Modelling and analysis of inventory management systems in healthcare: A review and reflections

Inventory management in a healthcare system needs to be compatible with its operations and critical characteristics ensuring minimization of inventory-related cost as well as maximization of service level with a significant reduction in the price of treatment and wastage of resources. Over the years, numerous approaches and methodologies have been developed by the researchers and practitioners for modelling and analysis of varieties of inventory management systems in the healthcare sector considering these aspects. In this paper, the existing modelling approaches and solution methods concerning inventory systems in healthcare are classified and critically reviewed. An integrated research framework as applicable in the present context is presented as a direct consequence of the review of the literature with future research directions.