INVENTORY MANAGEMENT: ASSOCIATED COSTS, FUNCTIONS, FACTORS, AND CONCLUSIONS

One of the healthcare facilities that is most frequently used and where a significant sum of money Is spent for acquiring pharmaceuticals. Many medications are kept in pharmacies to aid in patients’ Treatment. It is challenging to regulate and control the amount of medication because of the wide Range of pharmaceutical products. A medication that is consistently supplied at the appropriate Time and quantity to maintain a steady supply is necessary for improved and efficient service Management in a pharmacy. This can be achieved by effectively managing the pharmacy’s Inventory, controlling key medications, and setting priorities for distribution and purchases. As a Result, inventory management guarantees both optimal resource utilization and a notable Improvement in patient care. Three key approaches to inventory management were examined, Including ABC (Always, VED (Vital, Essential, Desirable) analysis, ABC-VED matrix analysis, And Better, Control) analysis.