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Pharmaceutical company SPM has over 400 cases of inventory discards over the past five years which constitute a significant operating cost. Due to the complexity and randomness of each case, the root causes that result in inventory discards are not identified by the management, thereby hindering SPM from coming up with effective discard minimization practices. This thesis investigates the discard reasons and analyzes the severity of each cause. Raw material expiration is identified as one of the primary discard causes. High raw material inventory level is resulted from the current inadequate inventory management practices in SPM. A raw material inventory management procedure with appropriate inventory grouping strategies incorporating the shelf life is developed in order to help SPM reduce its waste in material expiration. Based on the study of demand information and forecast accuracy, different inventory models are applied to classified inventory groups to determine the amount of inventory to be ordered and kept as safety stock. The study finds that the new procedure reduces the average inventory costs of the items studied by 43%.
Pharmaceutical companies have traditionally placed little emphasis on supply chain efficiencies and operations costs. With the changing landscape of expiring intellectual property rights and increased market segmentation, the need for improved supplier relations and inventory management is becoming paramount. This thesis presents a study of a procurement system within a biopharmaceutical company. The many sources of variation in delivery lead times from both suppliers and internal departments coupled with variation in manufacturing demand, has resulted in excess raw-material inventory at the company. By using discrete-events-simulation software to model the system and its inputs, we generate insights that can help the materials management team maximize their efforts to improve the system performance. In this particular case, it was found that reducing supplier lead time variability was far more effective in reducing the need for inventory than reducing average lead times or even internal lead times from the Quality Control department. The pharmaceutical company involved in this study would be best served by focusing its efforts on working with suppliers to increase the consistency of delivery for their raw materials. This increased consistency will allow them to reduce total inventory costs by reducing the variability of the raw-material supplies.
Due to the origin of Lean, it is widely used in manufacturing focussed companies like automotive industry but in current scenario the concept of Lean Manufacturing has been adopted by different businesses as well. In view of this, the objective of the report is to study the different approaches of Lean Manufacturing and the challenges which Pharma companies are facing in implementation of Lean Manufacturing and also the progress report of some companies to know whether any drug manufacture has truly made some progress or not.
Publisher's Note: Products purchased from Third Party sellers are not guaranteed by the publisher for quality, authenticity, or access to any online entitlements included with the product. This book brings together a winning team of international operations experts to set the framework for building a world-class manufacturing organization. Pharmaceutical Operations Management focuses on key concepts such as: Policy Execution, Risk Management, Supply chain modeling, Advance process control and Six Sigma for the pharmaceutical industry: critical techniques which will offset cost, increase efficiency and turn any manufacture into financial winner.
The book Inventory Management Principles and Practices explains all the fundamental principles of Inventory Management. It starts with a definition of Inventory, why it is needed as well as not needed, what is its impact on a business, how do we classify them for ease of control and what are the various techniques of inventory control. Inventory is an outcome of procurement. So obviously, while studying inventories, the logic behind its procurement should be studied. Hence, chapters on Manufacturing Resources Planning have been added. Just-in-time principles and TQM are some more methods of achieving world-class manufacturing, so they have also been included here. In the present scenario, all activities are being computerized. So lessons on e-commerce as well as all the latest technologies that are affecting Inventory Management have been included. Chapters have been included on methods to handle specific classes of inventories such as spare parts inventory, finished goods inventory, work-in-process inventory, surplus, obsolete and non-moving inventory, etc. Logistics and supply chain management defines the path which a material takes in it s life through a company. So it was essential to include a chapter on it also. Keeping in mind the syllabus prescribed in the various universities on this subject, the chapters have been designed accordingly. A chapter has also been included on some motivational thoughts outlining some principles, which would help us to become successful in life. The principles outlined here are universal, applicable to any situation, organization or country.
Inventory control is the one of the important performance goals of any manufacturing or service organization. Models related to inventory control, of products having limited life-time, have been proposed in literature. Most of these models assume cases of instantaneous replenishment. However, in any manufacturing process, positive lead-time is common, and a formal analysis of such cases under realistic conditions is necessary. In this paper, a scheduling heuristic to address the problem of inventory control of life-limited or perishable products has been proposed. This heuristic has been adapted from the scheduling rules of Process Flow Scheduling literature, and modified, especially, for production scheduling issues in the pharmaceutical industry. Two simulation models, each representing a 'make-to-stock' and 'make-to-order' system for a generic process, have been constructed. Sensitivity analysis study of the proposed method for various factors such as product quality yield, variability in the setup durations, variability in processing duration, etc. is conducted by experimental design. Results of this study will serve as an excellent guideline for industries facing the problem of perishability of raw materials and intermediate products.