ICTM: L12 Flashcards
lesson 12
making sure that services
go successfully from one source to an end user—includes several areas
of the hospital
MATERIALS MANAGEMENT SYSTEM
A ________ could be used as a first step in the process of purchasing.
This is used internally to identify a need for an item.
purchase request
Johnston (2014) states that inventory is one of the biggest expenses for most medical institutions.
Inventory Control
Tracking medical inventory must involve checking shipments for accuracy.
Making Sure Shippers Are Accurate
In the field of medicine, sales projections can be wildly inaccurate.
Alignment With Sales Projections
The medical field is heavily regulated. A company that routinely fails to serve the best interests of
patients can quickly find itself being investigated,
Compliance With Regulations
Inventory control helps medical companies understand buying cycles
Establishing Buying Cycles
is used for maintenance of the attributes of an inventory item, such as product type,
item class, item type, etc.
“Item Tab”
the _________ form specifies inventory levels across all warehouses
“Item Availability”
there are instances where items are damaged either upon receiving from the
supplier or during the move from the source to another location
ITEM INDENTS AND ISSUES
_________ is the minimum quantity of an item that a
company has in stock, so when the stock reached the minimum quantity stated,
Re-order level
_________ are the start point of a sale or purchase process.
Enquiries
consist of various pieces of vital information of a requirement towards a sale /purchase.
Quotations
In business or commerce, an Order is a stated intention, either spoken or written, to engage in a commercial transaction
for specific products or services.
orders
An invoice or bill is a commercial document issued by a seller to the buyer, indicating the products, quantities, and
agreed prices for products or services the seller has provided the buyer.
Invoices
_______ is a document for requesting prices and delivery information from a vendor before the
purchase order.
purchase quotation
is a document which records a business transaction between
the buyer and the seller.
Purchase Orders
Whenever possible, the person receiving the product should sign the receiving documents provided
by the supplier or shipping company.
Signing for Deliveries
Whenever possible, departments should refuse to accept shipments if they are unable to confirm
that the order was placed by their department,
Refusing Delivery
During the receiving process, the Receiving Department takes physical possession and legal
ownership of the shipment.
Record Retention
Persons receiving shipments should, upon acknowledging receipt of an order,
Inspecting a Shipment
Departments should contact the appropriate Purchasing Agent whenever a purchase is received as a partial
delivery without acknowledgement or notification from the supplier.
Partial Deliveries
Goods can be easily tracked /traced when they are managed by Serial or Batch.
) Tracking of Goods
Upon reaching their expiration dates, some goods, such as food and medicine, can no longer be utilized
Expired Stock/Inventory
When undecided about how to handle defective goods, whether to be sold as scrap, reworked, returned, or used
as it is, a quarantine location or warehouse
Quarantine Stock/Inventory
Inventory items are sold in the order they are
purchased. This is the most common technique.
First In, First Out (FIFO)
– Last to enter the system are sold first. This is
common among non-perishable items like petroleum, minerals, and metals
Last In, First Out (LIFO) –
– Materials are sold based on date they
should be consumed, regardless of when it was purchased
First Expired, First Out (FEFO)
An inventory count is a process where a business physically counts its entire inventory
PERIODIC PHYSICAL STOCK TAKING AND
ADJUSTMENTS WITH TRACKING
