Browsing by Author "Wasana Marksin"
Results Per Page
ItemApplying an EOQ model to reduce an inventory cost(Assumption University Press, 2017) Russarin Jiraruttrakul ; Srobol Smutkupt ; Wasana Marksin ; Liang, Liu ; Chanasit Thanathawee ; Assumption University. Martin de Tours School of Management and EconomicsThis research study applies an EOQ model (Economic Order Quantity) to reduce an inventory cost. The focus ABC Company is a Beer Importer in Thailand. It faced the problem of high inventory cost and lackluster inventory management. The root cause was that the Company had no standardized ordering process, which meant a high cost of carrying excess inventory, or having too little to meet demand. It also meant paying a high storage charge. The EOQ Model was proposed, to make substantial improvements. Historical inventory stock data for years 2014 and 2015 shows that the ABC Company had low stock at the end of 2014, which meant the company was not able to fulfill customer demand. Conversely, it had excess stock at the end of 2015 which increased the carrying cost until the product moved from the warehouse (the internal supply chain) on to customers in the external supply chain. The researchers collected historical data from June 2015 to May 2016 (twelve months) to compute and simulate in the EOQ model, thus identifying the re-order point and safety stock, in order to find the optimal order quantity for inventory. This enabled the identification of appropriate inventory levels and buffer stock until arrival of the next shipment. The driving objective of this research was to gain cost savings through an efficient inventory management system. After simulation with the EOQ model, the result indicates that the ABC Company can accomplish cost savings amounting to 50% of the old annual inventory cost. Therefore, the ABC Company should implement the tested EOQ model and its re-order points, to achieve the ultimate aim of improving customer satisfaction, through buying the optimal order quantity, achieving appropriate inventory levels, and minimizing inventory cost.
ItemCosting a freight forwarder's outsourcing decision(Assumption University Press, 2016) Kasaem Limkarnjanachote ; Srobol Smutkupt ; Wasana Marksin ; Sutta Sornmayura ; Liang, LiuAny international Freight Forwarder in Thailand faces tough competition. Airfreight is needed for some goods. The cost is high, but can be offset by low inventory cost. FF Company, the focus firm, provides airfreight services to manufacturers. To keep prices competitive, FF's total airfreight operation cost has to be contained. This research examined whether to outsource part of its airfreight operation or retain it in-house. The total cost of ownership (TCO) concept is used to evaluate this decision. Service quality had to be maintained, outsourced or not. Three TCO models, one for insourcing and two for outsourcing, compared costs per kilogram, service quality, and pros and cons. The finding were that the operation should be retained in-house, not outsourced.
ItemDefect reduction by dmaic method: a case study of a jewelry manufacturer(Assumption University Press, 2019) Luederat Chartmongkoljaroen ; Radha Sirianukul ; Piyawan Puttibarncharoensri ; Wasana MarksinThis research is a case study of a jewelry manufacturerwith the purposes to solve a problem of the defect rate of resins in the modeling department. DMAIC methodology (Define, Measure, Analyze, Improve, and Control) was applied in the research to analyze and identify root causes of the defective resins, improve modeling processes,and reduce a defect rate of resins.Data were collected by using the data collection forms, observations, interviews, and historical data. As a result, there are eight root causes of the defects divided into four categories of the causes and effects diagram. The research wasscoped down to focus on only two categories, which are methods and manpower. Researcher proposed five solutions to solve the problem of defects as well as few control strategies to measure and maintain the improvements. Company has gained many benefits from this research. The resultsclearly indicate that the defect rate of resins decreased significantly.
ItemThe future of Thailand's logistics companies(Assumption University Press, 2015) Orawee Thongkam ; Pavilas Chaochankit ; Sutta Sornmayura ; Wasana MarksinLogistics companies are well established in Thailand. They service trading companies within Thailand and beyond its borders. There is tough competition in an ever increasing global complex world, in which mega-trends will greatly influence societies, businesses, and logistics firms. As one of the ten members of the Association of Southeast Nations (ASEAN), Thailand faces the imminence of the ASEAN Economic Community (AEC) in December 2015, which presents challenges and opportunities. ASEAN becomes a single market and production base, which, with near-zero customs barriers, will enable easier flow of goods and services as well as of investment, capital, and professionals. This will also help ASEAN countries to become more integrated in the global economic community. AEC has tremendous implications for logistics companies in Thailand, which has a geographically advantageous central position, and which could become the transport hub. There is a need for well educated, multi-skilled graduates, to take a variety of jobs in logistics companies.