Inventory

Created by samanthastevens 

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29 terms

inventory management

the way stock is controlled to prevent shortages or overages

inventory turnover

the number of times specific items are replaced during a given time period

actual acquistion cost

the dollar amount that the pharmacy pays the manufacturer for the medication

mark up

the amount that is added to the AAC to arrive at a selling price

selling price

the price the pharmacy sells the medication or the price paid by the customer

dispensing fee

a fee charge with each Rx written

inventory carrying cost

damaged stock, dead stock, tax, interest on loans

purchase order

an order form used to purchase items that a pharmacy needs for resale

invoice

document from the seller to the buyer that indicates products, quantities, and prices

waybill or bill of landing

a shipping document from the carrier/courier

back ordered

items not included in the order but will be shipped as soon as they are available

short shipped

items missing from the order but not back ordered, items need to be ordered again

when recieving and unpacking stock, a tech will verify:

correct product and quantity, any damaged items

discreprencies need to be reported to the supplier within

1-2 days

refridgerated or frozen products must be

recieved and unpacked first to maintain the cold chain

FIFO

first in first out

failure to rotate stock could result in

medication error

8 requirements of maintaining a drug file:

din, manufacturer, brand name, generic name, strength, form, pack size, price

after recieving narcotic inventory the reciept must be:

sent to the wholesaler within 5 days signed and dated by the pharmacist

IN

RED

OUT

BLUE

hospital formulary

list of selected products used in the hospital chosen by the pharmacy and therapeutics commitee

tender

contract for the supply of a product or service

formularies are used to

improve quality of patient care and decrease the cost of drug therapy

perpetual inventory/point of sale

uses barcodes, most effective, most accurate

re-order points

min/max system

envirx

a program that assists in the collection and safe disposal of prescription drugs that have been returned by patients to a retail pharmacy

MSDS

material safety data sheet

WHMIS

workplace hazardous materials information system

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