scholarly journals Study of Inventory Management in Pharmaceuticals: A Review of COVID-19 Situation

2020 ◽  
Vol 5 (8) ◽  
pp. 366-371
Author(s):  
Mir Mohammed Junaid Basha ◽  
Navya V.S ◽  
Sonali Tukaram Wani ◽  
Prof. Vivekanand S Gogi
Keyword(s):  
Inventory Management ◽  
Systematic Evaluation ◽  
Optimum Level ◽  
Control Techniques ◽  
Abc Classification ◽  
Correct Analysis ◽  
Capsule Production ◽  
Pharmaceutical Industries ◽  
Drug Handling

The study uses the inventory audit procedure to improve the inventory status of pharmaceuticals by selective inventory control techniques. Pharmaceuticals are vital sectors of medical industry, but because of the current situation, of COVID-19 Pandemic, there is a lot of reduction in capsule production, many of the pharmaceutical industries have rejected orders due to shortage of medicinal products during lockdown. This study uses systematic evaluation, statistical methods, Fuzzy logic, ABC-VED, EOQ, JIT etc. based on these methods the classification of various models for pharmaceutical inventory are incorporated. This also summarizes some of the case studies conducted based on the annual expenditure with ABC classification in the pharmaceuticals. The basic aim is to identify and improve the problems of inventory management by proposing a timely correct analysis. In this study, all methods that are primarily used in the inventory management of drug handling are reviewed and the best methods have been suggested that, when combined and applied in an automated environment, they can help to keep the inventory at an optimum level.

scholarly journals Construction Material Management through Inventory Control Techniques

2018 ◽  
Vol 7 (3.12) ◽  
pp. 899
Author(s):  
V RathinaKumar ◽  
K Lalitha Priya ◽  
Prasanna Kumar.I ◽  
C Ravekumar
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Construction Material ◽  
Construction Materials ◽  
Curve Analysis ◽  
Total Expenditure ◽  
Material Management ◽  
Control Techniques ◽  
Abc Classification ◽  
S Curve

Objectives: A research has shown that the construction materials account for more than 55%-60% of the total expenditure of a project. Efficient material planning plays a major role in the successful handing over of a project within the estimated cost and schedule. Methods: This paper mainly focuses on materials planning and inventory control as these are the major aspects of material management. S-curve analysis is performed to measure the fluctuation between estimated materials cost and market materials cost. The major reasons for this are identified by interviewing engineers and contractors. Inventory control techniques such as ABC classification as well as EOQ analysis are conducted. Findings: The result of the S-curve analysis show that the actual materials cost is higher than the planned materials cost in most cases. ABC and EOQ analysis are applied to maintain sufficient stock in inventory and any given point of time, to protect the materials in the inventory against damages, to reduce inventory holding costs, to overcome stock-out problems and to maintain the inventory in an optimal level. Sensitivity check is applied to the results of EOQ analysis. The stock-out of A class and B class material problems faced in the  construction site can be reduced by  the application of ABC classification and BOQ analysis. The total expenditure of inventory is less after the adoption of these simple inventory control techniques.  Conclusion: Instead of using costly software for inventory management, the engineers and contractors may use these simple inventory control techniques which are equally beneficial and economical.   

ANALYSIS OF THE MANAGEMENT OF MATERIAL AND TECHNICAL ASSETS OF ENTERPRISES

2021 ◽  
Vol 116 (1) ◽  
pp. 293-299
Author(s):  
Aizhan Talgatkyzy Syrkebai
Keyword(s):  
Inventory Management ◽  
Realistic Model ◽  
Process Approach ◽  
Sustainable Competitive Advantage ◽  
Order Quantity ◽  
Specific Product ◽  
Abc Classification ◽  
Eoq Model ◽  
Demand Rate ◽  
Abc Analysis

Variability of demand for goods, depending on their availability and cost is a frequently observed phenomenon in the sphere of production and consumption. This paper discusses the possibility of using the ABC analysis for the inventory management system. This type of analysis makes it possible to apply various methods of inventory management for increasing the income and reducing the costs of particular products for manufacturers. As is known, the management process approach emphasizes the systematic study of management by defining management functions in an organization and then examining each in detail. There is a general agreement on the planning, organizing, and controlling functions. Traditional inventory management systems, such as the Lean Order Quantity (EOQ) model, are based on the assumptions of constant demand rate, constant inventory cost, and instant order. The EOQ assumption of instant order receipt means that the entire order quantity, that is, all units of the purchased lot is immediately received from the supplier. The Economic Production Quantity (EPQ) model weakens this assumption by including incremental order receipt, i.e. debit. In recent years, major advances in the sphere of management include the following elements: process approach management science decision support approach, scientific approach to human resources development, and sustainable competitive advantage. These four approaches complement one another in current practice and provide a useful framework for project management. This paper presents a realistic model of the goods production and their inventory, since ABC analysis or ABC classification is an integral part of materials management. According to this approach, the inventory is divided into three categories depending on income generation. The ABC analysis helps entrepreneurs identify the main types of products in the warehouse, prioritize the goods management based on their cost, and analyze customer demand for a specific product.

scholarly journals Benchmarking joint multi-omics dimensionality reduction approaches for cancer study

2020 ◽  
Author(s):  
Laura Cantini ◽  
Pooya Zakeri ◽  
Celine Hernandez ◽  
Aurelien Naldi ◽  
Denis Thieffry ◽  
...  
Keyword(s):  
Dimensionality Reduction ◽  
Ground Truth ◽  
Systematic Evaluation ◽  
Omics Data ◽  
Biological Processes ◽  
Cancer Data ◽  
Practical Guidelines ◽  
Cell Data ◽  
Omics Data Integration

AbstractHigh-dimensional multi-omics data are now standard in biology. They can greatly enhance our understanding of biological systems when effectively integrated. To achieve this multi-omics data integration, Joint Dimensionality Reduction (jDR) methods are among the most efficient approaches. However, several jDR methods are available, urging the need for a comprehensive benchmark with practical guidelines.We performed a systematic evaluation of nine representative jDR methods using three complementary benchmarks. First, we evaluated their performances in retrieving ground-truth sample clustering from simulated multi-omics datasets. Second, we used TCGA cancer data to assess their strengths in predicting survival, clinical annotations and known pathways/biological processes. Finally, we assessed their classification of multi-omics single-cell data.From these in-depth comparisons, we observed that intNMF performs best in clustering, while MCIA offers a consistent and effective behavior across many contexts. The full code of this benchmark is implemented in a Jupyter notebook - multi-omics mix (momix) - to foster reproducibility, and support data producers, users and future developers.

scholarly journals Effects of Inventory Management on The Performance of State Corporations in Kenya

2020 ◽  
Vol 4 (2) ◽  
pp. 27
Author(s):  
Kwambai Mercy Jelagat ◽  
Dr. Samson Nyang’au Paul
Keyword(s):  
Information Technology ◽  
Technology Integration ◽  
Inventory Control ◽  
Inventory Management ◽  
P Value ◽  
Demand And Supply ◽  
Independent Variables ◽  
Control Techniques ◽  
Unit Increase ◽  
The Relationship

Purpose: The purpose of the study was to determine the effects of inventory management on the performance of state corporations in Kenya with an aim of making recommendations.Methodology: The study employed a descriptive research design. The researcher preferred this method because it allows an in-depth study of the subject. Data was collected using self-administered questionnaires. The study employed stratified random sampling technique in coming up with a sample size. Pilot study was carried out to establish the validity and reliability of the research instruments. The instruments were designed appropriately according to the study objectives. The data collected was analyzed by use of descriptive and inferential statistics. The study used multiple regression and correlation analysis to show the relationship between the dependent variable and the independent variables. The data generated was keyed in and analyzed by use of Statistical Package of Social Sciences (SPSS) version 24 to generate information which was presented using charts, frequencies and percentagesResults and conclusion: The regression equation above has established that taking all factors into account (inventory categorization, inventory control techniques, information technology integration and demand and supply forecasting) constant at zero, performance of state corporations in Kenya will be an index of 0.817.The findings presented also shows that taking all other independent variables at zero, a unit increase in inventory categorization will lead to a 0.537 increase in performance of state corporations in Kenya. The P-value was 0.000 which is less 0.05 and thus the relationship was significant. The study also found that a unit increase in inventory control techniques will lead to a 0.097 increase in performance of state corporations in Kenya. The P-value was 0.002 and thus the relationship was significant. In addition, the study found that a unit increase in information technology integration will lead to a 0.067 increase in the performance of state corporations in Kenya. The P-value was 0.000 and thus the relationship was significant. Lastly, the study found that a unit increase in demand and supply forecasting will lead to a 0.08 increase in the performance of state corporations in Kenya. The P-value was 0.001 and hence the relationship was significant since the p-value was lower than 0.05. The findings of the study show that, inventory categorization contributed most to the performance of state corporations in Kenya. The findings of the study indicated that; safety stock management, inventory control techniques, information technology integration and demand and supply forecasting have a positive relationship with performance of state corporations.Unique contribution to theory, policy and practice: Finally, the study recommended that public institutions should embrace inventory optimization practices so as to improve their performance and further researches should to be carried out in other public entities to find out if the same results can be obtained.

scholarly journals ABC classification of spare parts considering costs and service

2016 ◽  
Vol 22 (3/4/5) ◽  
pp. 244
Author(s):  
Manuel Cardós ◽  
Ester Guijarro ◽  
Eugenia Babiloni
Keyword(s):  
Spare Parts ◽  
Abc Classification

Demand Forecasting

2020 ◽  
pp. 1-21
Author(s):  
Natalie Nicole Mar Hernández ◽  
Patricia Cano-Olivos ◽  
Diana Sánchez-Partida ◽  
José-Luis Martínez-Flores ◽  
Santiago Omar Caballero-Morales
Keyword(s):  
Neural Networks ◽  
Demand Management ◽  
Demand Forecasting ◽  
Planning Horizon ◽  
Statistical Information ◽  
Production Data ◽  
Ann Model ◽  
Abc Classification ◽  
The City

This chapter provides a proposal for demand management in furniture SMEs located in the city of Puebla, México. The historical production data reviewed, and the classification of the most critical articles was made using the ABC classification methodology. Subsequently, the literature of SMEs was analyzed as well as the current situation and statistical information was sought. Additionally, it presented an overview of the models to forecast demand and applied to the most relevant articles. Due to the results and previous study, it was decided to implement a forecasting technique which is modelled by artificial neural networks. The ANN model developed with the TANSIGMOID transfer function by using MATLAB software. The appropriate forecasting techniques selected according to the variability of the demand of the articles takes a short-term planning horizon. This research will help the company reduce uncertainty, forecasting sales, and achieve better production planning through ANNs.

scholarly journals A Survey of Pressure Control Approaches in Water Supply Systems

Water ◽  
2020 ◽  
Vol 12 (6) ◽  
pp. 1732
Author(s):  
Thapelo C. Mosetlhe ◽  
Yskandar Hamam ◽  
Shengzhi Du ◽  
Eric Monacelli
Keyword(s):  
Water Distribution ◽  
Pressure Control ◽  
Distribution Networks ◽  
Water Supply Systems ◽  
Entire System ◽  
Control Techniques ◽  
Research Areas ◽  
Solution Methods ◽  
Supply Systems

Pressure control in water distribution networks (WDNs) provides an avenue for improving both their sustainability and reliability. The complexities of the networks make the problem more challenging as various situational operations must be accounted for to ensure that the entire system performs under recommended conditions. In general, this problem is addressed by the installation of pressure reducing valves (PRVs) in WDNs and determining their appropriate settings. Researchers have proposed the utilization of several control techniques. However, the limitations of both computational and financial resources have compelled the researchers to investigate the possibility of limiting the PRVs while ensuring their control is sufficient for the entire system. Several approaches have been put forward to mitigate this sub-problem of the pressure control problem. This paper presents a review of existing techniques to solve both the localization of PRVs and their control problems. It dwells briefly on the classification of these methods and subsequently highlights their merits and demerits. Despite the available literature, it can be noted that the solution methods are yet to be harmonized. As a result, various avenues of research areas are available. This paper further presents the possible research areas that could be exploited in this domain.

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