HIS LESSON 10 PART 3 Flashcards
happens Either upon receipt from the supplier or during the move from the source to another location
item indent and issues
Temporarily houses defective goods until a final decision is reached.
quarantine
Where vendor or consignor issues materials to the receiver or consignee
Consignment Stock Receipt, Consumption and Regularization
Defective or substandard quality goods, incorrect order delivery, and deteriorated purchased and sold items are usually common in the business. This led to _________
purchase returns
When purchase goods are returned the ___________ updates inventory levels to reflect the decrease in quantity
MMS (Materials Management System)
Returnable Gate Pass, what type of movement?
temporary movement
non-returnable gate pass
permanent movement
Invoice is due at predetermined intervals
Consignment Stock Receipt, Consumption and Regularization
Upon reaching their expiry, some goods can no longer be utilized
expired stock
3 basic concepts of purchasing?
- Purchase Request
- Purchase Order
- Receiving Delivery
is one of the biggest expenses for most medical institutions, not just in medical institutions, but for some other institutions that are non-medical
inventory
what are the strategies in improving inventory control in the healthcare facility
- ENSURING SHIPPING ACCURACY
- ALIGNING WITH SALE PROJECTIONS
- COMPLYING WITH REGULATIONS
- ESTABLISHING BUYING CYCLES
plays an important part in refining the quality of healthcare services since lives of people are on the line and the medical costs are increasing, especially, when the patient stays there for longer periods of time.
inventory control
Checking shipments for accuracy means ensuring that the received items are the ones ordered and the supplies are free from possible damages during transit.
ENSURING SHIPMENT ACCURACY
The health institution should be responsive to the current trends and needs of the highly regulated health care industry
COMPLYING WITH REGULATIONS
Buying cycles should be determined and understood by inventory personnel based on the previous cycles.
ESTABLISHING BUYING CYCLES
a process where coming up with an inventory tracking report in comparison with actual sales
ALIGNING WITH SALES PROJECTIONS
The said cycles will then determine the trends and adjustments that can be made accordingly.
establishing buying cycles
monitor health institutions and determine the success or failure of companies to serve the best
interest of the patients.
regulations
plays an important part in refining the quality of healthcare services since lives of people are on the line and the medical costs are increasing, especially, when the patient stays there for longer periods of time.
inventory control
This is usually done during inbound inspection upon receipt
of the items or goods
Moved Rejected End Item to Quarantine
When parcels are delivered partially without proper
notification from the supplier the receiving personal should advice the purchasing department for approval and further instruction.
partial deliveries
Goods can be easily tracked or trace when they are
managed by serial numbers or batch numbers.
tracking of goods
The person who receives the delivery should inspect the
delivered items before signing the receiving document that will be given to him/her and the packing list.
signing for deliveries
The receiving department should refuse any shipment if the package appears to be damaged or if there is any item that does not have a corresponding purchase order
refusing delivery
The person receiving the items should inspect these said items received to ensure that the following minimum conditions are met.
inspecting a shipment
This should be typically noted in the packing list or the receiving document.
partial deliveries
Through that aging of products can also be monitored based
on how long they’ve been in the warehouse already.
tracking of goods
The health institution should be responsive to the current trends and needs of the highly regulated health care industry.
complying with regulations
Buying cycles should be determined and understood by inventory personnel based on the previous cycles.
establishing buying cycles
Checking shipments for accuracy means ensuring that the received items are the ones ordered and the supplies are free from possible damages during transit.
ensuring shipment accuracy
t’s necessary to prevent wastage, identify trends, and ensure that there is no excess inventory.
coming up with an inventory tracking
Coming up with an inventory tracking report in comparison with actual sales. what strategy is this?
ALIGNING WITH SALES PROJECTIONS
brings an advantage in inventory control.
MMIS
It is where the users see all the items by which they can select in order to account or track the supplies, whether there is a shortage or excess.
Item availability
is the minimum quantity of an item that a company has in stock—meaning, it is the inventory level basis at which a company or health institution would place a new order.
reorder level
A basic reordering method implemented in many ERPs (Enterprise Resource Planning) and other inventory management software is Min/Max inventory ordering method.
minimum and maximum inventory opening
is representative of a new targeted stock level that follows the reorder.
max value
is representative of a stock level that prompts reorder.
min value
ERP meaning?
enterprise resource planning
EOQ meaning?
economic order quantity
