The Indonesian Journal of Business Administration
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Evaluating Alternatives on Loss Production Opportunity Due to Surface Facility Constraint: Case Study of Anoa & Pesut Gathering Station in PT RCI
No full textHaving managed one of the largest oil and gas concession in Indonesia for more than 90 years, PT RCI strives to optimize the highest recovery from Romeo block, including from Pesut field and its surrounding. As the asset matures and facility ages, the volume of unrealized production grows caused by reservoir dynamics and changes in environmental policy. The unrealized production volume per year is estimated at 40,000 bbls of oil. As the unrealized oil production inflicts revenue deferment and considering concession contract is near to its end, a list of potential alternatives was assessed to solved the problem. A team of experts are assembled to identify the fundamental problem through root cause analysis as well as generating potential recommendations. Using Value Focused Thinking (VFT) approach, experts discussed and identified the key value that the project want to achieve, then continued to identify opportunity to meet the criteria agreed. A multi criteria decision-making approach is carried out to carefully determine the best alternatives to minimize the unrealized oil production using Analytical Hierarchy Process (AHP). The decision-making process was guided using the combination of quantitative and qualitative criteria including safety aspect, perceived reliability and forecasted financial performance. The result suggested that simple facility alteration by creating interconnection pipe between two gathering stations as the most favored alternatives, providing highest short-term NPV coupled with high system reliability and manageable safety aspect. The proposed alternative is expected to recover 41,000 bbls of unrealized production until the end of concession, while add contractor’s net present value (NPV) of $23,785 with 1.6 of profitability index. Keyword: AHP (Analytical Hierarchy Process), VFT (Value Focused Thinking), LPO (Loss Production Opportunity
Financial Feasibility Of Waste To Food Business Model As Integrated Alternative Solution To Solve Waste Problem & Food Security
No full textThis research examines the feasibility of Waste to Food concept program from the financial side and determines alternatives in its implementation. Waste to Food is a solution idea in handling organic waste while supporting the food security program. In the concept of this program, the people involved will be invited to separate organic waste and store it in the Black Soldier Fly maggot reactor (the product of LPIK ITB innovation). In the reactor, organic waste will be processed by maggot Black Soldier Fly (BSF) and later the maggot BSF will become a source of animal feed. In this study, selected livestock were laying hens. So, the final food product of this program is eggs. The calculation in this study was carried out within the scope of the RW scale involving 200 houses, 200 laying hens and the calculation time for 5 years.Before creating the business model and making a feasibility calculation, analysis is done first through the PESTLE & SWOT analysis method, literature studies, interviews & group discussion forums with experts and relevant stakeholders are also carried out in this study in determining considerations, assumptions and alternatives choices which are then examined. There are 4 variables that become criteria in alternative scenarios, the composition of laying hens feed from maggot BSF, eggs production, eggs prices and labour wages. For the composition of feed from maggot, this study made 3 alternatives that are 80%, 50% and 20%. For eggs production, the alternatives that chosen are 90%, 80% and 70%. For the price of eggs, the alternatives are Rp. 26.000, Rp. 23.000, and Rp. 20.000. For the labour wages, the alternatives are Rp 3.500.000, Rp 2.800.000, Rp 2.100.000.The optimistic scenario calculation shows the results of the Internal Rate Return (IRR) of 38,1 % and the Payback Period (PP) of 3 years. Calculations for moderate scenarios show IRR results of 23,62 % and PP 3 years 7 months. Calculations for the pessimistic scenario show an IRR of 18,97 % and a PP of 3 years 9 months. After calculating the financial feasibility study, the results show that the Waste to Food program is financially feasible for all scenarios and can be an alternative model that can be applied. Besides factors related to finance & business; collaboration with citizens and all stakeholders, determination of rewards for those involved, has become an important support in the successful implementation of Waste to Food. Keywords: organic waste, Black Soldier Fly Larvae, Maggot BSF, waste to food, food security, laying hens, egg
Implementation of Risk Management in PT Len Industri - Case Study in LRT Bandung Raya
No full textCurrently Indonesia is included in the category of developing countries. As a developing country, Indonesia under Joko Widodo's administration is very concerned with the infrastructure system.Based on 2019 APBN information, the infrastructure budget is directed at supporting the strengthening of connectivity, housing provision, and food security. A total of 415 Trillion Rupiah was budgeted in the 2019 APBN for infrastructure development. One infrastructure project that uses funds from the state budget is the LRT project in Indonesia.PT Len Industri is one of the Engineering Procurement Construction (EPC) companies in Indonesia that also plays a role in the continuity of the LRT project in Indonesia by offering railroad signaling development services. PT Len Industri through the Transportation Systems Business Unit has played a role in the development of the South Sumatra LRT signalling, Soekarno Hatta Airport Skytrain, Jakarta LRT, and Jabodebek LRT.But in the previous project, the Transportation Systems Business Unit faced several risks caused by project delays, such as Vandalism, Cost of Delay, Cost of Money, and Opportunity Costs. To minimize the risk of project delays in the future, this study aims to identify potential risks that may occur in new projects in the Transportation Systems Business Unit. LRT Bandung Raya became one of the projects in the planning stage at Unis Transportation Systems Business. This project became PT Len Industri's first project as an initiator. As an initiator of course the risks to be faced become more challenging. For this reason, this research will identify project risks using the risk criteria listed in PMBOK, use the McKinsey 7's framework and PESTEL methods to analyze the company's internal and external risks, and conduct risk assessments using the Analytical Hierarchy Process (AHP) to obtain priority risks in the project. The risk analysis in this study shows that LRT Bandung Raya has 4 extreme risks, 17 high risks, 18 moderate risks, and 2 low risks.Keywords: Risk assessment, risk identification, risk analysis, Analytical Hierarchy Process (AHP), Potential Ris
Implementation of Lean Six Sigma Framework in Improving Quality Management System for LNG Shipment Process in Badak LNG
No full textBadak LNG is the company which is capable to produce liquefied natural gas from feed gas through liquefaction process since 1977. One of Badak LNG’s responsibilities is to conduct LNG loading from the shore side to the ship with limited lay time only for 36 hours. Violation of the agreement causes an impact both morally and financially aspects. Based on the actual lay time data, although the lay time is less than 36 hours, the letters of protest were issued when the delay happened. Afterwards, the letter of protest will be followed up by incident investigation and several recommendations will be given to improve the existing system. However, this is the corrective action that improves the system based on feedback from the customer. In order to increase its competency, Badak LNG also needs preventive improvement action to improve its service quality. The aim of this paper is to develop the effective strategy to prevent delay and its disadvantages from all the LNG shipment activities under Badak LNG’s responsibility by using the Lean Six Sigma process improvement method is called DMAIC (Define-Measure-Analyse-Improve-Control). This improvement is implemented as a preventive action to prevent customer dissatisfaction due to delay time. Keywords: quality improvement, DMAIC, delay tim
SURVIVAL STRATEGY DEVELOPMENT OF CONSTRUCTION COMPANY (CASE STUDY PT MAJU PERSADA)
No full textIndonesian infrastructure development has been accelerated in recent years with construction sector become the important part of it. However, not all companies are equally benefited from the trend. The separation of government tender participation based on the company sub-categorization make large sub-categorized companies suffer from less project availability, in this case PT Maju Persada. This research will analyze the financial condition of this company in current tough condition and propose the survival plan, while keep pursuing their managerial goals. Internal and external analysis were made to understand the main problem of the company. Then, alternatives was made to obtain the realistic plan that can be done in the following years. The analysis found that the company is suffering from the negative operational cash flow, and it is because the company have lower profitability compared to competitors. Possible strategies were analyzed, resulting the most promising options are to create subsidiaries or to reduce cash conversion cycle to the average value of industry. However, the discussion with management results several possible acts that leads to negative end cash condition. The company should make sales rent increment from diversification, cost efficiency, and issue bond with minimum EBIT 25.04 billion for their chosen act.Keywords: capital structure, cash flow, construction, financial ratio, pro-forma analysis
STOCK ANALYSIS OF MAP AKTIF ADIPERKASA USING FUNDAMENTAL ANALYSIS WITH INDONESIA AFTER PANDEMIC PROJECTION
No full textMAP Aktif Adiperkasa (MAPA) is a company engaged in the retail industry that sells various consumer needs products related to healthy lifestyle, MAPA is a subsidiary of Mitra Adiperkasa (MAPI) which manages sales in the sports equipment products sector. MAPA has special distribution rights for some of the flagship products such as Nike, Adidas, Reebok etc, MAPA outlets can be found in various public shopping places in Indonesia. In 2020 the Covid-19 pandemic entered Indonesia which caused the government to impose several regulations aimed at preventing the spread of the Covid-19 virus, one of which is a large-scale social restriction requiring shopping centers that result in crowds having to be closed or should not be operational. This study uses PEST analysis for macro analysis, for industry analysis using 5 force porters. For internal analysis only use financial analysis by comparing the ratio of financial ratios between MAPA and MAPI. To obtain fair value from MAPA shares using discounted cash flow and relative valuation with EBITDA, with WACC of 16.68% and using Indonesia's projected economic growth during the period of improvement after the pandemic, obtained fair value by DCF method of Rp.1.011,59. With this result, it is concluded that for now investors who own MAPA shares are advised to sell their shares and re-enter at a time when MAPA stock market price has touched its fair price. Keywords: MAPA, Stock, Pandemic, Covid-19, DCF, WACC, EBITD
Proposed Blue Ocean Strategy for OZORA Yearbook
No full textOZORA Yearbook is a company engaged in the creative industry in the provision of full-service yearbook making as a memory for final students in a school. Based on the 2019 report, OZORA has not been able to meet the expectations of achieving targets and continues to experience a decline in sales accompanied by a decrease in profit margins compared with the previous year. To get a picture of the company's condition, researchers collected data using qualitative methods through interviews and focus group discussions, as well as an analysis of quantitative data from the results of the customer satisfaction level questionnaire. This data is used further in analyzing the company’s business model canvas and competitor analysis to find the potential causes. Increasing competition is indicated by the price war from competitors who offer the same quality and strategy in getting customers in the same market segment. The inability to reduce costs and customer value changed, bring the company entered into a competitive red ocean. A value innovation needs to be created as a strategy for OZORA to get out from the above conditions. The researcher, together with OZORA, made a second questionnaire and mapped the results of the questionnaire into the blue ocean strategy tools and framework. The new value innovation can be a consideration for OZORA in identifying the blue ocean business strategy, to get the opportunity to expand market share and find new markets so as to improve the condition of the company. Keywords: yearbook, business model canvas, red ocean, blue ocean, value innovation, blue ocean strateg
Proposed Marketing Strategy in Suburban Area (Case Study: Hook 88 Coffee & Food)
No full textCoffee shop business is one of the business which have a lot of interest, many business actors, ranging from big cities, small cities to rural areas, are eyeing this industry. Hook 88 Coffee & Food is one of the F&B business brands that offers processed coffee drinks and various foods with industrial rustic place concept. The problem is unstable revenue in 2019 and 2020, this is due to several things. The purpose of this research is to determine the suitable marketing strategy in sub urban area in order to stabilize the revenue. To analyze and research, both methodology, qualitative and quantitative methodology is used to gain information and alternatives for improvement in the business. The primary data gathered is from questionnaire of consumers who came to Hook 88, Competitors analysis, Marketing Mix 7P analysis, STP analysis, Porter’s Five Forces, PESTEL analysis, Pandemic Situation analysis Value Chain analysis, Research Based View using VRIO analysis and SWOT analysis. For analysis technique, descriptive analysis is performed. Based on the analyses, Hook 88 needs to improve marketing strategies to make the revenue stabilize. Customer seek for several facilities and new added value. To resolve the problem of sales issues the company will implementing solutions in marketing and development strategies e.g : keep location and improve several facilities, Provide Several Promotion Program in Social Media, keep the price and build loyalty program, collaborate with social media influencer and another brands, and the time and scheduling to implementing the strategy is using OKR method.Keywords: Coffee shop, Sub urban, Marketing Strategy, SWOT Analysis, OKR metho
ICT-BASED KNOWLEDGE MANAGEMENT FOR INTERNSHIP PROGRAM STUDY CASE OF ATOURIN
No full textIn today's digital era, phenomena such as the gig economy are one of the results of technological advances. Programs such as internships have now been carried out by many companies in order to maximize the business practices they run. Atourin is one of the start-up companies that are also running the program. In the end, the company's ability to maximize both the experience and knowledge gained from the program is a challenge in itself considering the large number of enthusiasts from the participants. This thesis focuses on finding the most suitable ICT-based knowledge management system for the company. The data collection carried out in this thesis uses a qualitative approach and direct observation by the author during an internship at the company. Through a data processing process that has a problem identification stage, then determining the purpose of solving the problem, identifying what knowledge is needed, and analyzing the core components of knowledge management, namely people, processes, and technology. All these processes are then completed using SECI to determine the flow of knowledge sharing. In the end, it was found that the interns developed more knowledge on the externalization process. This thesis also provides a plan for the implementation of the results of the research conducted in the last chapter. The plan takes 6 months with evaluation at the end of the process. Keywords: Knowledge Management, Gig Economy, Internship, SECI, PPT, ICT
Improvement of Serviceability Level for Presidential Helicopter Type AS332L2 Super Puma Using Part by Hour (PBH)
No full textOne of the superior products from PT. Dirgantara Indonesia is AS332L2 Super Puma helicopter that is used as a helicopter for the Indonesian presidency. In supporting the presidential mission to reach remote areas, PT. Dirgantara Indonesia collaborates with the Ministry of the State Secretariat to procure two Super Puma helicopters. The helicopter must be guaranteed serviceability so that it can be used whenever needed. However, the conditions that occurred in the last two years of 2019 and 2020, serviceability from these helicopters is still not optimal. Only 42% in 2019 and 58% in 2020 of the optimal helicopter flying target of 90%. This situation causes helicopters will be grounded and will interfere with the presidential mission.This research aimed to increase the serviceability of the Super Puma helicopter using the Part by Hour method. Based on the analysis, the thing that causes low serviceability is the delay in fulfilling the replacement of helicopter components. Two root causes occur the current poor business model of PBH and the import factor of helicopter components. Based on the results root cause analysis, the possible alternatives that could be made to optimize the acceleration of material arrival to PT. Dirgantara Indonesia and the fulfilment of these materials to customers are to change business model scheme and make additional pooling storage. The alternative solution is estimated to increase the helicopter serviceability according to target expectations, namely by 90%, so that it can contribute to fully supporting the presidential mission in exercising national sovereignty.Keywords: Serviceability, Part by Hour, business model