Exploring managerial insights through multi criteria decision making techniques in pharmacy inventory classification problem

Abstract

The current research addresses the inventory classification problem of community pharmacies, which have a dual role as both a vital component of the pharmaceutical supply chain and a typical retail store. Despite the existing literature indicating that pharmacists may lack knowledge on inventory management, it seems that the MCIC literature is weak in explaining how pharmacists can benefit from MCDA techniques in all aspects. To bridge this gap, the study aims to demonstrate that pharmacists can utilize MCDA techniques to gain deeper insights beyond mere classification in the context of inventory management. Real-world data from a community pharmacy in Turkey was classified using the EDAS method. Sensitivity analysis was performed for MCDA inputs, about which pharmacists may lack information. Scenario findings based on criterion weights and threshold values offer important managerial implications for pharmacists. This study provides a critical contribution to the literature on inventory management in community pharmacies by highlighting the potential of MCDA techniques to support decision-making beyond mere classification. The sensitivity analysis also sheds light on areas where pharmacists may lack knowledge and suggests ways to address these gaps. Overall, the study underscores the need for pharmacists to have a deeper understanding of inventory management and highlights the potential benefits of MCDA techniques in addressing this challenge.