Version  1.0
 File Size  598 kb
 File Count  1
 Create Date  July 13, 2022
 Update Date  July 13, 2022
 Telegram  Join Now

You have to wait 15 seconds.

Summary of Inventory Control

The objective of a listing system is to form inventory decisions that minimize the entire cost of inventory. this is often to not be confused with minimizing inventory. it's often dearer in an exceedingly pharmacy to run out of an item than to easily keep more units available. for instance, in a very retail pharmacy, if a customer is unable to obtain their medication, they will go some place else and also the pharmacy may lose future purchases. in a very hospital pharmacy, if you run out of an item, you may be required to obtain it by a costlier method (over-night delivery, hot-shot, ect.). Most pharmacy inventory decisions involve replenishment – what proportion to order and when to order. during this course we'll study several models for minimizing the overall cost of inventory, including the popular method of Economic Order Quantity (EOQ). This particular method attempts to balance the opportunity cost inventory with the price of running out. 

As we glance at each of the internal control models, it's important to stay in mind the various sorts of cost related to pharmacy inventory:-
  • carrying costs
  • shortage costs, and
  • replenishment costs.

Each of those costs is discussed later in the course. Many of the models we are going to discuss confirm assumptions that don't hold within the operations of a hospital pharmacy. for example, the “costs” related to running out of a drug product utilized in critical care might involve increased morbidity and mortality, which isn't a suitable situation. Given that, the fundamental concepts of those inventory control models is applied to hospital pharmacies when appropriate.


Inventory control is that the process of managing inventory so as to fulfill customer demand at rock bottom possible cost and with a minimum of investment. Unlike many factors in pharmacy, inventory is controllable. The pharmacy decides what quantity inventory investment to create, when to reorder, and in what quantities. A successfully implemented internal control program takes under consideration such things as purchasing goods commensurate with demand, seasonal variation, changing usage patterns, and monitoring for pilferage. The challenge of productive inventory management is to support an upward trend in sales while keeping the investment at the lowest level per adequate customer service. 

There are several objectives of inventory control :-
  1. Minimization of the inventory investment.
  2. Determination of the proper level of customer service.
  3. Balance of supply and demand.
  4. Minimization of procurement costs and carrying costs.
  5. Maintenance of an up-to-date internal control system.

Electrical hazards within the workplace :-
  • To study process failure, Sentinel events and near misses and take appropriate actions.
  • To coordinate for development, Implementation and monitoring of safety plans, policies and procedures.
  • To analyze, interpret and disseminate data arising out of Audit/Inspection rounds.
  • To monitor patient safety devices management, Maintenance installation, updation, utilization. Egs-> grab bars, bed rails, sign postings, safety belts in stretchers, wheel chairs, alarms (visual & auditory), warning signs, call bells, fire safety devices etc)
  • To ensure staff are educated on safety through training programs & get feedback.
  • To submit recommendations to the Medical Director if any.