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Inventory Management

Inventory Management

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Inventory Management

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  1. Inventory Management Chapter 13

  2. Inventory Management • An inventory is a listing of goods or items that a business will use in its normal operation. • The goal of inventory management is to have the goods available when needed • Inventory management is part of the duties of a pharmacy tech

  3. The Inventory Environment • The Formulary – hospitals, HMOs, & insurers all keep a list of medications that are approved for their system. • Open Formulary is one that allows the purchase of any medication that is prescribed • Closed Formulary is one that has an approved list of medications. This is done to control costs.

  4. The Inventory Environment • The Government – DEA plays a part in the regulation of medications distributed and require special forms to be completed when ordering Schedule II drugs. • The Pharmacy -- Individual pharmacies develop a system of reordering medications and making contracts with wholesalers for bulk purchases.

  5. Inventory Management • Wholesalers -- ¾ of all drugs are purchased through a wholesale company. The manufacturer sells their drugs to the wholesaler and the wholesaler turns around and sells them to individual pharmacies. • Manufacturers -- Some medications are not available from a wholesaler due to cost or storage requirements, so the pharmacy will purchase directly from the manufacturer.

  6. Inventory Systems • The pharmacy must have an inventory system that will track what is sold and when a reorder is needed to maintain adequate supply. • Computers and bar coding have made reordering easier.

  7. Computers & Inventory • Automated Dispensing Systems • Computerized inventory systems automatically adjust inventory and generate orders based on maintaining inventory levels • Pyxis Supply Station is used by MSRMC

  8. Stocking and Storing • Medications are received from the supplier in bulk “stock bottles.” • Unit Dose package – dispensing an individual dose to patients in hospitals and other settings.

  9. Stocking and Storing • Drugs must be stored according to manufacturer’s specifications. Room temperature or refrigerated. • Drugs are stored alpha-generically – stored alphabetically by generic name. • Oldest to newest as medications expire