Proceedings of the 19th International Symposium on Management (INSYMA 2022)

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Inventory Stockholding Policy Model

An Exploratory Study Using Multicriteria Analysis Study Case from a Fertilizer Company, Indonesia

Authors
Andi Kurniawan1, *
1Airlangga University, Surabaya, Indonesia
*Corresponding author. Email: andi.kurniawan-2020@feb.unair.ac.id
Corresponding Author
Andi Kurniawan
Available Online 5 December 2022.
DOI
10.2991/978-94-6463-008-4_129How to use a DOI?
Keywords
stockholding policy; multicriteria analysis; spare parts management
Abstract

Managing spare parts inventory is one strategy that needs to be adequately planned to support a fertilizer company’s production. Stockholding policy is part of integrated spare part management, where spare part classification is determined based on specific inventory criteria. This paper conducts an exploratory study on the design of the stockholding policy model in a fertilizer company in Indonesia. The stockholding policy model will be built with specific inventory criteria using multicriteria analysis: (1) Operation mode, (2) Failure mode, (3) Lead time, (4) Usage, and (5) Price. The results reveal that a fertilizer company’s stockholding policy model optimizes spare part inventory management. Optimum inventory is indicated by ITO (Inventory Turn Over) and Inventory value after stockholding policy model implementation. Knowing the importance and function of the stockholding policy model can develop and strengthen the company to improve spare part inventory strategy and support optimum operations for fertilizer company’s production.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 19th International Symposium on Management (INSYMA 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
5 December 2022
ISBN
10.2991/978-94-6463-008-4_129
ISSN
2352-5428
DOI
10.2991/978-94-6463-008-4_129How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Andi Kurniawan
PY  - 2022
DA  - 2022/12/05
TI  - Inventory Stockholding Policy Model
BT  - Proceedings of the 19th International Symposium on Management (INSYMA 2022)
PB  - Atlantis Press
SP  - 1039
EP  - 1045
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-008-4_129
DO  - 10.2991/978-94-6463-008-4_129
ID  - Kurniawan2022
ER  -