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Dynamic discrete inventory control model with deterministic and stochastic demand in pharmaceutical distribution
Slobodan Antić, Lena Djordjevic Milutinovic, Andrej Lisec, 2022, izvirni znanstveni članek

Opis: This paper presents an inventory control problem in a private pharmaceutical distribution company from the Republic of Serbia. The company realizes that distribution within nine neighbouring countries and inventory control in the pharmaceutical supply chain is centralized. In order to constitute a conceptual model of the problem, we propose the modern control theory concept. The conceptual model is based on the specific practical assumptions and constraints of the supply chain. Thereafter, a dynamic discrete mathematical model of inventory control is formulated to reflect elements of the system and their relations. The model considers multiple pharmaceutical products, variable lead time, realized stochastics and deterministic demand, and different ordering policies (Lot for Lot and Fixed Order Quantity). Deterministic demand is represented as a sales forecast for each product per month, while stochastic demand is generated as a random variation of sales forecast in a range of ±20%. Two objective functions are defined as the maximization of the difference between planned average inventory level and realized average inventory level, and the minimization of stock-out situations. We develop a procedure for the determination of reorder points and the number of deliveries to achieve proposed objective functions. The model overcomes shortages of theoretically-based distribution requirements planning models and offers solutions to the limitations in inventory control practice. Real-life data, collected over two years, are used for the validation of the proposed model and the solution procedure. Numerical examples illustrate the model application and behaviour.
Ključne besede: distribution, inventory management, logistics, pharmaceutical companies
Objavljeno v DKUM: 09.08.2023; Ogledov: 317; Prenosov: 21
.pdf Celotno besedilo (3,83 MB)
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Risk management in the pharmaceutical industry in Slovenian companies
Nina Bucalo, Borut Jereb, 2017, kratki znanstveni prispevek

Opis: The pharmaceutical industry is one of the most competitive businesses in the world. Supply chain in this industry has been directed towards the production of large batches to avoid lack of supplies, and the achievement of regulatory requirements, at the cost of high level of inventory, higher costs and inventory write-off due to expiration or other reasons. In recent years this industry is facing major changes and challenges such as intense globalization processes, increased competition and innovations in technologies, which has broadened and deepened risks in supply chain. The paper reports the results of the study of the risk in distribution processes of Slovenian pharmaceutical companies, which was conducted among five companies and aims to draw attention to risks that arise in supply chain, to emphasize the importance of their management and to present a model for an effective assessment of risk in companies, developed at the Faculty of Logistics.
Ključne besede: risk management, risk catalog, production companies, pharmaceutical industry, distribution, logistics, Slovenia
Objavljeno v DKUM: 06.07.2017; Ogledov: 1294; Prenosov: 517
.pdf Celotno besedilo (115,52 KB)
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