A Joint Replenishment Inventory Model to Control Multi-Item Medicines with Consideration of Space Requirements in the Hospital

Saputra

Khan

2022

JNEST

With the increasing level of competition between companies, companies are required to be able to manage their inventory system optimally. In the pharmacy supply system, it is important to consider the uncertainty factor because the demand for medicines depends on the uncertain nature of the disease, besides that there is an expiration factor that must be considered because medicines must have an expiration date. To solve the problem of expiration, the supplier usually provides a return policy in accordance with the specified conditions. In addition, pharmacies also have limitations on warehouse capacity that must be considered. To solve the problem of limited warehouse capacity in this study, an approach to the requirements of the Karush Kuhn-Tucker method was used. From the developed model, two ordering times are obtained, namely and which will be compared to get the optimal ordering time. From the analysis of the model, it is found that the more characteristic considerations in an inventory system, the greater the total inventory cost.

Section: Algorithmmentioning

confidence: 99%

Safety Stock, Warehouse Capacity, and Return of Goods in Inventory Model Development

Saputra

Khan

2022

JNEST

“…The pharmaceutical installations selling medicines have four factors that must be considered in controlling their inventory. These factors include the possibility of drugs being damaged due to an expiration period ( [2] and [3]). It is also the possibility of paying for goods within a grace period given after the goods are received, the chance of discounts in the purchase of medicines, and the possibility of returning damaged medication if they are under the supplier's requirements.…”

Section: Introductionmentioning

confidence: 99%

Economic Order Quantity Inventory Considering Perishable Factor in Product, Delay in Payment, All-Unit Discount, and Product Return

Kartawirawan

Bouguern

2022

ESL

The inventory existence of the company is a waste but still needed to maintain service level. For drug industry companies, especially pharmaceutical installations, the expiration factor is a factor that needs to be considered because drugs have an expiration date. Previous research has an inventory model that considers product expiration factors, permissible payment delays, and price discounts. The developed study provides a solution to the loss of expiry costs by adding a return factor. This research aims to create an inventory model that considers expiration factors, permissible payment delays, discounts, and product returns. The result of the developed model can minimize the total cost of inventory by 3.37% with the predefined parameters compared to the previous model, which has not considered the return factor.

Inventory Policy for Retail Stores: A Multi-Item EOQ Model Considering Permissible Delay in Payment and Limited Warehouse Capacity

Sembiring

2022

J. Optimasi Sist. Ind.

The retail industry such as minimarkets has many products consisting of several types of products that have expiration dates. Their warehouses have limited capacity, making it difficult to make decision about optimum inventory. Most of the suppliers will give permissible delay in payment, that can be used to increase income potential through earned by considering the risk of fines imposed if payments are exceeded and help companies raise capital before generating sales. These three factors must be considered when developing the inventory model. The purpose of this study is to develop a multi-item inventory model by considering perishable or damaged products, permissible delay in payment in limited warehouse. Model development is carried out in 2 stages. The first stage was the development of a multi-item EOQ model by considering product defects and permissible delay in payment. The second stage model is by adding a capacity constraint factor to the model. The results obtained are getting the optimal order quantity by considering the number of product types, product damage factors, late payments in limited warehouses, the best ordering policy can be found, and it is known that the total inventory costs to changes in parameters are good and sensitive to changes in percentage, interest percentage, payment allowances, and warehouse capacity through sensitivity tests.