[For companies in Indonesia]Economic order quantity (EOQ) inventory management strategy to cope with low demand-driven situation in high inflation condition

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[For companies in Indonesia]Economic order quantity (EOQ) inventory management strategy to cope with low demand-driven situation in high inflation condition

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December 12, 2023 ＜Finished＞

[For companies in Indonesia]
Economic order quantity (EOQ) inventory management strategy to cope with low demand-driven situation in high inflation condition

Since 2020 until now, inflation in Indonesia had increasing trend starting 1.44% in October 2020 to 3.52% in June 2023 (based on bps data) caused by Food and Drink, Transportation, and Foreign Inflation. This inflation impact to all purchase power of consumer goods in Indonesia market. As a result, manufacturing company should balance between their inventory and order time process to get optimum total cost for their cost structure.
To manage equilibrium between balance stock and carrying cost, one of the best solutions is to apply Economic Order Quantity (EOQ) method given such a demand volume situation. The EOQ for inventory management is the optimum amount of total cost in balancing demand and inventory cost.
This seminar will describe in detail EOQ inventory management techniques to gain optimal inventory level given by uncertainty of demand volume by finding optimal order quantity, optimal replenishment time and optimal total relevant cost. As the result manufacturing company will has total Cost and Stock Efficiency in Sustained Increase Inflation with solution in implementation EOQ System, Warehouse Management System (WMS), Milkrun System, Supplier Management System (SRM). By implementing these solutions, manufacturing company can save their inventory and operating cost through Just in time order, Optimum Warehouse Management, trucking delivery and Supplier Management.

Date: Tuesday, 12 December, 2023, 09:00 - 12:00 (WIB)

Venue: Hotel Mulia Senayan Jakarta

Organizer: NTT Data Indonesia Qunie Consulting Division

Co-sponsored: PT. Wahana Cipta Sinatria

Target: Manufacturing, Logistics and Wholesale & Retail industries
Professional Executive and Management Level
1. CEO, COO
2. General Manager and Manager in Logistics, Supply chain, Warehouse and Transportation

Entry fee: Free of charge

Capacity: 40 persons

Language: Bahasa Indonesia

Registration

Program

Part 1 09:10 - 10:00	Cost and Stock Efficiency in Sustained Increase Inflation Samuel Sianturi - Project Team Leader of SCM Practice, PT. NTT Data Indonesia Qunie Consulting Division Recently, many companies are trying to survive in price competition and market demand even though the companies must reduce their profit. Also, some companies are trying to adjust their selling price products by increasing the price of their product. The increasing product’s selling price is due to all segments in the manufacturing process are also increased e.g.: Raw Material cost, employee wages, distribution cost, etc. The increase was caused by a sustained increase in inflation in all manufacturer’s components. Thus, increasing all raw material cost and operating cost (e.g., carrying cost and ordering cost). To solve the above issues, companies must implement EOQ system in their operating process. Because with this solution, it can give optimum ordering cost, carrying inventory cost, and maintain relationship with supplier. In this seminar, QUNIE will explain about implementation EOQ system in Industry manufacture, Wholesale & Retail, and Logistic. Several issues in supply chain operation including not optimum raw material order quantity, weak of inventory management, and increasing of raw material price will be presented. To manage Cost and Stock efficiency in sustained inflation, one of the best solutions are to apply EOQ system in uncertain variable condition, WMS and Supplier control (Milkrun System and Supplier Relationship Management) in order to reduce their cost of goods manufacturing.
Part 2 10:15 - 11:50	Supply Chain Modernization using EOQ Solution in uncertain variable condition Yusni Wijoyo - Business Expert Solution, PT. Wahana Cipta Sinatria In this seminar, Wahana Cipta Sinatria (WCS) will present condition as EOQ calculation to find equal point in optimum total cost between ordering cost and carrying cost. This EOQ System can accommodate uncertain variable e.g. uncertain lead time delivery, uncertain demand, discount price, sensitivity raw material, back orders and etc. WCS will also show demonstration of the actual implementation of an EOQ System.

Part 1
09:10 - 10:00

Cost and Stock Efficiency in Sustained Increase Inflation

Samuel Sianturi - Project Team Leader of SCM Practice, PT. NTT Data Indonesia Qunie Consulting Division

Recently, many companies are trying to survive in price competition and market demand even though the companies must reduce their profit. Also, some companies are trying to adjust their selling price products by increasing the price of their product. The increasing product’s selling price is due to all segments in the manufacturing process are also increased e.g.: Raw Material cost, employee wages, distribution cost, etc. The increase was caused by a sustained increase in inflation in all manufacturer’s components. Thus, increasing all raw material cost and operating cost (e.g., carrying cost and ordering cost).
To solve the above issues, companies must implement EOQ system in their operating process. Because with this solution, it can give optimum ordering cost, carrying inventory cost, and maintain relationship with supplier.
In this seminar, QUNIE will explain about implementation EOQ system in Industry manufacture, Wholesale & Retail, and Logistic. Several issues in supply chain operation including not optimum raw material order quantity, weak of inventory management, and increasing of raw material price will be presented. To manage Cost and Stock efficiency in sustained inflation, one of the best solutions are to apply EOQ system in uncertain variable condition, WMS and Supplier control (Milkrun System and Supplier Relationship Management) in order to reduce their cost of goods manufacturing.

Part 2
10:15 - 11:50

Supply Chain Modernization using EOQ Solution in uncertain variable condition

Yusni Wijoyo - Business Expert Solution, PT. Wahana Cipta Sinatria

In this seminar, Wahana Cipta Sinatria (WCS) will present condition as EOQ calculation to find equal point in optimum total cost between ordering cost and carrying cost. This EOQ System can accommodate uncertain variable e.g. uncertain lead time delivery, uncertain demand, discount price, sensitivity raw material, back orders and etc. WCS will also show demonstration of the actual implementation of an EOQ System.

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