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
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
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
hospital formulary
list of selected products used in the hospital chosen by the pharmacy and therapeutics commitee
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
a program that assists in the collection and safe disposal of prescription drugs that have been returned by patients to a retail pharmacy
material safety data sheet
workplace hazardous materials information system