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Inventory control analysis to minimize spare part inventory cost using Q model backorder and lost sales condition with hadley-within solution
Asmal S.
Aip Conference Proceedings
Abstract
The company’s problem is there is a stock out condition on the Crawler, so in this research planning and inventory control were carried out to overcome the problem and minimize the total cost of inventory. This research uses the Q model for backorder conditions and lost sales conditions, where previously the forecasting calculations were carried out using the time series method. Model Q is also known as Continuous Review System which is a control model where the order quantity is always fixed with varying order times. This Q model of inventory control helps the company in determining the optimal ordering order (Q), return point (r), and safety stock (SS). Based on the results of this research, it shows that the Q backorder model is a method that has a minimum total inventory cost of IDR 4,363,654,869 per year compared to the condition of the Q model lost sales and based on the condition of the company (existing), which can save inventory costs of around 1.44%. or IDR 63,847,650, so this Q model can be used as an alternative by the company in determining inventory control on the Crawler.