Multi-criteria spherical fuzzy regret based evaluation of healthcare equipment stocks

Abstract

The catastrophes due to widespread outbreaks create a long-standing distraction and have an accelerating transmission. The uncontrolled outbreaks cause not only health-related problems but also supply chain related problems. The outbreak caused by the coronavirus (COVID-19) shows how vulnerable the Healthcare systems and the supporting systems such as supply chains of the countries to such type of disasters. Keeping high levels of inventory, especially for healthcare products, can be beneficial to overcome such shortage problems. Nevertheless, keeping a high level of inventory can be costly, and the durability of the products creates a limit. The decision-makers have to carefully decide the inventory levels by considering many factors such as the criticality of the product and the easiness of producing the product. In this study, we try to develop a decision model for defining the inventory levels in Healthcare systems by considering multiple scenarios such as outbreaks. A novel spherical regret based multi-criteria decision-making approach is developed and used for evaluating the total regret of not keeping stock of the healthcare equipment.