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Applying Actual Usage Inventory Management Best Practice in a Health Care Supply Chain

International Journal of Supply Chain Management

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Title Applying Actual Usage Inventory Management Best Practice in a Health Care Supply Chain
 
Creator Varghese, Vijith
Rossetti, Manuel
Pohl, Edward
Apras, Server
Marek, Douglas
 
Description The demand characteristics and optimal control policies for pharmaceutical items within a multi-echelon provider network are examined within the framework of a case study. This paper lays a foundation for the better understanding of the application and acceptance of more advanced inventory control practices driven by actual usage data within the health care supply chain. Demand forecasting algorithms were applied to forecast demand for inventory control procedures.  The costs of inventory control models are compared to the current ordering and inventory control strategies to document potential cost savings using both a single echelon analysis and a multi-echelon analysis. The results indicate that there is great potential for significant cost savings within the provider network. It is likely that if other providers adopt such practices that they will be able to better control material supply costs.
 
Publisher International Journal of Supply Chain Management
 
Contributor —
 
Date 2012-10-14
 
Type Peer-reviewed Article
 
Format application/pdf
 
Identifier http://ojs.excelingtech.co.uk/index.php/IJSCM/article/view/574
 
Source International Journal of Supply Chain Management; Vol 1, No 2 (2012): International Journal of Supply Chain Management (IJSCM)
 
Language en
 
Rights The copyright of the contribution is transferred to IJSCM in case of acceptance. The copyright transfer covers the exclusive right to reproduce and distribute the contribution, including reprints, translations, photographic reproductions, microform, electronic form, or any other reproductions of similar nature.The Author may publish his/her contribution on his/her personal Web page provided that he/she creates a link to the mentioned volume of IJSCM.The Author may not publish his/her contribution anywhere else without the prior written permission of the publisher unless it has been changed substantially. The Author warrants that his/her contribution is original, except for such excerpts from copyrighted works as may be included with the permission of the copyright holder and author thereof, that it contains no libellous statements, and does not infringe on any copyright, trademark, patent, statutory right, or propriety right of others.The Author also agrees for and accepts responsibility for releasing this material on behalf of any and all co-authors.