Inventory Flashcards
what is the goal of the pharmacy?
to keep inventory at a minimum
why is maintaining a vet pharmacy helpful?
prevent drug shortages at the clinic, efficient use of time, decrease cost, decrease stress
hidden costs of a pharmacy
storage, expiration, spoilage, bookkeeping, breakage, appearance that product is undesirable because on the shelf for a long time
turnover rate
number of times inventory is depleted and replenished each year
how can you calculate turnover rate?
yearly inventory expense / average cost of inventory on hand
higher number is better
bulk ordering
special deals offered by vendors may save money
good for decreasing ordering frequency and minimizing handling fees
but…
difficult to predict use of some products, have to use before drug expires, and some items have a minimum order amount
direct marketing
drug is purchased directly from manufacturer of drug
pros: decreased handling fees
cons: larger time commitment- each product ordered from different company, larger inventories- must purchase large quantities to receive best price, need more storage space- to account for larger orders
distributors/wholesalers
agencies that purchase drugs from the manufacturing company and resell to vets
pros: many items can be purchased from 1 source, decreased costs, faster purchasing process
cons: may require minimum size or weight of purchase order, handling fees may be higher
3rd party
companies who offer drugs directly to client
other vet practices (for buying meds)
used in time of crisis
buying groups
decreased drug cost by bulk purchasing
pharmacies
good for not commonly used drugs and human-approved drugs
different methods of record keeping
manual, computerized
types of inventory systems
reorder log, purchase order records, individual inventory records, inventory master list, vendor files
reorder point
level to which an item can be depleted before reordering
dependent on if drug is critical to have and how easily it can be obtained
reorder quantity
amount that should be ordered, typically a 1 month supply
can be altered, use reorder tags which are placed in front of a med that hits the reorder quantity
vendor files
packing slips, invoices, promotional flyers, price lists, company correspondence
free on board (FOB) destination shipping
describes products that have transportation costs paid by seller
free on board shipping point
transportation costs paid by buyer
what is kept in the inventory records?
drug usage, order status, price changes
each supply item has an individual card or computer file
inventory master list
tally of all drugs kept in stock
what records does the DEA require for controlled substances?
separate inventory and use records
purchase records for schedule II-IV drugs must be kept for at least 2 years
schedule II drugs logged separately
inventory follow-up done every 2 years
how often does a DEA registration need to be renewed?
every 3 years
safety data sheets (SDS)
required by OSHA
formerly MSDS
for hazardous substances
how should drugs be organized?
in alphabetical order, by drug classification, by dose category
tablets/capsules kept near counting area, liquids kept by sink, injectables kept by syringes/needles
what are some ways to minimize pharmaceutical waste
keep close inventory to reduce expiring, return expired drugs to manufacturer, use incinerating service, empty drugs into ziplock bag of cat litter then in a box to dispose of at a landfill, drug return programs
how are controlled substances regulated?
US Drug Enforcement Administration (DEA)
Controlled Substances Act (CSA), DEA regulations of title 21, Code of Federal Regulations (CFR) parts 1300-1316
DEA diversion website
applications and online forms
complete list of controlled substances and schedule of each
list of drugs/chemicals of concern
inventory records must contain…
when inventory was taken, names of controlled substances, number of dosage units in each container, disposition of controlled substances, name/address/DEA registration number of registrant, signature of person taking inventory
disposal of controlled substances
transfer to reverse distributors or destroy the drugs in the presence of a DEA agent or authorized person
