Seminar Abstract:
Hospital pharmacy managers make decisions for thousands of different drugs. This motivates inventory policies that are (a) quick to solve and (b) easy to implement. Further, these inventory policies must capture the two key characteristics in a hospital pharmacy inventory system: perishability and supply chain disruptions. This talk will focus on closed-form solutions for a perishable lost-sales (R,S) periodic review inventory system with supply chain disruptions. Using a drug case study, the talk will also provide insights on the (i) impact of ignoring perishability and supply chain disruptions, (ii) importance of accounting for the length and time between supply chain disruptions, and (iii) influence of stochastic demand.

Presenter Bio:
Lauren Czerniak is an Industrial and Operations Engineering PhD candidate at the University of Michigan where she is being co-advised by Mark S. Daskin and Mariel S. Lavieri. Her research focuses on developing and applying stochastic models to address current challenges in healthcare with applications in pharmaceutical drugs, glaucoma, and concussion management. She is a Rackham Merit Fellow and a recipient of the National Science Foundation Graduate Research Fellowship.