MOD 10 Flashcards
a continual process of checking stock levels, rotating stock to ensure freshness, or ordering supplies in sufficient quantities to meet current needs and minimize carrying inventory
Inventory management
Inventory check levels:
Perpetual system
Periodic system
Random checks
inventory check level; keep account of the inventory each time a product is used
Perpetual system
inventory check level; stock level is counted once a week or in a specified time
Periodic system
inventory check level; used to document the value of supplies at a specific time
Random checks
Stock replenishment techniques:
Minimum-maximum
Just-in-time
SRT; establishing a set point (minimum) at which inventory is to be recorded and a “reorder to” maximum level to be maintained
Minimum-maximum
SRT; commitment is made by the supplier to guarantee delivery of an item at the exact moment of need
Just-in-time
Financial controls of inventory q’s”
- what is the most economic quantity to order, from the pov of financial, storage, and delivery issues?
- How can the institution take advantage of bulk purchase discounts?
- what is the best time to place orders to both limit the amount of financial commitment and s=ensure adequate supplies?
Financial controls of inventory calculations:
Economic ordering quantity (EOQ)
Ecomonic ordering point (EOP)
Optimal reorder time (ROT)
financial control of inventory; how much to order at one time?
EOQ
financal control of inventory; aka “reorder point” provides the safety level for reordering inventory
EOP
financial control of inventory; helps us to establish the best time to order to take advantage of the EOQ and EOP
ROT
related concepts in calculating inventory; “workload of laboratory”
Annual usage
related concepts in calculating inventory; can be obtained by dividing the amount of supplies ordered ina ayear by 365 days
Avergae daily usage
related concepts in calculating inventory; dividing the expenses of purchasing section by number of purchase or orders issued
Cost of ordering
related concepts in calculating inventory; expense of maintaining a stockroom for storing material not needed immediately
Annual holding cost
related concepts in calculating inventory; straight forward calculation once the decision has been made as to best price available
Cost per unit
related concepts in calculating inventory; amount of time or advance notice, needed bet placing and order and its arrival
Lead time
EOQ formula:
1: 2 x (annual usage x cost of ordering)
2: ans / annual holding cost per unit
3: get the square root of ans
EOP formula:
1: annual usage / 365 days
2: ans x lead time in days
ROT formula:
1: EOQ / annual usage
2: ans x 365 days
traditional procedure of purchasing new equipment:
1- developing a budget
2- Accepting request
3- Voting and prioritizing the request
4- purchasing the highest priority items allowed in the budget
committees helping decide for purchase of equipment:
- Technical Evaluation Committee
- Laboratory Advisory Board
committees helping decide for purchase of equipment; conducts primary eval of equipment andd techs
TEC- technical eval committee
committees helping decide for purchase of equipment; dinal review committee, which takes the recommendations of the TEC for a final vote
LAB- laboratory advisory board
Possible appointees to clinical laborator equipment committees:
PICTURE SA PHONE
acquisition of previously owned equipment:
- remanufacturing
- refurbished or reconditiones
- repossessed
acquisition of previously owned equipment; the process of the orig equipment manufacturer completely overhauling the equipment and returning it to service as if it were new
Remanufacturing
acquisition of previously owned equipment; cleaned and repaired equipment in acceptable working order
Refurbished or reconditioned
Precautions for buying pre owned equipments:
- vendor background check
- understand the deal
- operational status
vendor background check:
- no. of yrs business
- no. yrs present loc
- educ bg
- references from current and past clients
- license
understand the deal:
- price
- terms of purchase
- service warranty availabilty
operational status:
- fully operational
- fully op but with preventive maintenancce
- completely rebuilt
- confirm reliability with last equip user
Categories of scheduled maintenance services:
preventive maintenance
functional testing, performance verification and calibration
Safety inspection
Categories of scheduled maintenance services ; periodic procedures to minimize the risk of failure and to ensure continued proper operation
Preventive maintenance
Categories of scheduled maintenance services; to verify that the equipment is fully operational
Functional testing, perf veri and calib
Categories of scheduled maintenance services; visual inspection for mechanical safety
Safety inspection
is a systematic process of overseeing and controlling the acquisition and utilization of supplies to ensure the availabilty of cost-effectiveness
Material management
goals of material management:
1-supplies arrive timely manner
2-spoilage is reduced to minimum
3-back orders and delays are avoided
4-storage space is used to best advantage
5-mosty econ advantageous price is obtained
6-financial resources are not tied up in inventory
are products that meet specific time and price criteria
supplies
2 sections of material management:
Purchasing
Stockroom
a section of material management that is responsible for ordering the supplies and processing the invoice from vendors or suppliers
Purchasing
a section of material management that maintains the security and inventory levelss; it is also responsible in issuing supplies throuhgout the different depts of hospi
Stockroom
Supply ordering process:
Purchasing request | Purchase order | Receiving delivery
represents a commitment by the org to purchase a product or service
Purchase order
a catalog of products held in stock by material management
Travelling requisition
method of purchase used for products that have a predictbale usage level or short shelf lives and are frequently ordered in adv
Standing orders
