Published Paper Details:

This study explores the application of the Economic Order Quantity (EOQ) technique in managing pharmaceutical inventory at Pfizer Inc. Efficient inventory management is crucial in the pharmaceutical industry due to the high costs associated with overstocking, stock outs, and the necessity for timely medication availability. Inventory management is vital in the pharmaceutical industry due to the critical nature of products and strict regulatory requirements. In this research, researcher analyzed secondary data of Pfizer Inc. This study demonstrates how The Economic Order Quantity (EOQ) model is a fundamental tool used to minimize the total cost of inventory by determining the optimal order quantity. EOQ can optimize inventory levels, reduce costs, and improve service levels. This case study explores how Pfizer Inc., a global leader in pharmaceuticals, implements the EOQ model to manage its inventory effectively. The findings highlight significant improvements in inventory turnover rates, service levels, and cost efficiency following EOQ implementation at Pfizer.