Author : Jayna Patel 1
Date of Publication :14th January 2021
Abstract: Operations management in pharmaceutical industry play a significant role in maintaining the supply chain. Shortage of drugs have profound impact on the death of the society, and how well we can save lives, just merely by providing timely healthcare facilities and medicines. P3 system (Production, Planning & Procurement System- A novel inventory management tool) was developed to address specific needs of the pharmaceutical industry and allied industries, especially for products that can be classified as perishable and essential. Being perishable, over stocking can have financial implication, being essential products their shortage means loss of sale and patient moving to another brand. Over the years, with dynamic market environment, there was a need to revisit the P3 system. A refined approach is now envisioned in form of P3R system, which promises to have filled the gaps identified in the P3 system. This paper evaluates the performance of P3R system as compared to the P3 system, and experiences of the actual users with the new system. The statistical evaluation shows overwhelmingly positive results.
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