M10: LAB MANAGEMENT SYSTEM

Question 1

• It is beneficial for the hospital as it helps in the monitoring of the current situation of their stocks or the materials being used inside the hospitals
• Can be used to manage functions like
purchasing, accounting, inventory management, and patient supply charges

Answer 1

Material Management System

Question 2

The one who transacts the orders of each unit in the hospital

Answer 2

Purchasing

Question 3

The one who settles for the payment of the
ordered materials or stocks

Answer 3

Accounting

Question 4

• It is done by a specific unit/department
• Each hospital department has their own inventory

Answer 4

Inventory Management

Question 5

• Handled by the billing department and the nurses
• Nurses are the ones who charge the supplies, especially Central Supply Room (CSR) items, used by the patients
• Billing is responsible for tallying the overall bill of the patient

Answer 5

Patient Supply Charges

Question 6

• First step in the purchasing process
• Document which is made by a user to notify the purchasing department regarding needed items and services
• This is done by the chief or the head of a unit which will then be received by the purchasing officer in the purchasing department

Answer 6

Purchase Request

Question 7

• The purchasing officer will then input the
purchase request into the purchasing department’s system and print it. The printed
document is then called the purchase order
(official order)

Answer 7

Purchase Order

Question 8

• The purchase order will then be forwarded to the supplier, which would then deliver the materials

Answer 8

Receipt and Delivery

Question 9

________ is one of the most significant
expenses for most medical institutions

Answer 9

Inventory

Question 10

Accurate checking of shipments is an important activity in tracking medical inventory

Answer 10

Making Sure Shippers Are Accurate

Question 11

• [] in the medical field are highly vulnerable to inaccuracy
o You can’t predict the exact [] for a company
o Upon the establishment of the company,
it would take years (3-5) to determine the
[] of the company

Answer 11

Alignment with sales projection

Question 12

• A medical institution that is recurringly unable to cater to the needs of its patients can easily be put under the microscope
• The company must comply with the regulations of the DOH and FDA

Answer 12

Compliance with Regulations

Question 13

• Having good inventory control propels
companies to gauge the trends in demands
based on previous transactions
o [] is the usual quantity ordered
for each item
o It can only be established once the
company is stable (open for years).
o It can be determined through inventory
reports

Answer 13

Establish Buying Cycles

Question 14

• There are instances where items are damaged upon receiving from the supplier or during the move from the source to another location.
• Some suppliers allow the return of the goods with a guarantee of replacement without any additional payments.

Answer 14

Item indents and issues

Question 15

Minimum quantity of an item that a company has in stock

Answer 15

Re order level

Question 16

Representative of a stock level that prompts a re-order

Answer 16

Min Value

Question 17

Representative of a new targeted stock level that follows the re-order

Answer 17

Max Value

Question 18

The main difference of the Min and Max Value

Answer 18

Economic order quantity / re order quantity

Question 19

• Lead to getting information from a supplier for the requirement at hand
o Asking the suppliers some questions to
gain information on the product that you
want to avail

Answer 19

Enquiries

Question 20

• Consist of various pieces of vital information of a requirement towards a sale/ purchase
• It is not yet the official receipt

Answer 20

Quotations

Question 21

SEVERAL QUALITIES OF A PREFERRED VENDOR THAT A COMPANY LOOKS FOR

Answer 21

1. ON-TIME PERFORMANCE
   - Whether the delivery is immediate or not
2. REASONABLE COSTS
3. HIGH QUALITY OF PRODUCTS AND SERVICES
   - It’s the quality that you pay for
4. FULLY LICENSE, BONDED, AND INSURED
   - The company must be registered to all the
   government permits
5. GOOD BUSINESS PRACTICES

Question 22

• A stated intention, either spoken or written, to engage in a commercial transaction for specific products or services

Answer 22

Orders

Question 23

From a buyer’s point of view, expresses the
intention to buy

Answer 23

Purchase order

Question 24

• From a seller’s point of view, expresses the
intention to sell

Answer 24

Sales order

Question 25

• A commercial document indicating the products, quantities, and agreed prices for products the seller has provided
• The official receipt of purchase is the invoice
- not the quotation

Answer 25

Invoice

Question 26

• Statutory requirements to enable a smooth
transition of the processes involved in completing a sale/purchase

Answer 26

Documents

Question 27

• Items are being sold in the order that they are purchased
• It is a common technique when doing the
inventory
• It is usually done for perishable goods

Answer 27

First in First out

Question 28

• The last one to enter the system are sold first
• It is usually done for non-perishable goods

Answer 28

Last in First out

Question 29

• It is usually used in the pharmacy department

Answer 29

First Expired First Out

Question 30

• A process where a business physically counts its entire inventory
• Inventory is done to check whether there are either loss or gain in the quantity of the items

Answer 30

Inventory Count

Question 31

• Labor and automation to quickly count inventory and minimize shutdown time

Answer 31

Inventory services provide

Question 32

• Software can speed by the physical inventory process

Answer 32

Inventory control system

Question 33

• Tracks the receipt and use of inventory and
calculates the quantity on hand

Answer 33

Perpetual inventory system

Question 34

• An alternative to a physical inventory, may be less disruptive

Answer 34

Cycle counting