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Title: :  Optimizing Medicine Supply: An Economic Order Quantity Approach
PaperId: :  21691
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 9 Issue 5 2023
DUI:    16.0415/IJARIIE-21691
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author NameAuthor Institute
Vera HazizahUniversitas Islam Bandung
MuhardiUniversitas Islam Bandung
A. Harits Nu'manUniversitas Islam Bandung

Abstract

Management, Hospital Management, Healthcare
Inventory Control, ABC Analysis, EOQ, Inventory Value, TOR
Pharmacy service provides important and crucial support, while also acts as one of main revenue centers for hospitals. Mistakes in inventory indexation, will surely leads to greater problems for hospital management and financial aspects. Pagelaran Hospital is a hospital that remains practicing conventional methods to manage their medicine supply. The situation has brought inefficient medicine stock in Pagelaran Hospital, especially on medicine turnover ratio and purchase quantity. This study utilizes quantitative descriptive method, with medicine planning and procurement data of 2021. The obtained data were further analyzed by using EOQ method, which then compared with data before EOQ is implemented. After a careful EOQ calculation, it was identified that 19 A category medicines with a total of 3-65 items for each order. After the implementation of EOQ method, the study resulted inventory value decrease by IDR 409,914,601 and improvement on turnover ratio by 8 times. Based in the results of this study, it was indicated that the implementation of EOQ on medicine procurement will improve hospital financial efficiency, lower possibility of losses caused by low medicine turnover ratio, and improve profitability of the hospital by lowering holding cost due to inefficient stock management.

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IJARIIE Vera Hazizah, Muhardi, and A. Harits Nu'man. "Optimizing Medicine Supply: An Economic Order Quantity Approach" International Journal Of Advance Research And Innovative Ideas In Education Volume 9 Issue 5 2023 Page 983-992
MLA Vera Hazizah, Muhardi, and A. Harits Nu'man. "Optimizing Medicine Supply: An Economic Order Quantity Approach." International Journal Of Advance Research And Innovative Ideas In Education 9.5(2023) : 983-992.
APA Vera Hazizah, Muhardi, & A. Harits Nu'man. (2023). Optimizing Medicine Supply: An Economic Order Quantity Approach. International Journal Of Advance Research And Innovative Ideas In Education, 9(5), 983-992.
Chicago Vera Hazizah, Muhardi, and A. Harits Nu'man. "Optimizing Medicine Supply: An Economic Order Quantity Approach." International Journal Of Advance Research And Innovative Ideas In Education 9, no. 5 (2023) : 983-992.
Oxford Vera Hazizah, Muhardi, and A. Harits Nu'man. 'Optimizing Medicine Supply: An Economic Order Quantity Approach', International Journal Of Advance Research And Innovative Ideas In Education, vol. 9, no. 5, 2023, p. 983-992. Available from IJARIIE, http://ijariie.com/AdminUploadPdf/Optimizing_Medicine_Supply__An_Economic_Order_Quantity_Approach_ijariie21691.pdf (Accessed : ).
Harvard Vera Hazizah, Muhardi, and A. Harits Nu'man. (2023) 'Optimizing Medicine Supply: An Economic Order Quantity Approach', International Journal Of Advance Research And Innovative Ideas In Education, 9(5), pp. 983-992IJARIIE [Online]. Available at: http://ijariie.com/AdminUploadPdf/Optimizing_Medicine_Supply__An_Economic_Order_Quantity_Approach_ijariie21691.pdf (Accessed : )
IEEE Vera Hazizah, Muhardi, and A. Harits Nu'man, "Optimizing Medicine Supply: An Economic Order Quantity Approach," International Journal Of Advance Research And Innovative Ideas In Education, vol. 9, no. 5, pp. 983-992, Sep-Oct 2023. [Online]. Available: http://ijariie.com/AdminUploadPdf/Optimizing_Medicine_Supply__An_Economic_Order_Quantity_Approach_ijariie21691.pdf [Accessed : ].
Turabian Vera Hazizah, Muhardi, and A. Harits Nu'man. "Optimizing Medicine Supply: An Economic Order Quantity Approach." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 9 number 5 ().
Vancouver Vera Hazizah, Muhardi, and A. Harits Nu'man. Optimizing Medicine Supply: An Economic Order Quantity Approach. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2023 [Cited : ]; 9(5) : 983-992. Available from: http://ijariie.com/AdminUploadPdf/Optimizing_Medicine_Supply__An_Economic_Order_Quantity_Approach_ijariie21691.pdf
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