * L = 480
ROP > Q 480 > 400

480 = 80 + 400
400  New placed
order when = 80
inventory is
and one order in
transit!

80

12 days
Time between placing an order and its receipt is called lead time

Reorder Point
(L)

Graphs

400 Q = 400
d = 40 units
L = Delivery in 3 working days
ROP = d * L = 120
ROP < Q 120 < 400

3 days

400 Q = 400
d = 40 units
L = Delivery in 12 working days
ROP = d * L = 480
ROP < Q 480 < 400

12 days
Thank you

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