A novel approach for inventory problem in the pharmaceutical supply chain

Daru : Journal of Faculty of Pharmacy, Tehran University of Medical Sciences
Gökçe Candan, Harun Reşit Yazgan

Abstract

In pharmaceutical enterprises, keeping up with global market conditions is possible with properly selected supply chain management policies. Generally; demand-driven classical supply chain model is used in the pharmaceutical industry. In this study, a new mathematical model is developed to solve an inventory problem in the pharmaceutical supply chain. Unlike the studies in literature, the "shelf life and product transition times" constraints are considered, simultaneously, first time in the pharmaceutical production inventory problem. The problem is formulated as a mixed-integer linear programming (MILP) model with a hybrid time representation. The objective is to maximize total net profit. Effectiveness of the proposed model is illustrated considering a classical and a vendor managed inventory (VMI) supply chain on an experimental study. To show the effectiveness of the model, an experimental study is performed; which contains 2 different supply chain policy (Classical and VMI), 24 and 30 months planning horizon, 10 and 15 different cephalosporin products. Finally the mathematical model is compared to another model in literature and the results show that proposed model is superior. This study suggest a novel approach for solvi...Continue Reading

References

Dec 21, 2013·Daru : Journal of Faculty of Pharmacy, Tehran University of Medical Sciences·Mona JaberidoostRassoul Dinarvand

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