A Multi-Product and Multi-Period Inventory Planning Model to Optimize the Supply of Medicines in a Pharmacy in Barranquilla, Colombia

Abstract

Background: Supply chains in pharmaceutical industry encounter constant challenges in balancing the availability of medicine with cost efficiency, particularly in developing regions with limited storage capacity, as regulatory constraints increase operational complexity. Methods: This research focuses on developing a multi-product, multi-period inventory planning model designed to optimize the supply process for a pharmacy located in Barranquilla, Colombia. The methodology involves conducting field studies within the pharmaceutical sector, which includes regular visits to pharmacies, interaction with employees, and analysis of historical data collected over a 16-month period. Results: The primary goal is to minimize costs while ensuring that products remain available to customers, considering various internal and external factors. Several scenarios will be examined to evaluate different alternatives for enhancing the supply process. Initial findings suggest that the proposed model could reduce inventory planning costs by approximately 15.78% by classifying antibiotics, which in turn leads to better resource utilization and improved order management. Conclusions: The proposed model minimizes the inventory planning costs associated with antibiotic management, ultimately leading to improved resource utilization and more accurate order management.