REVIEW ON: INVENTORY MANAGEMENT

The pharmacy is one of the most extensively used facility in healthcare where a large amount of money is spent for purchasing medicinal items. In pharmacies, various drugs are being stored for supporting the therapy of patients. Due to the variety of pharmaceutical items, it is a difficult task to control and manage the quantity of drug. For a better and effective service management in a pharmacy, it is required a drug that must be provided continually at correct time and quantity to sustain steady in supply. This can be accomplished by efficient inventory management of pharmacy by providing control on important drugs, and deciding on priorities in purchase and distribution. Therefore, the inventory management is ensures significant improvement for both patient care and optimal use of resources. Three important methods regarding inventory management practice were studied such as ABC (Always, Better, Control) analysis, VED (Vital, Essential, Desirable) analysis, and ABC-VED matrix analysis. Keywords- Drug Inventory Management; Pharmacy; ABC; VED