201. Medical inventory cost reduction: A survey based study.
- Author
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Kumar, Raunak and Pande, Sagar
- Subjects
DESTOCKING ,INVENTORY costs ,COST control ,MEDICAL care costs ,INVENTORY shortages - Abstract
Pharmaceutical industry It is a genuinely global industry that is the principal supplier of products and clinical devices for hospitals all over the world. Pharmaceuticals, being the heart of the hospital, deals with a wide range of issues. This sort of issue occurs because they do not employ or do not have a structured methodology to follow. The research of several authors here represents a very significant part of the medical inventory, namely cost reduction and stockouts, which have been tackled using various techniques. The paper explains how classic statistical approaches may be used to anticipate the proposed methodology i.e., weather conditions, and to identify which limited-inventory items should be bought to reduce inventory costs and overstocking. The report concludes with a thorough assessment of the proposed technique. Using the technique proposed in this study, the overall inventory level of the concerned medical distribution organization could be lowered to a minimum. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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