Analysis of Raw Material Inventory Control Using the EOQ Method at PT Wijaya Karya Beton Tbk
Keywords:
Inventory Control; Economic Order Quantity; Raw MaterialAbstract
Raw material inventory control is one of the important aspects of operational management of manufacturing companies. This study aims to analyze the control of raw material inventory using the Economic Order Quantity (EOQ) method at PT Wijaya Karya Beton Tbk. The EOQ method is used to determine the optimal number of orders that can minimize the total inventory cost, which consists of order costs and storage costs. Conducting an analysis of the amount of sand safety supplies, pc strands and joint plates that must be provided by PT Wijaya Karya Beton Tbk PPB for the period of 2017-2019, analyzing the control of raw material inventories in sand, pc strands and joint plates using the EOQ method. The variables used are the purchase of sand raw materials, pc strands and splicing plates for the 2017-2019 period, raw material ordering cost data, and raw material storage cost data. The results of the study concluded that the EOQ method was very efficient. The total cost of raw material inventory calculated according to EOQ is less than that incurred by the company, so there is a saving in the cost of raw material inventory if the company uses the EOQ method in its raw material inventory.
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