Solution- Pharmacy's video: Pharmacy Practice 27 Drug Store Management Inventory Control Part 02 Purchase Inventory

Download the "Solution Pharmacy" Mobile App to Get All Uploaded Notes, Model Question Papers, Answer Papers, Online Tests and other GPAT Materials - https://play.google.com/store/apps/details?id=co.bolton.nqilv Purchase and Inventory Control The basic purpose of purchases is to ensure a continuous flow of raw materials of the right quality, right quantity, the right price, and from the right sources. Another objective of purchasing is the avoidance of duplication and wastage with respect to various items purchased. Centralized purchase by medical stores procures the drugs on behalf of all the departments and helps in getting quality drugs at cheaper rates. Some important terms are explained below. 1. Right Quality: Right quality means the quality which is available according to the particulars mentioned in terms of grades, brands or trade names, physicochemical characteristics, etc. The quality must describe even the national standards to the extent it is possible. 2. Right Quantity: Right quantity is an important parameter of purchasing for a continuous supply of raw materials. “Economic order Quantity” or any other technique may be followed in order to avoid shortage. 3. Right Price: The term right price means consistent matching with the quality of the drug. Generally, the tender system is followed in hospitals and the lowest bidder is chosen for supplying the order. 4. Right Source-The supplier should be dependable and capable of supplying as per requirements from time to time. The selection of suppliers requires consideration of various factors. 5. Right Time-Purchased department should have lead time information for all products. Lead time is the total time period between the placing of an order and receipt of material while doing purchases. The purchase committee should consider emergency situations like floods, strikes, accidents, etc. PURCHASE PROCEDURE The purchase procedure involves different steps for the procurement of goods. They are as under: I. Determination of Requirement- The materials to be purchased for a particular period are well planned for the purpose of their regular and continuous use. The purchase requisition is generally prepared by departmental heads and provides the information mentioned below. (a) Type of material to be purchased (b) Time of requirement, (c) Quantity to be purchased, II. Source of Supply- The pharmacy and therapeutic committee sets adequate standards for the purchase of quality drugs. Procurement of stores is generally done by following sources: (i) Medical store depot (ii) Directorate general supplies and disposals (iii) Direct from wholesalers and manufacturers (iv) By inviting tenders (v) Emergency purchases from the local market III. Purchase Order After selecting the supplier, the chief pharmacist or any other suitable authority prepares a purchase order giving a detailed description, specification, packaging, price, and quantity needed, etc. of the items. This purchase order is in written form and it is the evidence of a contract between the buyer and the supplier. IV. Receipt of Acknowledgment After placing the order to the supplier by sending a copy of the purchase order, the supplier, in turn, sends an acknowledgment of the order saying that he will be able to supply the goods with the terms and conditions which are mentioned in the purchase order. V. Receipt of Drugs On receipt of drugs, there should be a system in the stores whereby the supply of drugs received in the medical stores from the manufacturer is properly checked by a person specially assigned for this purpose Preferably the same person is responsible for reviewing the stocks, date of expiry, description, quantity, and batch number, as mentioned in the order form. VI. Distribution of Drugs to Wards: Drugs should be supplied in the original packing of manufacturers. However, if it is not possible to do so, then that should be supplied in clean containers so that the integrity and original properties can be preserved. Get in touch with the solution by just clicking the following links- Facebook Group- https://www.facebook.com/groups/solutionpharamcy Mobile App - https://play.google.com/store/apps/details?id=co.bolton.nqilv New Channel (Pharmacy Dictionary) https://www.youtube.com/channel/UCt6OXVV_2oxf5DD0Mad6e9A E-Mail for official and other work - solutionpharmacy@gmail.com