 |
International Society of Science and Applied Technologies |
| Programming Inventory Management Procedures for a Manufacturing Company in the Pharmaceutical Sector | ||||
| Author | Abhishek Tiwari
|
|||
| Co-Author(s) | Silvia Carpitella
|
|||
| Abstract | This paper introduces a structured procedure for inventory management with a practical application in a pharmaceutical company. To address the complex nature of inventory decisions, we present a multi-criteria decision-making model grounded in the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). Furthermore, we enhance this approach by developing a coding procedure capable of automating the selection and visualization of specific items within the inventory, which may occupy varying positions in the ranking generated by TOPSIS. Our innovative method offers adaptability for use in diverse operational settings beyond the pharmaceutical sector. We also provide a comprehensive discussion on how to effectively integrate the model’s outcomes with the practical constraints imposed by the company, enabling informed and data-driven inventory management decisions.
|
|||
| Keywords | Inventory Management, MCDM, SME | |||
| Article #: RQD2024-187 | ||||
Proceedings of 29th ISSAT International Conference on Reliability & Quality in Design |