A Sustainable And Environmentally Conscious Inventory Model With TPD Demand For Deteriorating Pharmaceutical Products Of Fixed Lifetime

Abstract

In this paper, an ecologically friendly inventory model was worked out for the pharmacy industry, where the management of stocks is even more difficult in the case of perishable stock and time- and price-variable demand. Normal models can typically do poorly with the dual difficulty of variable demand and decay, resulting in needlessly uncompliant stocking or stingy stockouts of stocks. The presented model brings together the time- and price-determined demand and time-varying deterioration rates and presents an empirical time and volume of orders optimization model. It can manage stocks effectively with realistic data and use superior mathematical methods to minimize wastages and meet the objectives of environmental sustainability. It defends itself by providing case studies and simulation outcomes that support its solid and robust nature, with the ability to generate savings of great magnitude. Conclusively, this research work serves a contribution to pharmacy supply chains by demanding the need to cognitively balance between economic optimality and ecological responsibilities.