Home Library Explore SAT

Home Library Explore SAT

PM2 Purchasing & Inventory Management Flashcards | StudBud

Explore/PM2 Purchasing & Inventory Management

Pool buying power of member pharmacies to obtain lower prices from manufacturers

Inventory Ratio = 12

PM2 Purchasing & Inventory Management

7 terms·StudBud Administration·44 plays

Imported from external platform

Flashcards7 cardsFPractice quizPHost liveL

Questions 7

Answers

1
Inventory Ratio = 12
Your inventory last 12 days
You sell your entire inventory 12 times a year
You have 12 months of inventory on hand
Too much cash tied up in inventory
2
Pool buying power of member pharmacies to obtain lower prices from manufacturers
Wholesaler
Pharmacy buying group
GPO (e.g. Premier)
3
Additional supply of epinephrine on-hand in case of a shortage.
Buffer stock
Anticipatory stock
Cycle stock
Speculative stock
4
Computerized system in which purchases are entered reducing existing inventory to a point where re-order happens
Perpetual inventory management
Visual method of inventory management
Digital inventory managment
Periodic inventory management
5
3 components of the supply chain
Manufacturers, Distributors, Health care Providers
Research, Development, Delivery
Primary, Secondary, Tertiary
Buyers, Sellers, Resellers
6
Cost the pharmacy pays for a drug product
Acquistion cost
Ordering cost
Procurement cost
Opportunity cost
7
Goal of demand planning
To balance the daily workload of the pharmacy
To get better prices from suppliers
To produce a reliable projection of future customer demand
To even out sales each month