Holistic Perishable Pharmaceutical Inventory Management System

Mohamed Yoosha Tungekar, Miguel Rivas Pellicer and Silvia Carpitella ()
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Mohamed Yoosha Tungekar: California State University
Miguel Rivas Pellicer: California State University
Silvia Carpitella: California State University

A chapter in Analytics Modeling in Reliability and Machine Learning and Its Applications, 2025, pp 175-195 from Springer

Abstract: Abstract Inventory management is vital in the pharmaceutical industry, especially for perishable goods. These products have a limited shelf life and require careful handling to maintain quality, prevent losses, and maximize profits. Managing perishable inventory, particularly in the pharmaceutical sector, involves making informed decisions considering multiple factors. Poor decision-making can result in expired medications, leading to financial setbacks and potential harm to patients. Additionally, challenges arise when uncertainties and other factors like transportation and cost come into play. To address these challenges, this study proposes the use of a multi-criteria decision support model to enhance inventory efficiency. The proposed model takes into account various criteria, including shelf life, storage conditions, and economic efficiency. It evaluates the impact of different inventory management strategies on optimizing perishable pharmaceutical products. By providing a prioritized ranking of strategic actions, the model helps optimize inventory management efforts, guiding the implementation of suitable strategies for improved performance.

Keywords: Inventory optimization; Decision-making; Perishable goods; Pharmaceutical industry; Fuzzy logic (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssrchp:978-3-031-72636-1_9

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DOI: 10.1007/978-3-031-72636-1_9

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