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In response to increasing competition in the manufacturing sector, PT X—a copper busbar manufacturing company—implemented Lean Manufacturing supported by Value Stream Mapping (VSM) to improve production efficiency and reduce supply chain costs. This study utilizes VSM, Value Stream Analysis Tools (VALSAT), and Root Cause Analysis (5 Whys) to identify sources of waste and formulate improvement strategies. The analysis identified three dominant wastes: waiting time, product defects, and excess inventory. These were mainly caused by the lack of standardized material procedures, inadequate supporting equipment, and poor integration between the incoming inspection process and the Enterprise Resource Planning (ERP) system. To address these issues, the study proposes installing silica rolls, providing air wipers and flatness tools, developing standardized work instructions, and integrating Internet of Things (IoT) technology with the ERP system for real-time monitoring. As a result of implementing these solutions, PT X successfully reduced its defect rate from 6.23% to 1.32%, decreased lead time, and achieved notable savings in supply chain costs. The findings demonstrate that integrating Lean Manufacturing principles with VSM can effectively eliminate non-value-added activities, streamline production processes, and enhance overall competitiveness. This study reinforces the strategic value of Lean tools in continuous improvement initiatives within the manufacturing industry.

In carrying out measurements of the company's financial performance, several types of financial ratios are used, such as profitability, activity, solvency, and liquidity ratios. The purpose of the study is to provide comparative results of the company's financial performance as reviewed from the profitability, activity, solvency, and liquidity ratios before and after acquiring PT Mulia Boga Raya Tbk at PT Garuda Food Putra Putri Jaya Tbk in 2018-2023. The type of research used is quantitative descriptive research. The findings are that the Current Ratio before and after the acquisition is different, but not significant. This acquisition has an optimal impact on increasing the efficiency of the company's current asset management. The company's Debt to Equity Ratio shows the difference before and after the acquisition, but not significant. The acquisition makes a good contribution to the efficiency of the company's current asset management. Return on Equity shows the difference before and after the acquisition, but the change is not significant. The acquisition does not have a significant effect on the efficiency of using equity in generating profits. Total Asset Turn Over experiences an insignificant difference before and after the acquisition.

Profitability is a critical factor in ensuring a company’s sustainability. In the current business environment, companies are required to balance profit with non-financial aspects, namely social and environmental considerations. This study aims to empirically examine the effect of green accounting, environmental performance, and corporate social responsibility (CSR) disclosure on profitability, using firm size as a control variable. The research was conducted on manufacturing companies listed on the Indonesia Stock Exchange during the 2021–2024 period. The sample was selected using purposive sampling, resulting in 246 observations. Data were analyzed using multiple linear regression techniques. The findings indicate that green accounting and firm size (as a control variable) have a significant negative effect on profitability. In contrast, environmental performance and CSR disclosure have a significant positive effect on profitability. These results imply that corporate management should strive to balance profit, social, and environmental aspects without neglecting cost efficiency. Furthermore, environmental performance and CSR disclosure can serve as key indicators in investment decision-making, as they provide favorable returns for shareholders.

This study aims to evaluate the financial performance of PT. Matahari Department Store Tbk for the 2023–2024 period using financial ratio analysis, particularly profitability and liquidity ratios. The study applies a descriptive quantitative approach, utilizing secondary data from the company’s financial reports. Profitability ratios such as Net Profit Margin, Return on Assets (ROA), and Return on Equity (ROE), along with liquidity ratios including Current Ratio, Quick Ratio, and Net Working Capital Ratio, were used as indicators. The results show a significant increase in profitability ratios, indicating improved operational efficiency and asset utilization. Meanwhile, the liquidity ratios also improved but remained below the optimal level, suggesting that the company still faces challenges in meeting its short-term obligations. In conclusion, PT. Matahari has demonstrated enhanced profitability but needs to strengthen its liquidity position to ensure financial stability.

Abstract. This study aims to analyze the effect of Return On Equity (ROE) on stock prices at PT Ace Hardware Indonesia Tbk during the 2021–2024 period. The background of this research emphasizes the importance of the capital market as a means of investment and a source of corporate funding, as well as the need for financial ratio analysis in investment decision-making. This research employs a quantitative approach using descriptive statistical analysis and multiple regression methods. The data analyzed includes the company's annual ROE and stock price values. The results indicate fluctuations in both ROE and stock prices over the period. Although ROE declined in 2022, it showed a subsequent upward trend. The drop in ROE during 2022 coincided with a sharp decline in stock prices, presumably due to unmet investor expectations. The main finding reveals a positive relationship between ROE and stock prices, where an increase in ROE tends to be followed by a rise in stock prices. This suggests that ROE is a crucial indicator for investors in evaluating company performance and investment prospects. The study concludes that improving capital utilization efficiency through a high ROE can enhance the attractiveness of a company's stock in the capital market.

The food and beverage subsector of the manufacturing industry, despite experiencing positive growth, still faces challenges in maintaining financial performance stability, such as high operational costs, suboptimal capital structure, and efficiency differences across company scales. This study aims to examine the effect of operational efficiency, leverage, and firm size on financial performance, both partially and simultaneously, in food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 period. The sample consists of 16 companies selected using purposive sampling, with a total of 48 observations. This research applies a quantitative approach using panel data regression analysis and hypothesis testing through partial (t-test) and simultaneous (F-test) methods with STATA version 14. The best model used is the Random Effect Model (REM), selected through Chow, Hausman, and Lagrange Multiplier tests. The findings indicate that leverage has a significant negative effect on financial performance when tested partially, while operational efficiency and firm size do not have a significant partial effect. However, when tested simultaneously, operational efficiency, leverage, and firm size significantly influence the financial performance of food and beverage manufacturing companies listed on the IDX.  

This study aims to analyze the relationship between data analytics utilization and the performance improvement of Meta Platforms Inc., particularly through its Instagram platform. In the digital era, data has become a strategic asset that enables companies to understand user behavior, optimize marketing strategies, and develop innovative products and services. Using a qualitative case study approach, this research illustrates how Meta leverages Instagram analytics—through audience segmentation, campaign effectiveness evaluation, and user insight-driven feature development—to enhance operational efficiency and profitability. The findings show that the use of data analytics not only increases advertising effectiveness and return on investment (ROI) but also strengthens Meta’s position as an innovation leader in the social media industry. The study also highlights the importance of data transparency and ethical practices in data usage, and recommends the development of more open and adaptive data infrastructure to meet evolving user needs.

This study aims to analyze the influence of leverage (DER), free cash flow (FCF), and operational efficiency using inventory turnover (ITO), and receivables turnover (RTO) on company value, with company size as a control variable, in food and beverage sector companies listed on the Indonesia Stock Exchange for the 2018–2023 period. The method used is panel data regression with the Fixed Effect Model approach. The results of the study show that leverage has a significant negative effect, and inventory turnover has a significant positive effect on the company's value. Meanwhile, FCF and RTO had no significant effect, while company size had a negative effect. Robustness checks with PBV as proxy for alternative values showed relatively consistent results. These findings support the signal theory, that operational efficiency and a well-managed financial structure can strengthen investors' perception of a company's value.

Finansial restructuring is an important strategy in maintaining company sustainability and growth, especially in the face of external and internal pressures. Mergers, acquisitions, and leveraged buyouts (LBOs) are the three main instruments in restructuring strategies used by companies in various sectors. This study aims to systematically review the current academic literature on the impact, challenges, and effectiveness of using mergers, acquisitions, and LBOs in the context of financial restructuring. By reviewing more than 20 sources from academic journals and recent financial reports, this study identifies trends, research gaps, as well as theoretical and practical contributions of each of these instruments. The findings show that all three instruments have significant potential to improve a firm's operational efficiency and capital structure, but also carry substantial risks if not managed strategically.

In global competition, companies must be able to set competitive selling prices. Production cost components such as raw material costs, direct labor costs, and factory overhead costs are all included in the cost of goods manufactured. This study analyzes the COGS with Job Order Costing at PT. XYZ, a make-to-order company. The study was conducted by comparing COGS with Job Order Costing between Box Roller Conveyor and Bag Stop & Go Belt Conveyor as well as material usage and outsourcing. The results of the study indicate that Job Order Costing at PT.XYZ accurately traces the contribution of material costs and outsourcing to total production costs, and evaluates efficiency and cost control on each project with different characteristics. The use of Job Order Costing shows that Bag Stop & Go Belt Conveyor has a higher COGS of Rp299,655,813 than the COGS of Box Roller Conveyor of only Rp209,740,142. The cost structure shows that outsourcing is the most dominant component, reaching more than 98% of HPP on Bag Stop & Go Belt Conveyor, while raw material costs contribute less than 3%, so it can be concluded that the outsourcing vendor management strategy greatly affects the efficiency of production costs at PT. XYZ.

This study aims to analyse the impact of the implementation of PSAK 73 which focuses on changes in key financial ratios, namely Debt to Equity, Return on Assets, and Return on Equity. The results showed that DER experienced a significant increase, ROA in the first year experienced a significant decrease and ROE experienced a significant decrease due to depreciation and rental interest. Overall, the implementation of PSAK 73 affects the company's financial structure, increases leverage, and decreases profitability and affects asset efficiency although not consistently. This study also responds to the importance of financial statement transparency with the recognition of right-to-use assets and lease liabilities that provide a more realistic picture of the company's liabilities and assets. This study suggests expanding the sample, considering other variables, and using more complex quantitative and qualitative analysis methods to gain a deeper understanding.

This study aims to evaluate the operational efficiency of PT Asuransi Jasa Tania Tbk in 2023 using the operating expense to revenue ratio (Expense Ratio). The data used is the company's financial statements for the year ended December 31, 2023. The results show that PT Asuransi Jasa Tania Tbk successfully improved its operational efficiency significantly, with a decrease in the Expense Ratio by 17.24% to 48% compared to the previous year. This efficiency improvement was driven by strong net premium income growth, effective operating expense control, and investments in digitalization. Compared to the general insurance industry average in Indonesia, PT Asuransi Jasa Tania Tbk demonstrates a better level of efficiency. These findings highlight the importance of operational efficiency for the profitability and competitiveness of insurance companies, as well as the relevance of technology adoption in enhancing efficiency. Practical and theoretical implications are discussed.

This study analyses the application of the Activity-Based Costing (ABC) system in the manufacturing sector with the main objective of improving the efficiency and effectiveness of company operations compared to conventional cost accounting approaches. The ABC method links costs with relevant activities, thus giving a more realistic cost allocation that assists firms in identifying their inefficient costs and improves the quality of managerial decisions. This research applies the SLR approach in identifying, evaluating, and summarizing findings from various studies on ABC implementation. The search process has been carried out through the Google Scholar database, while the period of search concern is 2019 - 2024. Therefore, from the initial outcome of 588 articles retrieved, only 31 articles with the inclusion requirements were selected to be analyzed in depth. The findings show that companies using the ABC method have superior financial performance and competitiveness compared to those using traditional methods. Although the implementation of ABC requires a significant initial investment, the long-term benefits in the form of efficiency and more optimal resource management contribute greatly to the sustainability of manufacturing companies in the global market.

Predictive Maintenance is a maintenance activity that focuses on monitoring equipment conditions in real-time and analyzing data to predict potential failures before they occur, allowing repairs to be made in a timely manner before major damage occurs. One of the methods used in predictive maintenance is "Infrared Thermography” or use of technology thermal imaging technology. In the context of predictive maintenance, thermography can be used to identify problems that are not visible to the naked eye, such as poor electrical connections, excessive heat buildup, or damage to components that cause heat leakage The purpose of this study was to determine the implementation of Predictive Maintenance with Infrared Thermography method on electrical equipment at PT PHM. The method used in this research is the observation method with primary and secondary data collection. The results showed that the implementation of predictive maintenance with the Infrared Thermography method on electrical equipment and systems at PT PHM was effective in helping the company avoid unnecessary costs and improve operational efficiency. Predictive maintenance allows companies to perform maintenance to identify potential damage before it occurs and can take preventive action so as to reduce repair costs, and operational productivity.

The purpose of this research is to examine how production costs factor into producer choices, particularly those pertaining to output volume, selling price estimation, and company growth strategies.  The research examined micro and small business players in Kediri Regency, East Java, employing a descriptive quantitative technique.  The findings demonstrate that the production cost structure, particularly the preponderance of variable costs, considerably affects the quantity of output and the margin for price adjustment.  It has additionally been demonstrated that saving money encourages manufacturers to take risks and grow their companies.  Moreover, management accounting-based cost tracking, waste reduction, and sourcing local raw materials are all cost management tactics that impact a company's strength and ability to compete.  Producers' long-term strategic decision-making is therefore influenced by effective production cost management, which in turn affects operational sustainability.

This study aims to examine in depth the influence of financial variables consisting of Current Ratio (CR), Return on Equity (ROE), Debt to Equity Ratio (DER), and Earning per Share (EPS) on Stock Returns in primary consumer sector companies listed on the Indonesia Stock Exchange (IDX) during the 2018–2022 period. This study uses a quantitative approach by utilizing secondary data in the form of annual reports published through the official websites of each company and the Indonesia Stock Exchange page, so that the data used can be accounted for its validity. Sample selection was carried out through a purposive sampling technique with certain criteria resulting in 15 sample companies with a total of 75 observation data which were then analyzed using Eviews 13 statistical software. The analysis focused on partial and simultaneous relationships between variables to determine how much each factor contributed to the movement of Stock Returns. The results showed that the Current Ratio had no significant effect on Stock Returns with a probability value of 0.4079, so that company liquidity in the short term was not a major determining factor for investors. Return on Equity also did not show a significant effect with a probability value of 0.2591, indicating that the company's efficiency in generating profits from shareholder equity has not been a consistent benchmark for investment returns. Conversely, the Debt to Equity Ratio was shown to have a significant negative effect on Stock Returns with a probability value of 0.0053, meaning that the higher the company's leverage level, the greater the risk borne, thus implying a decrease in investor interest and a decrease in returns. Earnings per Share also did not have a significant effect on Stock Returns with a probability value of 0.2989, indicating that although EPS is one of the fundamental indicators, in the context of this research period its effect was inconsistent on the returns received.

This study aims to analyze the effect of leverage, liquidity, and company size on profitability in food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. Testing was conducted both partially and simultaneously to obtain a comprehensive picture of the relationship between variables. This study uses a quantitative approach with a sample of 14 companies selected through a purposive sampling method based on certain criteria, such as the completeness of annual financial reports during the study period and the availability of relevant data. The data used are secondary data obtained from the official IDX website (www.idx.co.id), including annual financial reports containing information on total assets, total liabilities, total equity, financial ratios, and the company's profit level. Data analysis was carried out using the multiple linear regression method using SPSS version 26 software, so that the effect of each independent variable on the dependent variable can be tested both individually and together. The results of the study indicate that simultaneously, the variables leverage (X1), liquidity (X2), and company size (X3) have a significant effect on profitability (Y). However, partial test results revealed that leverage had a negative and significant effect on profitability, indicating that a high proportion of debt can reduce a company's ability to generate profits. Meanwhile, liquidity and company size were not shown to have a significant influence on profitability, suggesting that these factors are not the main determinants of profit performance in this sector. This study implies that food and beverage company management needs to carefully consider capital structure to maintain profitability. For further research, it is recommended to add other variables such as operational efficiency, sales growth, and dividend policy, as well as extend the observation period for more in-depth and representative analysis results.

This article discusses the effectiveness of using Accurate Online software in supporting the accounting process during the implementation of the independent student internship program at PT Neo Farma Indonesia. Accurate Online as a cloud-based accounting information system is used to record financial transactions, manage stock, taxation, and prepare reports in real-time and integrated. This study uses a qualitative method through direct observation during the internship. The results of the observation show that the implementation of Accurate Online provides convenience in recording transactions, time efficiency, and strengthens the company's financial governance. Although there are technical constraints in the form of internet network quality, this does not significantly interfere with the effectiveness of the system. Thus, the use of Accurate Online is considered effective in supporting company operations and providing relevant work experience for students.

PT Udara jadi Bersih Bekasi is a company engaged in testing Heating, Ventilation, and Air Conditioning (HVAC) systems. So far, the process of recording test results is still carried out manually using paper media. This process poses a number of obstacles, such as delays in recording, potential input errors, and limitations in accuracy and data storage. This condition also has an impact on delays in the submission of test results information to supervisors, who should need fast and accurate data for decision-making. To answer this problem, a web-based application is needed to design a web-based application that is able to digitize the entire workflow of recording and reporting HVAC test results. With a web-based system, data can be managed centrally, more structured, and easily accessible at any time. This application is also equipped with QR Code technology to speed up access to test results. Supervisors and technicians only need to scan the code for complete information, so they no longer rely on manual searches that are time-consuming and prone to serious errors in technical documentation. The design of this application uses the Waterfall method which consists of the stages of needs analysis, system design, implementation, testing, and maintenance. UML is used as a tool to describe business processes and system activity flows in detail, so that development can be carried out more systematically, efficiently, and in a targeted manner according to applicable software engineering standards. With the implementation of this application, PT Udara jadi Bersih Bekasi is expected to be able to improve operational efficiency, reduce recording errors, and speed up the information distribution process. In the end, this digitalization will support companies in providing services that are more professional, accurate, innovative, reliable, and according to the needs of the modern HVAC industry in the era of global digitalization.

The Ripple Mill machine is one of the vital components in a Palm Oil Mill (PKS) that functions to separate the palm kernel from its shell. This process is very important because the quality and quantity of the palm kernel produced will directly affect the economic value and production efficiency in the palm oil industry. At PTPN IV Regional II Plantation Unit and Adolina PKS, various technical problems were found that caused a decrease in machine performance, including rotor bars and square bars that experienced wear due to age and improper machine settings. In addition, other damage that often occurs is a broken van belt due to age and excessive tension, feeder motor dysfunction caused by excessive load, and motor overheating that occurs due to age and high workload. To overcome these problems, this study uses the Failure Mode and Effect Analysis (FMEA) method. This method aims to identify various potential failures, assess the severity, frequency of occurrence, and detection capability, so that the Risk Priority Number (RPN) value can be calculated as a basis for repair priorities. The results showed that worn rotor bars and worn square bars had the highest RPN values, each at 280, equivalent to 40.23% of the total identified risks. This indicates that these two components are critical points requiring immediate repair and maintenance attention. Applying FMEA in this context provides tangible benefits, including helping the company formulate a more targeted maintenance strategy, reducing the risk of recurring damage, and minimizing downtime that impacts production. With more systematic maintenance, operational efficiency can be improved while extending the lifespan of the Ripple Mill machine.