inventory management Pharm Tech

What is inventory

A listing of good or items a business would need for normal operation

How do pharmacy develop an inventory of medications

Based on what they expect they need

How are rarely used medications handled

They aren’t kept in inventory but order PRN

What does it mean when medication needs are urgent

They must be maintained in good control os stock or inventory

What should always be on hand and usable in pharmacy

Drugs that are suspected to be needed

Why is inventory management important for pharmacy technicians

It is an integral part of their job responsibilities

What is a closed formulary

A limited list of drugs

What is a open formulary

A system that allows pharmacy to use non formulary medications

What is perpetual inventory

Maintains continuous record of inventory

Shows current amount of stock at all times

What is the turnover rate

The rate in which inventory is used (expressed in amount of days)

What is the general rule for pharmacy 80/20 rule

20% of stock must account for 80% of prescriptions

What does a ability refer to in pharmacy

Monitoring the market availability of medications

Why might a drug become unavailable

Manufacturing problems/ absence of raw materials

What happens when the market availability for a drug changes

Substitutes (generic) drugs become more popular

What are reorder points

Levels used to maintain adequate inventory for medication needs

what must reorder points consider

Maximum and minimum inventory levels of each drug

What happens when the minimum reorder point for a medication is reached?

Computer systems often generate an automatic purchase order for the product.

What is an Automated Dispensing System (ADS)

A device that tracks medication at the point of use and confirms dispensing based on orders communicated from a centralized computer system.

What can data entry errors cause?

Serious issues such as incorrect orders and stock availability problems.

Why must automated reports still be manually checked?

To ensure accuracy.

Can pharmacies use their own computer systems?

Yes, or they may use one provided by a parent company.

How does scanning work for inventory processes?

: A barcode can be scanned or typed into the system.

What is the Point of Sale (POS) system?

Deducts items from inventory as they are sold/dispensed.

How is the inventory system protected?

By password verification to prevent abuse.

What do computers need in order to function properly for inventory?

Accurate information.

What do computer systems do for pharmacy inventory?

Automatically adjust inventory and generate orders based on set inventory levels.

What happens when the minimum reorder point for a medication is reached?

Computer systems often generate an automatic purchase order for the product.

What must reorder points consider?

Maximum and minimum inventory levels for each drug.