Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

SPPE SUBS > VMGO > Flashcards

VMGO Flashcards

1
Q

What is inventory in a pharmacy?

A

A listing of the entire stock of pharmaceutical products on hand at any given time in a pharmacy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is the largest asset of a pharmacy?

A

Inventory.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What does inventory management focus on?

A

Procurement of stocks.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is procurement?

A

The action of obtaining, storing, controlling (inventory), distributing, and disposing of used and unused pharmaceutical products.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is inventory in a pharmacy?

A

A listing of the entire stock of pharmaceutical products on hand at any given time in a pharmacy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is the largest asset of a pharmacy?

A

Inventory.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What does inventory management focus on?

A

Procurement of stocks.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is procurement?

A

The action of obtaining, storing, controlling (inventory), distributing, and disposing of used and unused pharmaceutical products.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is the importance of inventory?

A

To provide an adequate stock of pharmaceutical products.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

How does inventory help in stock management?

A

To reduce unexpected stock outs and temporary shortages.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is a financial benefit of maintaining inventory?

A

To reduce carrying costs (total cost of holding inventory).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

How does inventory affect purchasing tasks?

A

To minimize time spent in purchasing tasks.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the importance of inventory?

A

To provide an adequate stock of pharmaceutical products.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

How does inventory help in stock management?

A

To reduce unexpected stock outs and temporary shortages.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is a financial benefit of maintaining inventory?

A

To reduce carrying costs (total cost of holding inventory).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

How does inventory affect purchasing tasks?

A

To minimize time spent in purchasing tasks.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

: Supply of goods and pharmaceutical on hand for sale to customers/patients.

A

Stock

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

: Placing drugs and other items onto shelves

A

Stocking

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

To avoid contamination/deterioration of drugs

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Restocking: Replenishing inventory levels asset by the pharmacy.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Stock: Supply of goods and pharmaceutical on hand for sale to customers/patients.

A
22
Q

: Placing drugs and other items onto shelves

A

Stocking

23
Q

To avoid contamination/deterioration of drugs

A

WHO

24
Q

: Replenishing inventory levels asset by the pharmacy.

A

Restocking

25
Q

What is a formulary in a hospital setting?

A

A formulary is a list of drugs approved for use and is the foundation of medication management in this setting.

26
Q

What is an open formulary?

A

An open formulary means any medication may be purchased by the hospital.

27
Q

What is a closed formulary?

A

A closed formulary means medications prescribed may not be purchased or covered.

28
Q

What is a closed-door pharmacy?

A

A closed-door pharmacy is a facility unavailable to the general public.

29
Q

What does a closed-door pharmacy provide?

A

It provides medications to patients and/or residents/employees in various settings.

Example: Institutional Pharmacy

30
Q

What is a retail pharmacy?

A

A retail pharmacy is open to the public and provides medications and other health-related items to the general public.

31
Q

• Part of the inventory that is replenished (restocked) as it sold
• Ex. prescriptions filled (keep an adequate supply at all times)

A

Base stock

32
Q

• Is held to protect against unexpected needs (“just in case”)
• Keep as little safety stock as possible

A

Safety stock

33
Q

Managing and controlling the ordering, storage, and use of stock

A

Inventory Management

34
Q

Critical component of a well-managed pharmacy

A

Inventory Management

35
Q

Inventory types

A
  1. Just-in-Time (JIT)
  2. Periodic Automatic Replacement (PAR)
  3. Minimum and Maximum
  4. ABC
  5. 80/20 Rule
  6. Perpetual Inventory
36
Q

An inventory management strategy that orders and receives a
product only as needed and not before it is used

A

Just-in-Time (JIT)

37
Q

Minimizes tying up funds for long periods and reduces the cost
associated with inventory management

A

Just-in-Time (JIT)

38
Q

It often means that a pharmacy does not hold safety stock that
lowers the inventory carrying costs
• It prevents overstocking and out-of-stock conditions

A

Just-in-Time (JIT)

39
Q

.An inventory management system in which predetermined numbers
(minimum and maximum) of medications are to be kept on a shelf

A

Minimum and Maximum

40
Q

• An inventory management system in which a set amount of a drug is automatically reordered

A
41
Q

.Identifies and defines each time based on its usage

A

ABC

42
Q

• In this system when a drug falls below a predetermined quantity it is automatically reordered

A

PAR

43
Q

.Products are ranked based on their purchase history and amount (cost)
of total annual costs

A

ABC

44
Q

determines the minimum level of inventory necessary to be on hand for a specific time period and requires automatic replenishment if the level of inventory falls below that level

A

PAR

45
Q

.items are goods for which the annual consumption value is the highest and
typically account for 20% of total inventory (fast moving items) – provides the
highest revenue

A

A

46
Q

.” items are goods that have medium consumption value and accounts for 30%
of total inventory

A

B items

47
Q

items have the lowest consumption value and typically accounts for 50% of
the total inventory (marginally important and are usually stocked with low
quantities due to high carrying costs associated with the stock levels)

A

C items

48
Q

An inventory management method that continuously records the
available quantity of a particular medication as prescription are filled
• After each prescription is filled and dispensed, the amount of medication
used for the prescription is removed from the inventory to ensure the the
quantity on hand is always current on the computer/database
• Deliveries and returns are recorded as they occur

A

Perpetual Inventory

49
Q

An inventory management method that continuously records the
available quantity of a particular medication as prescription are filled
• After each prescription is filled and dispensed, the amount of medication
used for the prescription is removed from the inventory to ensure the the
quantity on hand is always current on the computer/database
• Deliveries and returns are recorded as they occur

A

Perpetual Inventory

50
Q

Perpetual Inventory Used typically for

A

controlled drugs/substances

SPPE SUBS (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions