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International Society of Science and Applied Technologies |
| Strategic Decision-Making for Inventory Optimization of Perishable Pharmaceutical Products | ||||
| Author | Mohamed Yoosha Tungekar
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| Co-Author(s) | Miguel Rivas Pellicer; Silvia Carpitella
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| Abstract | Pharmaceutical products and other perishable goods have a limited shelf life and need special care in inventory management to prevent loss, and optimize quality and earnings of business. Optimizing inventory management of perishable products is also significant to ensure sustainability. Effective inventory management requires sound judgment, particularly in the pharmaceutical sector, where goods are frequently timesensitive and necessitate appropriate temperature control. Poor decision-making can cause medications to expire, resulting in financial losses and possibly endangering the lives of patients. This further becomes a challenging task under uncertainty when other factors (e.g., temperature, transportation and cost) are considered. Hence, to facilitate inventory effectiveness, the current study suggests a multi-criteria decision support model to aid in enhancing the stock management of medications and supplies.
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| Keywords | Inventory Management, Perishable Pharmaceutical Products, Decision-Making, Fuzzy Logic | |||
| Article #: RQD28-374 | ||||
Proceedings of 28th ISSAT International Conference on Reliability & Quality in Design |