Fuzzy Inventory System: A Review on Pharmaceutical and Cosmetic Products

Abstract

Pharmaceutical and cosmetic products maintain their freshness due to the maximum lifetime policies. After some time deterioration occurs in products and products loss their freshness. To maintain the freshness of products there are so many factors like used good raw material, better storage facilities, package facilities, transportation facilities and many more. Thus there is various part of inventory management which effect the product life time and customers satisfaction and also a roadmap between demand and supply between the system. This paper suggested a novel survey of fuzzy inventory model for perishable products. The main of this paper is motivate and encourage to the researchers for uncertainty environment to focus on the recent trends in the fuzzy based inventory model for perishable products. The pharma-retailer obtains the optimal order value and the optimal profit function which is based on current inventory level and the customers demand rate. Moreover, a comprehensive literature survey of a fuzzy inventory model for pharmaceutical and cosmetic products is presented to show a new research study for further research work.