Optimization of inventory distribution in clinical trial supply chain

Drug development and clinical trials are key factors in the pharmaceutical industry. An insight into the stages of drug development will be discussed in this research showing how each phase is conducted and the purpose for each phase. Thereafter, an in-depth analysis of the clinical trial supply cha...

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Main Author: Ng, Jasper Kang Tai
Other Authors: Wu Kan
Format: Final Year Project
Language:English
Published: 2016
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Online Access:http://hdl.handle.net/10356/68298
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-682982023-03-04T18:24:10Z Optimization of inventory distribution in clinical trial supply chain Ng, Jasper Kang Tai Wu Kan School of Mechanical and Aerospace Engineering DRNTU::Engineering Drug development and clinical trials are key factors in the pharmaceutical industry. An insight into the stages of drug development will be discussed in this research showing how each phase is conducted and the purpose for each phase. Thereafter, an in-depth analysis of the clinical trial supply chain will be presented covering issues such as possible problems faced and possible solutions for example risk pooling and the different replenishment methods. A study on the Interactive Voice Response Systems, IVRS, was also conducted to understand the operations of IVRS. After introducing IVRS, the research will present a possible way to improvise the IVRS for the clinical trial. Due to the numerous uncertainties and decision making required in the clinical trial, a 2 stage stochastic programming was formed to minimise the operational cost. However, to acquire an optimal solution for this optimisation problem, the computation would need to look into all the possible scenarios that could occur in the whole clinical trial. While this will give the optimal solution, it will be at the expense of long computation time. In a clinical trial, fast decision making is required and hence an improvement is required. In this research, an improvement in the form of progressive hedging was experimented where each stage scenarios are solved in parallel along with the use of penalty parameters. A simulation experiment based on a sample case was also created and conducted to solve the 2 stage stochastic model and progressive hedging designed to optimise the clinical trial. Further experiments were also subsequently carried out to explore the impact of some of the parameters such as penalty factor and termination criteria in an attempt to improve the progressive hedging’s quality and efficiency to develop solution for assisting decision making in the clinical trial. In conclusion, this report showcased the capability of progressive hedging and the various way to improve the clinical trial through IVRS, risk pooling and cutting inventory, etc. Bachelor of Engineering (Mechanical Engineering) 2016-05-25T05:26:47Z 2016-05-25T05:26:47Z 2016 Final Year Project (FYP) http://hdl.handle.net/10356/68298 en Nanyang Technological University 47 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Engineering
spellingShingle DRNTU::Engineering
Ng, Jasper Kang Tai
Optimization of inventory distribution in clinical trial supply chain
description Drug development and clinical trials are key factors in the pharmaceutical industry. An insight into the stages of drug development will be discussed in this research showing how each phase is conducted and the purpose for each phase. Thereafter, an in-depth analysis of the clinical trial supply chain will be presented covering issues such as possible problems faced and possible solutions for example risk pooling and the different replenishment methods. A study on the Interactive Voice Response Systems, IVRS, was also conducted to understand the operations of IVRS. After introducing IVRS, the research will present a possible way to improvise the IVRS for the clinical trial. Due to the numerous uncertainties and decision making required in the clinical trial, a 2 stage stochastic programming was formed to minimise the operational cost. However, to acquire an optimal solution for this optimisation problem, the computation would need to look into all the possible scenarios that could occur in the whole clinical trial. While this will give the optimal solution, it will be at the expense of long computation time. In a clinical trial, fast decision making is required and hence an improvement is required. In this research, an improvement in the form of progressive hedging was experimented where each stage scenarios are solved in parallel along with the use of penalty parameters. A simulation experiment based on a sample case was also created and conducted to solve the 2 stage stochastic model and progressive hedging designed to optimise the clinical trial. Further experiments were also subsequently carried out to explore the impact of some of the parameters such as penalty factor and termination criteria in an attempt to improve the progressive hedging’s quality and efficiency to develop solution for assisting decision making in the clinical trial. In conclusion, this report showcased the capability of progressive hedging and the various way to improve the clinical trial through IVRS, risk pooling and cutting inventory, etc.
author2 Wu Kan
author_facet Wu Kan
Ng, Jasper Kang Tai
format Final Year Project
author Ng, Jasper Kang Tai
author_sort Ng, Jasper Kang Tai
title Optimization of inventory distribution in clinical trial supply chain
title_short Optimization of inventory distribution in clinical trial supply chain
title_full Optimization of inventory distribution in clinical trial supply chain
title_fullStr Optimization of inventory distribution in clinical trial supply chain
title_full_unstemmed Optimization of inventory distribution in clinical trial supply chain
title_sort optimization of inventory distribution in clinical trial supply chain
publishDate 2016
url http://hdl.handle.net/10356/68298
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