PLAIO CoPlanner : constraint-proof production plan

Abstract

An innovative design and implementation for a SaaS (Software as a Service) with the goal of inventory optimization for virtual pharmaceutical companies is presented. The proposed solution was to develop a web service that hosts optimization models based on algorithms such as metaheuristic algorithms and mixed integer programming with the primary objective of demonstrating an optimized inventory purchasing plan to the end user. The simulated annealing model always returns an approximation of the optimal solution in linear time while the mixed integer programming model yields the optimal solution, assuming a feasible solution exists, in exponential time. The paper mentions the benefits of inventory optimization, improved cost efficiency and enhanced performance. Keywords: Inventory optimization, Supply chain, Web-service, Mathematical optimization, Planning system, Pharmaceutics