The benefits (or detriments) of adapting to demand disruptions in a hospital pharmacy with supply chain disruptions
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View abstract on PubMed
Summary
This summary is machine-generated.Hospital pharmacies can optimize drug inventory by adapting policies to demand changes. A drug
Area Of Science
- Operations Research
- Healthcare Management
- Supply Chain Management
Background
- Hospital pharmacy managers face challenges in inventory control due to supply chain and demand disruptions.
- Insufficient inventory causes drug shortages, while excess inventory leads to drug waste.
- Adapting inventory policies can mitigate shortages and waste, especially during demand fluctuations like the COVID-19 pandemic.
Purpose Of The Study
- To investigate how a drug's shortage-waste weighting and supply chain disruption characteristics influence the benefits of adaptive inventory policies.
- To develop and analyze an adaptive inventory system for hospital pharmacies.
- To identify which drugs require policy updates to maximize the benefits of adaptive inventory management.
Main Methods
- Developed an adaptive inventory system where policies change over time.
- Conducted extensive numerical analysis using real-world demand data from a university hospital pharmacy.
- Created a ranking procedure to prioritize drugs for inventory policy updates.
Main Results
- A drug's shortage-waste weighting significantly impacts the benefits or detriments of adaptive inventory policies.
- For fixed supply chain disruption parameters, weighting is the primary driver of adaptive policy effectiveness.
- A small proportion of drugs (<math></math>) require updates to achieve maximum benefits from adaptive policies.
Conclusions
- Drug shortage-waste weighting is critical in determining the value of adaptive inventory policies in hospital pharmacies.
- A practical ranking procedure can guide decision-makers in prioritizing inventory policy updates.
- Adaptive inventory management, when strategically applied to a small subset of drugs, offers substantial benefits for mitigating shortages and waste.
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