Pengaruh Baltic Dry Index dan Brent Crude Oil Price terhadap Inventory Turnover pada Perusahaan Food and Beverage yang Terdaftar di Bursa Efek Indonesia Periode 2020–2024

Della Nurhaliza, Heyvon Herdhayinta, S.E., M.Sc., Ph.D.

2026 | Skripsi | AKUNTANSI

Penelitian ini bertujuan untuk menguji pengaruh Baltic Dry Index (BDI) dan harga minyak mentah Brent terhadap inventory turnover pada perusahaan subsektor food and beverage yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2020–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan inventory turnover sebagai variabel dependen, BDI dan harga minyak mentah Brent sebagai variabel independen, serta Return on Assets (ROA), leverage, dan net sales sebagai variabel kontrol. Hasil penelitian menunjukkan bahwa BDI tidak berpengaruh signifikan terhadap inventory turnover, sedangkan harga minyak mentah Brent berpengaruh negatif dan signifikan. Selain itu, ROA dan net sales berpengaruh positif dan signifikan terhadap inventory turnover, sementara leverage tidak berpengaruh signifikan. Temuan ini mengindikasikan bahwa tekanan biaya energi global memiliki keterkaitan dengan efisiensi perputaran persediaan dibandingkan fluktuasi biaya pengangkutan laut internasional. Di sisi lain, efektivitas pengelolaan persediaan juga dipengaruhi oleh kondisi internal perusahaan, khususnya profitabilitas dan tingkat aktivitas penjualan. Secara keseluruhan, inventory turnover perusahaan subsektor food and beverage selama periode penelitian dipengaruhi oleh kombinasi faktor eksternal dan internal, dengan faktor energi global dan kinerja internal perusahaan berperan lebih dominan dibandingkan indikator biaya logistik global yang direpresentasikan oleh BDI.

This study aims to analyze the effect of the Baltic Dry Index (BDI) and Brent crude oil prices on inventory turnover in companies within the food and beverage subsector listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The research adopts a quantitative approach, where inventory turnover serves as the dependent variable, while BDI and Brent crude oil prices function as independent variables. In addition, Return on Assets (ROA), leverage, and net sales are included as control variables. The empirical results indicate that BDI does not significantly influence inventory turnover, whereas Brent crude oil prices have a negative and significant impact. Furthermore, ROA and net sales are found to have a positive and significant effect on inventory turnover, while leverage does not show a significant relationship. These findings suggest that pressures from global energy costs are more closely related to inventory turnover efficiency than fluctuations in international maritime freight costs. Moreover, the effectiveness of inventory management is also affected by firms’ internal conditions, particularly their profitability and sales activity levels. Overall, inventory turnover among food and beverage subsector companies during the study period is shaped by both external and internal factors, with global energy costs and firms’ internal performance exerting a more prominent influence than global logistics cost indicators represented by the BDI.

Kata Kunci : Baltic Dry Index, harga minyak mentah Brent, inventory turnover, Return on Assets (ROA), leverage, net sales, food and beverage.