Inventory Management in a Retail Pharmaceutical Industry During COVID-19 Pandemic

This article’s goal is to solve a COVID-19 pandemic-related multi-objective fuzzy inventory problem for a retail pharmacy. The fuzzy multi-objective inventory model is solved using nonlinear interval number programming. With decision variables including the number of replenishment cycles, service level, and time points at which shortages and replenishment occur, the model’s goal is to minimize total cost and shortage cost at the same time. This study is the first to give proper inventory management of two crucial commodities during the COVID-19 pandemic in order to prevent shortages using a real-world example from a retail pharmacy store.