An inventory system for varying decaying medicinal products in healthcare trade

Kumar, Kamal; Kumar, Neeraj; M, Meenu

doi:10.2298/yjor200125011k

Cited by 5 publications

(4 citation statements)

References 27 publications

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“…This assumption makes the model applicable to many deteriorating products because as the holding time of drugs increases, the percentage of deteriorated drugs increases. This assumption and the type of model utilized have been claimed to be more significant and logical than a constant rate in healthcare systems (Kumar & Kumar, 2021 ). The distributors are responsible for determining the policy of the distributors-pharmacies model.…”

Section: The Proposed Modelmentioning

confidence: 99%

“…Another audit in the same year showed that pharmaceutical companies had about $2.05 billion worth of medicines with expired dates. Issues such as incorrect prescription of drugs (Afanasjeva & Gruenberg, 2019 ) and problems related to drug inventory control, such as over-ordering drugs (Kumar & Kumar, 2021 ), have exacerbated this challenge, especially in distributors and pharmacies, which are the downstream echelons of the PSC. These pieces of evidence suggest that considering deterioration in the PSC models is of much significance (Zandkarimkhani et al, 2020 ).…”

Section: Introductionmentioning

confidence: 99%

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RETRACTED ARTICLE: A game theory data science-based mechanism for licensed pharmaceutical products concerning their deterioration: a case of a micro, small, and medium enterprise in Iran

et al. 2023

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One of the main characteristics of health systems and pharmaceutical supply chains is their significant costs in the public sector, which has forced governments and companies active in this field to find ways to reduce costs. In this paper, the deterioration of imported pharmaceutical items is investigated as one of the challenges of the supply chain of pharmaceutical firms. Specifically, the micro, small medium enterprise (MSME), and a collaborative strategy to reduce its costs is presented. The technical solution of the cooperative strategy is the formation of a partnership alliance between the foreign patent holder of brand drugs and a domestic manufacturer through an exclusive license contract in the local country. This leads to a significant reduction of costs in the distribution network of the pharmaceutical supply chain. On the other hand, supply chain management techniques in the cooperative strategy provide the necessary motivation for its practical implementation by splitting fair profits between producers and other members, namely local government, distributors, and pharmacies. For these purposes, a cooperative game theory-based contract is utilized to set the parameters of the license agreement, and then a profit-sharing mechanism is introduced that splits the benefits of cooperation among the supply chain members based on their afforded costs. The most important contribution of the current research is to propose an integrated framework that combines the logistics network models, valuation methods, and profit split mechanisms that embody more facts from real-world problems than separate models in this regard in previous studies. Moreover, results of the proposed strategy in the supply chain of a drug for thalassemia patients in Iran indicate the effectiveness of the proposed strategy in reducing costs and deterioration. Further, it is shown that the higher the ordering costs of the imported drugs, the lower the market share of the patent holder, and the lower the financing expenses of the cooperative alliance, the more efficient is the proposed strategy.

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Section: The Proposed Modelmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

RETRACTED ARTICLE: A game theory data science-based mechanism for licensed pharmaceutical products concerning their deterioration: a case of a micro, small, and medium enterprise in Iran

et al. 2023

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“…Abdul Halim et al [13] studied inventory model with an overtime production opportunity for deteriorating items. K. Kumar et al [14] proposed an inventory model for healthcare medicinal products with deterioration rate following three parameter Weibull distribution under the inflation and partial backlogging. Barman et al [15] analysed optimal production policy for supply chain model with two levels for deteriorating products considering both cases, with and without shortage.…”

Section: Introductionmentioning

confidence: 99%

“…The model has distinctive design due to probabilistic deterioration. K. Kumar et al [14] formulated an inventory model where demand is time dependent and ordering cost is function of time as well, where trapezoidal fuzzy numbers are used and partial backlogging are allowed for deteriorating items. S. Kumar [25] developed a production inventory model with exponential time dependent demand under fuzzy environment and shortages are partially backlogged.…”

Section: Introductionmentioning

confidence: 99%

Fuzzy Inventory Model with Variable Production and Selling Price Dependent Demand under Inflation for Deteriorating Items

Shaikh¹,

Gite²

2022

AJOR

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The main purpose of this paper is to develop an inventory model under fuzzy approach by considering the effect of inflation and time value of money, to determine the optimal time period for inventory cycle and minimum total average costs. The model is integrated production inventory model developed where; the Demand has a direct linear impact on production rate. The model can be divided into four stages. In the first two stages with original production rate and subsequent change in production rate, inventory level rises. Third stage is time after the accumulation of inventory and before the deterioration starts, where demand which selling price dependent is depreciating the inventory level, while in the fourth stage deterioration occurs, which is considered to follow two parameter Weibull distribution. The back-order is not considered. Hexagonal fuzzy numbers are used to derive optimum solution and defuzzification by graded mean integration representation method. A numerical example is given to demonstrate the applicability of the purposed model and sensitivity analysis is carried out to reveal the impact of change in parameter values.

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A Study on a System of Electronic Appliances with Parabolic-Time Linked Holding Cost and Partial Backlogging Under Inflation

Rastogi,

Tayal,

Singh

2023

Int. J. Appl. Comput. Math

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An inventory system for varying decaying medicinal products in healthcare trade

Cited by 5 publications

References 27 publications

RETRACTED ARTICLE: A game theory data science-based mechanism for licensed pharmaceutical products concerning their deterioration: a case of a micro, small, and medium enterprise in Iran

RETRACTED ARTICLE: A game theory data science-based mechanism for licensed pharmaceutical products concerning their deterioration: a case of a micro, small, and medium enterprise in Iran

Fuzzy Inventory Model with Variable Production and Selling Price Dependent Demand under Inflation for Deteriorating Items

A Study on a System of Electronic Appliances with Parabolic-Time Linked Holding Cost and Partial Backlogging Under Inflation

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