scholarly journals Optimization of Inventory Management to Prevent Drug Shortages in the Hospital Supply Chain

2021 ◽  
Vol 11 (6) ◽  
pp. 2726
Author(s):  
Tarek Abu Zwaida ◽  
Chuan Pham ◽  
Yvan Beauregard
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Supply And Demand ◽  
Critical Issue ◽  
Raw Material ◽  
Drug Shortage ◽  
Numerical Result ◽  
Management Optimization ◽  
Negative Impacts ◽  
Manufacturing Problems

Drug shortage is always a critical issue of inventory management in healthcare systems since it potentially invokes several negative impacts. In supply chain management, optimization goes hand-in-hand with inventory control to address several issues of the supply, management, and use of drugs. However, it is difficult to determine a shortage situation in a hospital due to multiple unpredictable reasons, such as manufacturing problems, supply and demand issues, and raw material problems. To avoid the shortage problem in a hospital, efficient inventory management is required to operate the system in a sustainable way and maximize the profit of the organization in the Hospital Supply Chain (HSC). In this work, we study a drug refilling optimization problem, a general model for drug inventory management in a hospital. We then investigate a Deep Reinforcement Learning (DRL) model to address this problem under an online solution that can automatically make a drug refilling decision in order to prevent a drug shortage. We further present a numerical result to verify the performance of the proposed algorithm, which outperforms the baselines (e.g., over-provisioning, ski-rental, and max-min) in terms of the refilling cost and the shortage rate.

scholarly journals Optimizing the Supply Chain in a Fuel Process Industry

2021 ◽  
Vol 12 (5) ◽  
pp. 549-553
Author(s):  
Amit Agrawal
Keyword(s):  
Supply Chain ◽  
Performance Management ◽  
Inventory Management ◽  
Best Practice ◽  
Business Processes ◽  
Raw Material ◽  
Bottom Line ◽  
Supply Chain Efficiency ◽  
Value Streams ◽  
And Performance

The Supply Chain Improvement (SCO) project is being introduced by KNPC, which recognises the major business advantages of improved hydrocarbon supply chain efficiency. The objectives of this work is to strengthen, optimise, and integrate supply scheduling and processes not just at stage of enterprise, but also throughout the entire KNPC framework. This is expected to lead to an improvement in the company's bottom line and facilitate the management of business operations at the highest level of efficiency, agility and profitability. In ever changing market conditions and globally competitiveness, it is necessary that raw material supply storage and product delivery were carried out at the lowest possible time and efficiency. Otherwise export oriented refinery like KNPC cannot remain in business with profit. KNPC has therefore embarked on ambitious multi-year operational excellence programs aimed at enhancing its operations and business processes that include short / mid-term planning, scheduling, accounting for growth, inventory management, and performance management. The aim is to achieve top-quartile financial results by accessing new value streams, encapsulating business processes of best practice and motivating employees of businesses to work in a collaborative atmosphere within the global and cross-functional business cycle to make smarter, quicker and more competitive choices.

A Review of Supply Chain Risk Management in Agribusiness Industry

2018 ◽  
pp. 5550-5558
Author(s):  
Sri Widiyanesti ◽  
Yudi Fernando
Keyword(s):  
Supply Chain ◽  
Supply And Demand ◽  
Production Costs ◽  
Raw Material ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Chain Management ◽  
Balanced Distribution ◽  
Management Concept ◽  
Agricultural Business

Supply chain of agricultural commodities becomes a major concern of Indonesian scholars and practitioners. Many companies engaged in this industry unable to survive in the market. This is contrary to the natural conditions of Indonesia with abundant natural resources and plenty of commodity producers. Problems often arise in the field of supply chain risk which link to commodities in Indonesia, among others: price fluctuation, the scarcity of the commodity, supply and demand are not balanced, distribution and production costs are expensive, raw material commodities that are imported, and natural disasters. Companies which engaged in agricultural business have high risk of survival and not even grow. To overcome this challenges the this chapter intend to review supply chain management concept by look at risk consideration may arise in the business uncertainties. The lack of studies to investigate the risk factors in agribusiness makes this study contribute to the supply chain literature.

A Research on Complex Event Processing Technology Based on Smart Logistic System

2014 ◽  
Vol 722 ◽  
pp. 430-435
Author(s):  
Bin Bin Fu ◽  
Jie Zhu
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Information Transfer ◽  
Supply And Demand ◽  
Complex Event Processing ◽  
Processing Technology ◽  
Event Processing ◽  
Supply Chain System ◽  
Technology Application ◽  
Demand Prediction

With IOT technology developing and the cost reducing, Its application in supply chain is a matter of time. Smart logistic system is one of the IOT technology application in supply chain which solve difficult problems, such as acquisition underlying data, information transfer and so on. we need to achieve higher level application and solve more complex problems such as improving inventory management accuracy, reducing supply chain management cost, improving accuracy of supply and demand prediction, supply chain's rapidly react ability,these need to use complex event processing technology. It will introduce how to apply complex event processing technology to supply chain system based on IOT. By this way we can sort out valuable information by processing a large number of simple event.

Modeling of Supply Chain Decision Logic Using PID Controllers

2004 ◽  
Author(s):  
Tung-King See ◽  
Edward M. Kasprzak ◽  
Tarunraj Singh ◽  
Kemper E. Lewis
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Critical Issue ◽  
Decision Makers ◽  
Pid Controllers ◽  
Supply Chain System ◽  
Number Of Factors ◽  
Human Decision ◽  
Decision Logic ◽  
Ordering Strategies

Most manufacturing takes place in the context of a supply chain. Each station in the supply chain must not only manufacture a product but also decide how much to produce. This decision is influenced by the supply of materials/components from the next station down in the supply chain and the demand from the next station up. With the advent of increased customization, inventory management is increasingly becoming a critical issue in the manufacturing process. In this paper we model the decision logic at each stage of a supply chain system through the use of system identification and PID controllers. The goal is to investigate and manage the costs of manufacturing a product in the context of a supply chain. It is assumed that the supply chain has well-understood interactions between individual positions, allowing for a focus on the ordering decision logic. A review of ordering strategies is presented, and a discussion of the difficulties in determining PID gains for human decision makers is included. The results show a range of correlation between the PID simulation and measured supply chain inventories. This stems from a number of factors, which are discussed. Additionally, ordering strategies to optimize the supply chain are investigated.

scholarly journals Supply chain integration within mass customization: Tactical procurement, production and distribution modeling

2021 ◽  
Vol 14 (2) ◽  
pp. 250
Author(s):  
Mouad Benbouja ◽  
Achraf Touil ◽  
Abdelwahed Echchatbi ◽  
Abdelkabir Charkaoui
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Mass Customization ◽  
Programming Model ◽  
Exact Method ◽  
Raw Material ◽  
Mixed Integer ◽  
Dyadic Relationships ◽  
Distribution Modeling ◽  
Production And Distribution

Purpose: The actual market characteristic oriented toward customers’ requirements compels decision-makers to foresee customization abilities. Mass customization represents a valuable approach to combine customizable offers with mass production processes. From a supply chain standpoint, this paper attempts to develop an integrated procurement, production and distribution modeling to describe the generated framework structure formulation within tactical decision planning level.Design/methodology/approach: The paper provides a mixed integer linear programming model of a three echelon supply chain illustrated from the automotive industry with (a) customers: Original Equipment Manufacturers (OEMs) identified as leaders and (b) first-tier supplier: wiring harnesses manufacturer (c) second-tier supplier: raw material supplier, identified as followers. The model formulation is depicted through dyadic relationships between stakeholders considering the specific operation enablers of the environment such as make to order, modular approach in addition to the corresponding inventory management policy.Findings: The integrated model is solved by an exact method which illustrates the feasibility of the formulation in addition to the observance of the applied constraints. A sensitivity analysis is performed to highlight the interdependency across some key parameters to provide managerial insights within the studied framework while keeping the optimal solvability of the model.Research limitations/implications: The limitation of this study is the computational experiment study. An extensive experiment with a real-word case will outline the optimal solvability status of the exact method and the necessity for a performance benchmark through the approximate solving approaches.Originality/value: The present research aims to contribute as first studies toward mathematical modeling for supply chain decision planning endeavor operating within mass customization business model.

Supply Chain Planning in a Process Industry in India: A Case Study

Metamorphosis ◽  
2005 ◽  
Vol 4 (2) ◽  
pp. 157-170
Author(s):  
N. Ravichandran
Keyword(s):  
Supply Chain ◽  
Formal Methods ◽  
Inventory Management ◽  
Contextual Information ◽  
Process Industry ◽  
Raw Material ◽  
Western India ◽  
Class Room ◽  
Materials Planning

This case study documents the experience of using formal methods and modeling techniques in planning the components of supply chain in the context of a process industry unit located in western India. More specifically, details related to formal methods which will enable the management to improve efficiency related to raw material sourcing, materials planning, facilities planning and inventory management of package material are presented. The contextual information has been documented as a management case for teaching purposes at Indian Institute of Management, Ahmedabad. In the last segment of this case study, we summarize the experience in using this case in the class room. More specifically, the learning objectives, the set of issues discussed in the class and the experience in using this case are presented.

Developing Information Sharing Model Using Cloud Computing and Smart Devices for SMEs Supply Chain

2020 ◽  
pp. 791-812
Author(s):  
Chi-on Chan ◽  
Owen Liu ◽  
Ricky Szeto
Keyword(s):  
Cloud Computing ◽  
Supply Chain ◽  
Information Sharing ◽  
Size Distribution ◽  
Inventory Management ◽  
Supply And Demand ◽  
Smart Devices ◽  
Smart Device ◽  
Retail Stores ◽  
Fashion Industry

The mismatch between supply and demand always exists within the supply chain and among retail stores. This situation is even worse for SMEs who work without state-of-the-art technologies, especially in terms of quantitative demand and size distribution in fashion industry. In this paper, we develop a cloud computing and smart device (CCSD) model to address the stochastic deviation between supply and demand. A computational experiment proves that the performance of inventory management in the supply chain and among retail stores can be significantly improved by application of CCSD, irrespective of demand and size distribution. In this paper, we illustrate its benefits for both normal and right-skewed demand distribution. We find that different stages in supply chain can also be coordinated by using the CCSD platform. The results show that using all-channel communication network through CCSD increases the information sharing performance.

scholarly journals Collaborative predictive business intelligence model for spare parts inventory replenishment

2015 ◽  
Vol 12 (3) ◽  
pp. 911-930 ◽  
Author(s):  
Nenad Stefanovic
Keyword(s):  
Data Mining ◽  
Supply Chain ◽  
Inventory Management ◽  
Business Intelligence ◽  
Supply And Demand ◽  
Real Data ◽  
Business Environment ◽  
Spare Parts ◽  
Data Set ◽  
Inventory Replenishment

In today?s volatile and turbulent business environment, supply chains face great challenges when making supply and demand decisions. Making optimal inventory replenishment decision became critical for successful supply chain management. Existing traditional inventory management approaches and technologies showed as inadequate for these tasks. Current business environment requires new methods that incorporate more intelligent technologies and tools capable to make fast, accurate and reliable predictions. This paper deals with data mining applications for the supply chain inventory management. It describes the unified business intelligence semantic model, coupled with a data warehouse to employ data mining technology to provide accurate and up-to-date information for better inventory management decisions and to deliver this information to relevant decision makers in a user-friendly manner. Experiments carried out with the real data set, from the automotive industry, showed very good accuracy and performance of the model which makes it suitable for collaborative and more informed inventory decision making.

scholarly journals Competitividad en la cadena de suministro en la industria de aire acondicionado y refrigeración: síntomas, reacciones y propuestas

2017 ◽  
Vol 6 (11) ◽  
Author(s):  
G. Mayagoitia ◽  
J. Cruz
Keyword(s):  
Supply Chain ◽  
Key Words ◽  
Inventory Management ◽  
Critical Role ◽  
International Markets ◽  
Raw Material ◽  
Just In Time ◽  
Customer Requirements ◽  
Quality Review ◽  
Market Competitiveness

Key words: Competitiveness, inventory management, just in time, supply chain managementAbstract. The international markets are complete focus on the reduction of waste, this means increment of operative systems in matter to be at the top market competitiveness. From that perspective this paper will be present it as an alternative to the managers that includes into his daily agenda the continuous operative development. The balance between the customer requirements, the production capability and the procurement of the raw material, are element thatimpact the financial side of all companies and based on the achievement of these element will determinate the profit level and the increment of his competitiveness. The supply chain is tied to two key elements: 1) Quality & 2) Inventory, playing a critical role until the raw material is processto increment the add value, according the specification of the customers, and shipped, invoiced and pay from the customer based that the money always is a key issue. This paper will have 3 key elements: 1) Review of the current literature of inventory management, 2) symptoms analysis – and reactions of the companies with high inventory levels, plus the quality review and 3) Actionplant to revert the phenomena and competitiveness achievements.Palabra Claves: Administración de la cadena de suministros, Competitividad, Control de Inventarios, Justo a tiempoPalabras clave: Competitividad, justo a tiempo, manejo de inventario, manejo de cadena de suministroResumen. Los mercados internacionales – globalizados están plenamente enfocados a la disminución de los desperdicios, es decir; enfocados a mejorar los sistemas de operación para ser equiparables a los altos estándares de competitividad en el mercado abierto. De ahí la necesidad de presentar este artículo como una alternativa a los empresarios que continuamente busquenmejoras operativas dentro de sus operaciones. El balance de los requerimientos de los clientes, la capacidad de las líneas de producción y la capacidad de adquisición de materia prima, son  elementos que impactan en la finanzas de toda empresa; (costos fijos – costos variables) y dependerá en la forma de administración de tales elementos, el grado de utilidad que esta pueda generar; e incrementar su competitividad. La cadena de suministro se encuentra ligada a dos elementos claves: 1) Calidad, 2) Inventario, jugando un rol crítico al representar un costo estático hasta el momento que es procesado conforme a las especificaciones de los clientes, embarcado, facturado, y cobrado; sin perder de “enfoque” que el recurso de “capital” es siempre una limitante. El artículo comprenderá tres elementos claves: 1) Revisión de la literatura existente del manejo de inventarios, 2) Análisis de los síntomas – Reacciones de empresas con altos inventarios y el efecto de la calidad, y 3) Soluciones para revertir el fenómeno y Ventajas competitivas al lograrlo. 

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