Inventory strategies for patented and generic products for a pharmaceutical supply chain
Name
827223256-MIT.pdf
Description
Full printable version
Size
10.51 MB
Format
Adobe PDF
Checksum (MD5)
70f349355d699c08fc7ac507ed6aeea3
Author(s)
Krishnamurthy, Prashanth, M. Eng. Massachusetts Institute of Technology
Prasad, Amit
Advisor(s)
Jarrod Goentzel.
Date Issued
2012
Publisher
Massachusetts Institute of Technology
Abstract
This thesis presents a model to determine safety stock considering the distinct planning parameters for a pharmaceutical company. Traditional parameters such as forecast accuracy, service level requirements and average lead-time are combined with a nontraditional upstream uncertainty parameter defined as supply reliability. In this instance, supply reliability measures uncertainty in the supply quantity delivered rather than variability in the lead-time for delivery. We consider the impact of the safety stock using two products: a proprietary product that is patented and a generic product that recently went off patent. Sensitivity analysis is performed to provide insights on the impact of variations in input parameters. The study shows that there is a significant difference in safety stock between the proposed model and the current model used by the company.
Description
Thesis (M. Eng. in Logistics)--Massachusetts Institute of Technology, Engineering Systems Division, 2012.
Cataloged from PDF version of thesis.
Includes bibliographical references (p. 76-77).
Subjects
Engineering Systems Division.
MIT Department
Massachusetts Institute of Technology. Engineering Systems Division
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copyright. They may be viewed from this source for any purpose, but
reproduction or distribution in any format is prohibited without written
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