Title: Optimal Health Care Inventory Management Using Analytics

Year of Publication: Sep - 2015
Page Numbers: 37-42
Authors: Neeraj Agrawal , Prakarsh Paritosh, Ashish Paralikar and Dibyajyoti Pati
Conference Name: The International Conference on Database, Data Warehouse, Data Mining and Big Data (DDDMBD2015)
- Indonesia

Abstract:


Inventory Management is an important issue for health-care systems because it influences clinical and financial decisions. Before selecting, adapting and implementing a process for Inventory management, it is important that the various factors affecting Inventory management are carefully considered. The objective of this paper is twofold. First, it proposes an analytic model for hospital inventory management commodities, which would be able to predict the future demands of various inventory commodities. The model takes into account previous demand, population and geographic Location and other factors to successfully predict the future demand. Second, the paper suggests an optimization model that would minimize the cost involved in supply chain & logistics management so that the required commodities can be made available to the hospitals at the minimum possible cost. A web based portal is proposed to facilitate the hospitals to optimally distribute future inventory requirements among the different vendors.