Application  of  Selective Inventory  Control  Models  in  the Pharmaceutical Industry: A Literature Review

leena naidu; rachita naidu

Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review

April 2020

Vol-6, Issue-2

Paper ID: 11850

ISSN: 2395-4396

Downloads: 0

Abstract & Details

Research Area

Industrial engineering

Keywords

selective inventory control models pharmaceutical centers applications. ABC VED FSN XYZ MRP data collection tools

Abstract

The purpose of this paper is to demonstrate the use of different selective inventory models in pharmaceutical centres and medical facilities. The objective of the study is to give a clear idea of how the logistics and supply chain for different drugs are managed in the healthcare industry. Hospitals need to stock medicines depending upon the requirement, availability and costs so that the inventory holding costs can be curtailed and the allocated budget can be utilised coherently. Based on the literature, the most common inventory control models used for the effective management of the medicines are ABC, VED and a combination of the two followed by FSN, XYZ and MRP models used in integration with one another.

License

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Author Information

#	Name	Institute / Affiliation
1	leena naidu	shri ramdeobaba college of engineering and management, nagpur
2	rachita naidu	shri ramdeobaba college of engineering and management, nagpur

How to Cite

Use the following formats to cite this article in your research.

APA Style

naidu, leena & naidu, rachita (2020). Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review. International Journal of Advance Research and Innovative Ideas In Education, 6(2), 1466-1471.

MLA Style

naidu, leena, and rachita naidu. "Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review." International Journal of Advance Research and Innovative Ideas In Education, vol. 6, no. 2, 2020, pp. 1466-1471.

IEEE Style

leena naidu and rachita naidu, "Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review," International Journal of Advance Research and Innovative Ideas In Education, vol. 6, no. 2, pp. 1466-1471, 2020.

Vancouver Style

naidu leena, naidu rachita. Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review. International Journal of Advance Research and Innovative Ideas In Education. 2020;6(2):1466-1471.

Harvard Style

naidu, leena & naidu, rachita (2020) 'Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review', International Journal of Advance Research and Innovative Ideas In Education, 6(2), pp. 1466-1471.

Chicago Style

naidu, leena and rachita naidu. "Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review." International Journal of Advance Research and Innovative Ideas In Education 6, no. 2 (2020): 1466-1471.

Turabian Style

naidu, leena and rachita naidu. "Application of Selective Inventory Control Models in the Pharmaceutical Industry: A Literature Review." International Journal of Advance Research and Innovative Ideas In Education 6, no. 2 (2020): 1466-1471.