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Purchasing and Inventory Management

This document outlines a module on purchasing and inventory management for pharmacy students. The module aims to demonstrate the pharmacist's roles in financial management and the process of budgeting, purchasing, and inventory control. It discusses the pharmacist's responsibilities in inventory management, functions of inventory management like operational and financial, objectives of inventory policies, factors to consider in drug requisitioning, and objectives and requirements of effective inventory management like availability, cost reduction, and minimizing expired drugs.

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vaniya
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376 views2 pages

Purchasing and Inventory Management

This document outlines a module on purchasing and inventory management for pharmacy students. The module aims to demonstrate the pharmacist's roles in financial management and the process of budgeting, purchasing, and inventory control. It discusses the pharmacist's responsibilities in inventory management, functions of inventory management like operational and financial, objectives of inventory policies, factors to consider in drug requisitioning, and objectives and requirements of effective inventory management like availability, cost reduction, and minimizing expired drugs.

Uploaded by

vaniya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

PHOS TRANS

MODULE 6: PURCHASING AND INVENTORY MANAGEMENT

UNIT OUTCOMES:
At the end of this unit, the students are expected to:
● Demonstrate the roles of pharmacist in financial management
● Demonstrate the process of pharmacy budgeting and the steps in product
purchasing and inventory control.

UNIT OUTLINE:
● Pharmacist’s responsibilities in inventory management
● Inventory management
● Functions of inventory management
● Objectives and requirements of inventory management
● Drug requisitioning

REQUIRED READINGS
● American Society of Health-System Pharmacists (ASHP) Guidelines
● Department of Health, Hospital Pharmacy Management Manual (latest
ed.)Manila: Department of Health
(https://drive.google.com/file/d/1lhXx3USYbFlc_Qm5qprRAQOBVgjbKkf3/view)

➢ RESPONSIBILITIES OF PHARMACIST IN INVENTORY MANAGEMENT


1. Checking the drugs to be stocked in the hospital.
2. Responsible and accountable for all drugs purchased.
3. Developing an effective system in the control of purchase, inventory and
adequate maintenance of raw materials used for compounding and
pharmaceuticals.

➢ BASIC CHARACTERISTICS FOR THE BUDGET TO BE USEFUL AND


EFFECTIVE:
1. Oriented toward achieving goals and objectives.
2. Realistic
3. Implemented by the one who prepared it.
4. Contain certain internal mechanisms for review and analysis
5. Use consistent measurement tools and reporting periods

➢ THE BUDGET FOR A PHARMACY SERVICE INCLUDES:


1. Salaries of the pharmacist and other personnel
2. Office supplies
3. Store supplies
4. Equipment necessary in running a pharmacy

➢ INVENTORY MANAGEMENT - sum total of those activities for acquisition,


storage, sale, disposal or use of materials.
○ Functions of inventory management:
1. Operational
2. Financial

➢ THE GENERAL OBJECTIVE OF ALL INVENTORY POLICIES:


...must be to keep investment at the lowest level with the needs of the
hospital

➢ IN REQUISITIONING THE DRUG NEEDS, A PHARMACIST MUST THINK IN


TERMS OF:
○ The information on the balance of the revolving fund
○ The conditions such as seasonal, etc.
○ Transportation and delivery problems
○ Availability of alternate drugs
○ The ratio of supply and demand

➢ THE PROBLEM OF OVERSTOCKING AND UNDERSTOCKING OF DRUGS


CAN BE ATTRIBUTED TO THE FOLLOWING:
1. Ineffective purchasing administration without any control system.
2. Lack of technical requirements attached to the documents.
3. Poor storage facilities.
4. Problem of availability.
5. Transportation and delivery problems, etc.
6. Geographical and climatic conditions time lag between requisition and
purchase.

➢ OBJECTIVES AND REQUIREMENTS OF INVENTORY MANAGEMENT


1. To have the stock available when and where needed.
2. To reduce undue strain on the government’s scarce resources.
3. To maintain utilization of available storage facilities.
4. To provide area for cost reduction on drugs without compounding quality.
5. To ensure minimal waste/expired drugs through proper storage
management.

PHOS TRANS MODULE 6: PURCHASING AND INVENTORY MANAGEMENT UNIT OUTCOMES: At the end of this unit, the students are expected to
1. Salaries of the pharmacist and other personnel 2. Office supplies 3. Store supplies 4. Equipment necessary in running a ph

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