Sensitivity Analysis and Optimal Funding Strategy for Catering MSMEs in Facing Raw Material Price Fluctuations to Increase Profitability

Priscila O.G. Limbong; Ady Febrisutisyanto

doi:10.30741/ijamr.v7i1.1911

Authors

Priscila O.G. Limbong Sekolah Tinggi Manajemen Asuransi Trisakti
Ady Febrisutisyanto Institut Teknologi Sepuluh Nopember

DOI:

https://doi.org/10.30741/ijamr.v7i1.1911

Keywords:

Catering Sector, Raw Material Price Fluctuations, Sensitivity Analysis, Optimal Funding Strategy, Profitability

Abstract

Micro, Small, and Medium Enterprises (MSMEs), particularly in the catering sector, often experience fluctuations in raw material prices, which directly affect their cost structures and profitability. This condition poses a challenge for MSMEs in optimizing financing to maintain financial stability and business continuity. For this reason, innovation is needed in the form of sensitivity analysis and optimal funding source analysis to overcome the challenges MSMEs face. Aim: To analyze the impact of raw material price fluctuations on MSME profitability and to determine the optimal financing structure through sensitivity analysis and evaluation of funding sources. Method: Sensitivity analysis was conducted using raw material price data from 2020 to 2023 to assess changes in net profit. Gross profit and net profit were calculated based on sales revenue, cost of goods sold, and operating costs. The optimal financing source was assessed by calculating the Weighted Average Cost of Capital (WACC) and evaluating profitability using the Net Present Value (NPV) and the Internal Rate of Return (IRR). The results indicate the attainment of a break-even point where total revenue equals total costs, providing a basis for MSMEs to formulate appropriate pricing strategies to achieve profitability.

Author Biography

Ady Febrisutisyanto, Institut Teknologi Sepuluh Nopember

Undergraduate Study Program (S1) in Actuarial Science, Sepuluh Nopember Institute of Technology, Surabaya, Indonesia

References

Amala, N. (2017). Analisis Struktur Modal Dengan Menggunakan Metode Weight Average Cost Of Capital Usaha Kecil Misscrip Surabaya. Jurnal Ilmiah Mahasiswa Universitas Narotama, 0–21. Http://Karyailmiah.Narotama.Ac.Id/Files/Analisis Struktur Modal Dengan Menggunakan Metode Weight Average Cost Of Capital (Wacc) Usaha Kecil Misscrip Surabaya.Pdf

Brealey, R. A., Myers, S. C., & Allen, F. (2023). Principles of corporate finance (14th ed.). McGraw-Hill Education.

Hasugian, I. A., Ingrid, F., & Wardana, K. (2020). Analisis Kelayakan Dan Sensitivitas : Studi Kasus Ukm Mochi Kecamatan Medan Selayang. Cetak) Buletin Utama Teknik, 15(2), 1410–4520.

Heizer, J., Render, B., & Munson, C. (2020). Operations management: Sustainability and supply chain management (13th ed.). Pearson Education.

Horngren, C. T., Datar, S. M., & Rajan, M. V. (2021). Cost accounting: A managerial emphasis (16th ed.). Pearson Education.

Javiera, O. (2024). Pengaruh Leverage, Intensitas Modal, Dan Komisaris Independen Terhadap Tarif Pajak Efektif. Jurnal Akuntansi, 5, 738–747.

Kurniawan, A., & Susanto, E. (2022). Analisis dampak fluktuasi harga bahan baku terhadap profitabilitas UMKM sektor makanan dan minuman. Jurnal Manajemen dan Kewirausahaan, 24(2), 145–156.

Lestari, D., Prabowo, H., & Utami, S. (2023). Analisis kelayakan investasi UMKM menggunakan pendekatan NPV dan IRR. Jurnal Keuangan dan Perbankan, 27(1), 89–102.

Longdong, F. M. (2016). The Implementation Of Target Costing In Planning Cost Production At Cv. Sinar Mandiri. 4(1), 1409–1418.

Manein, J. O., Saerang, D. P. E., & Runtu, T. (2020). Penentuan Harga Pokok Produksi Dengan Menggunakan Metode Full Costing Pada Pembuatan Rumah Kayu (Studi Kasus Pada CV. Rajawali Tunggal Perkasa- Woloan 1 Utara). Indonesia Accounting Journal, 2(1), 37. Https://Doi.Org/10.32400/Iaj.27557

Mawuntu, P. S. T., & Aotama, R. C. (2023). Analisis Faktor Penghambat Pertumbuhan UMKM Kota Tomohon Di Era New Normal. Jurnal Ekobistek, 12(1), 466–472. Https://Doi.Org/10.35134/Ekobistek.V12i1.409

Nazah, K. (2024). Analisis Perhitungan Harga Pokok Produksi Dan Harga Pokok Penjualan Terhadap Laba Bersih: Study Kasus Mie Ayam Kembar Kecamatan Namorambe Kabupaten Deliserdang. Jurnal Bina Bangsa Ekonomika, 17(2), 1809–1817.

Nursanti, W., & Setyorini, R. D. A. (2021). Pengaruh Biaya Bahan Baku Langsung Dan Biaya Tenaga Kerja Langsung Terhadap Laba Usaha. Jurnal Akuntansi FE-UB, 15(1), 1–17. Www.Idx.Co.Id

OECD. (2023). Financing SMEs and entrepreneurs 2023: An OECD scoreboard. OECD Publishing.

Putri, R. A., & Wibowo, A. (2023). Analisis break-even point sebagai dasar penetapan harga pada UMKM kuliner. Jurnal Ekonomi dan Bisnis, 18(1), 55–67.

Rahmawati, N., & Nugroho, A. (2022). Struktur biaya dan ketahanan UMKM terhadap ketidakpastian ekonomi. Jurnal Akuntansi dan Keuangan, 19(3), 201–213.

Rizqi, N., & Rusdianto. (2023). Analisis Metode Perhitungan Harga Pokok Pada UMKM Furniture Di Kabupaten Bantul. Innovative: Journal Of Social Science …, 3, 3155–3165. Http://J-Innovative.Org/Index.Php/Innovative/Article/View/2188%0Ahttp://J-Innovative.Org/Index.Php/Innovative/Article/Download/2188/1748

Ross, S. A., Westerfield, R. W., & Jordan, B. D. (2022). Fundamentals of corporate finance (13th ed.). McGraw-Hill Education.

Sari, M. P., Hidayat, R., & Fadli, M. (2023). Analisis sensitivitas laba terhadap fluktuasi biaya bahan baku pada UMKM pangan. Jurnal Riset Ekonomi dan Manajemen, 21(2), 134–147.

Situngkir, T. L., Jundullah, M. M., Ramadhan, M. R., Khoerunnisa, N., Novelina, R. R., & Sasmita, P. (2024). Analisis Penentuan Harga Pokok Produksi Dengan Metode Pesanan Pada Rains Catering. Jurnal Pendidikan Tambusai, 8(1), 646–656.

Sufa, M. F. (2007). Analisis Sensitivitas Pada Keputusan Pembangunan Meeting Hall Untuk Minimasi Resiko Investasi. Jurnal Ilmiah Teknik Industri, 5(3), 97–105. Http://Journals.Ums.Ac.Id/Index.Php/Jiti/Article/View/1597/1134

Sutrisno, B., & Hartono, D. (2022). Struktur modal dan kinerja keuangan UMKM di Indonesia. Jurnal Manajemen Keuangan, 14(2), 98–110.

Waruk, D. I. D., Teknologi, I., & Dahlan, A. (2023). Penerapan Digital Marketing Sebagai Upaya. Jurnal Pengabdian Masyarakat Akademik, 1(2), 10082–10087.

Wulandari, L., Siregar, H., & Tanjung, H. (2017). Analisis Investasi Dan Sensitivitas Unit Usaha Pembiayaan Syariah Menuju Spin Off (Studi Kasus: Adira Finance). Jurnal Al-Muzara’ah, 5(2), 125–133. Https://Doi.Org/10.29244/Jam.5.2.125-133