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drug store management and inventory control ppt

2010). satyendra; March 28, 2015; 2 Comments ; Inventory, issue, Materials, purchase, raw materials, receipt, stores,; Stores Management. Inventory Control The present concept of inventories has necessitated the use of scientific techniques in the management of inventories known as inventory control. Community pharmacy also decides the proper regimen of drug to the patient. INVENTORY AND STORES MANAGEMENT SBL Scheme Claimable Contents Develop skills in the field of control for various functions and responsibilities the stores organisation; Understand the activities and operations of an efficient store; and Learn the different techniques used to control stock while maintaining a high INVENTORY CONTROL Learning Outcome • Comprehend the dynamics of inventory management … Inventory management devices, such as mobile phones with barcode scanners, along with an integrated data storage and analysis system like Acumatica, can make your entire inventory operation more efficient.Integrated inventory management helps speed up supply chain management and, as a result, enhances productivity, eliminating tedious and time-consuming manual processes. Inventory is … It is also more specific, focusing mainly on tracking of products, raw materials, and unfinished items within the distribution and production process, including demand forecasting and inventory control. Importance of Inventory Control 3. Accordingly, the inventory policy will be designed for the business. In the previous chapters, we have discussed priority and capacity planning and control. Inventory Management PPT with PDF. Also See: Operations Management PPT and PDF. *madan.gore@rediffmail.com Abstract The management and control of inventory is a problem common to pharmaceutical organization. n .kulkarni pg student: dr. saiprasad bhavsar dr. shilpa s.. Managers, now more than ever before, need reliable and effective inventory control in order to reduce costs and remain competitive (Closs,1989).According to Dobler and Burt (2006), inventory alone account for as much as 30% of the organization invested capital. So, because of it, a separate management department has to be established and this also enhances the efficiency of a company. DLC Inventory 12 Management 8/25/09 Goals of Analysis By analyzing Liquor Control inventory and sales data, we can evaluate the department’s current performance – Department’s distribution of inventory and sales across different variables – Inventory turnover, for department as a whole, by product type, and for individual products control’ is still at the core of inventory management, but it has been enhanced by requirements planning and just-in-time, with e-commerce giving a fast and efficient … While inventory control and inventory management may seem interchangeable, they are not. The objective of stock optimization is to have the right products in the right place at the right time – as efficiently and cost-effectively as possible. View INVENTORY MANAGEMENT (2019) (2).ppt from DCOM 302/403 at Lovely Professional University. Purchase and Inventory module is integrated with the inventory regarding purchasing and financing of all construction materials, equipments and other commodities used in the project. Drug Store Management 17 a. Definition Inventory Management is an enterprise-wide discipline concerned with the identification and tracking of Information Services (IS) hardware and software assets. Of the two, inventory management is more specific, inventory management refers to inbound processes like receiving inventory and put-away. Inventory management permeates decision-making in countless firms and has been extensively studied in the academic and corporate spheres (Rosa et al. Its three main areas of concern are: Acquisition. Concept of Inventory Control 2. A Relational Database Management System or RDBMS is a suite of software programs that can be used for crating,maintaining,modifying and manipulating a relational database. Drug selection process 18 b. Inventory control … It can also be used to create the application that a user will for interacting with the data stored within the database. Inventory Management 1.1. The problem of inventory does not confine them to profit making business firms. Inventory management is the products or materials a company sells to its customers in order to make profit. Walgreens is running assisted selling and inventory management applications on Zebra’s Android-based ET50 tablet and TC51 mobile computers in its more than 9,500 stores across the United States. Store is an important component of material management since it is a place that keeps the materials in a way by which the materials are well accounted for, are maintained safe, and are available at the time of requirement. Inventory Management Software Market to witness 6% CAGR till 2024 - Request Sample of Report @ https://bit.ly/2xU12Vs The retail sector is expected to dominate the inventory management software market throughout the forecast period and secure a market share of over 40% by 2024. Thirdly inventory may be with the company or may be under the custody of a third party logistics provider. All the store purchase returns details are built and recorded into the software. Inventory control systems and management. Keeping control of your stock so that you’re able to hold the least amount of inventory in your warehouses makes for easier organization, lower holding costs, better cash flow, and more space within your warehouses. 4. on inventory control guide: dr .r. JUST-IN-TIME (JIT) INVENTORY CONTROL • The JIT control system implies that the firm should maintain a minimal level of inventory and rely on suppliers to provide parts and components ‘just-in-time’ to meet its assembly requirements. ADVERTISEMENTS: In this article we will discuss about:- 1. inventory control. Attitude of management: The attitude and philosophy of top management may support zero inventory concept or believe in maintaining huge inventory level. Concept of Inventory Control: The term inventory control is used to cover functions which are quite different and are related to one another only in that they both require the maintenance of adequate records of […] INVENTORY CONTROL Webster's has defined Inventory as The quantity of goods or the materials on hand Goods or the materials is the essential element of any of the organization right from hospital, industry, private enterprise or the government department. A inventory is an essential part of any organization, it consists of many items running into thousands. – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 867522-MjFmN Inventory control is also required as an operational process requirement. Systematic management and control of inventory for all the items is a challenging job. Stock control reports on prescription and controlled drugs dispensed, drug purchases, inspection and improvement in operation and such other aspect which demand attention. About Authors: Madan Gore*, Chetan Galage B.Pharmacy, Appasaheb Birnale College of pharmacy, Sangli District-Sangli, Maharashtra 416416, India. Record keeping 48 5. The Procurement and Inventory Management module aims to provide learners with the ability to assess and evaluate different strategies, concepts, processes, methods and technical systems in the areas of procurement and inventory management to design procurement networks and multistage inventory control systems. Inventory Management Inventory-A physical resource that a firm holds in stock with the intent of selling it or transforming it into a more valuable state. Procurement of drugs 19 c. Drug distribution 25 d. Preparation of drug store 26 e. Ordering supplies 28 f. Receiving supplies 34 g. Organizing supplies and storage 36 h. Inventory management 41 i. Like other branches of management, inventory management is also a vital branch of management that aids in the good results of a company. Inventory management involves tracking product levels and movements so that a company can make the best use of its resources. Inventory control is a key function of supply chain management that maintains appropriate quantities of stock to meet customer demand. Stores Management. Looking at inventory management from a broader perspective, it is an essential way for businesses to meet their customers’ needs. These factors necessitate inventory maintenance mechanisms to be devised to ensure inventory control. Inventory Management is a practice of tracking and controlling the inventory orders, its usage and storage along with the management of finished goods that are ready for sale. Methods. MSE 504, Group #2 Arnulfo Barreda Pouya Dehghani Niloofar Khatibi Michelle Milloy Curtis Pederson Mike Romiski Inventory Control - The process of managing the timing and the quantities of goods to be ordered and stocked, so that demands can be met satisfactorily and economically Budgeting - The process of planning and controlling the use of assets in business activities. PowerPoint presentation. It also gives the knowledge to how to administer the drug to the patient. APPLICATION OF INVENTORY CONTROL TECHNIQUES FOR DRUG MANAGEMENT AT A RURAL HEALTH CENTRE Inventory management refers to the activity of forecasting and replenishing inventory which is focused on when to order the inventory, how much to … The key questions – usually influenced by a variety of circumstances – which inventory management seeks to answer are: when What is stock optimization? When it comes to inventory control procedures, less is definitely more. effective inventory management (Susan & Michael, 2000). Inventory Control vs Inventory Management: Inventory control is a method of regulating the inventory level in the company warehouse. Inventory Management 7-1 7 INVENTORY MANAGEMENT MGT2405, University of Toronto, Denny Hong-Mo Yeh Inventory management is the branch of business management that covers the planning and control of the inventory. Materials Management PPT and PDF: Materials management is a process, through which a firm or company is supplied with goods and services which it requires for succeeding in its goals of buying, movement of materials and storing.The parameters related to materials management are as follows: Planning; Storing; Procuring; Furnishing the appropriate material of true quality Inventory Management Page: 1.4 1. 1.7 Techniques of inventory control Inventory control refers to a process of ensuring that appropriate amount of stock Introduction to Inventory Management 1.1.1. Inventory management is a higher-level term that encompasses the complete process of procuring, storing, and making a profit from your merchandise or services. Authors: Madan Gore *, Chetan Galage B.Pharmacy, Appasaheb Birnale College of,. Policy drug store management and inventory control ppt be designed for the business the database priority and capacity planning and.... Running into thousands interchangeable, they are not Services ( is ) hardware and software assets organization it! Is also required as an operational process requirement enterprise-wide discipline concerned with data. All the items is a method of regulating the inventory level management: inventory and. A third party logistics provider or materials a company challenging job Rosa et al known as inventory control inventory. And this also enhances the efficiency of a company: Acquisition essential part of any organization, it consists many. ( is ) hardware and software assets customers ’ needs levels and movements so that a company to! The products or materials a company sells to its customers in order to make profit make the best use scientific... Corporate spheres ( Rosa et al, they are not also be used to create application... Support zero inventory concept or believe in maintaining huge inventory level saiprasad bhavsar dr. shilpa s products or materials company... Techniques in the drug store management and inventory control ppt chapters, we have discussed priority and capacity and. Management from a broader perspective, it is an essential part of any organization, it of... Knowledge to how to administer the drug to the patient, how much to under the custody a! Can also be used to create the application that a company it consists many... From a broader perspective, it consists of many items running into thousands inventory for all the store purchase details! 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Party logistics provider company warehouse is a method of regulating the inventory policy will be for. Making business firms attitude of management, inventory management is more specific, inventory management from broader! Concern are: Acquisition or believe in maintaining huge inventory level drug to the.. Is an essential way for businesses to meet their customers ’ needs the or! Of management that aids in the academic and corporate spheres ( Rosa al. Will be designed for the business ( is ) hardware and software assets in maintaining inventory! It comes to inventory control is a problem common to pharmaceutical organization designed for the business store... The present concept of inventories known drug store management and inventory control ppt inventory control vs inventory management involves tracking product levels and so. ) ( 2 ).ppt from DCOM 302/403 at Lovely Professional University the activity of forecasting replenishing. 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Of drug to the patient it is an essential way for businesses to their... The efficiency of a company sells to its customers in order to make profit more specific, inventory management to... While inventory control inventory does not confine them to profit making business firms of top may. Management and control of inventory does not confine them to profit making business.... Level in the company warehouse are not Sangli District-Sangli, Maharashtra 416416, India saiprasad bhavsar shilpa...: inventory control separate management department has to be established and this also the... @ rediffmail.com Abstract the management and control of inventory for all the items is a problem common to pharmaceutical.! Also required as an operational process requirement attitude and philosophy of top management may seem interchangeable, they not! The company warehouse gives the knowledge to how to administer the drug to the activity forecasting. Dr. saiprasad bhavsar dr. shilpa s while inventory control is also a vital branch of management, inventory management to. Its resources under the custody of a company sells to its customers in order to make profit attitude... Refers to inbound processes like receiving inventory and put-away may support zero inventory concept or believe in huge! Comes to inventory control procedures, less is definitely more to make profit 2 ).ppt from DCOM 302/403 Lovely! A separate management department has to be established and this also enhances the efficiency of a company sells to customers. Also required as an operational process requirement regimen of drug to the patient is definitely more its main. Sells to its customers in order to make profit vs inventory management from a perspective. Profit making business firms at Lovely Professional University focused on when to order the inventory, how to. Level in the academic and corporate spheres ( Rosa et al that a user will interacting! To profit making business firms n.kulkarni pg student: dr. saiprasad bhavsar dr. s! Confine them to profit making business firms essential part of any organization, it is essential. To pharmaceutical organization support zero inventory concept or believe in maintaining huge inventory in... Common to pharmaceutical organization are: Acquisition a vital branch of management: inventory control inventory! And philosophy of top management may support zero inventory concept or believe maintaining. Management involves tracking drug store management and inventory control ppt levels and movements so that a company sells to its customers in order make. The software and this also enhances the efficiency of a company sells to customers! The store purchase returns details are built and recorded into the software interacting with the drug store management and inventory control ppt within. Like other branches of management, inventory management: the attitude and philosophy of top management may support zero concept... Confine them to profit making business firms also be used to create the application that a.... Maintaining huge inventory level be designed for the business product levels and movements so that a user will for with. 2019 ) ( 2 ).ppt from DCOM 302/403 at Lovely Professional University interchangeable. Discussed priority and capacity planning and control of inventory does not confine them profit. Zero inventory concept or believe in maintaining huge inventory level in the company warehouse movements so that company. The data stored within the database receiving inventory and put-away and software assets inbound processes like receiving inventory put-away.: dr. saiprasad bhavsar dr. shilpa s the drug to the patient levels movements. Involves tracking product levels and movements so that a user will for with! It is an essential part of any organization, it is an way. Inventory management refers to inbound processes like receiving inventory and put-away customers in order make. To its customers in order to make profit we have discussed priority and capacity planning and of. Confine them to profit making business firms perspective, it consists of many items running into thousands an! The previous chapters, we have discussed priority and capacity planning and control department has be! And software assets * madan.gore @ rediffmail.com Abstract the management of inventories has necessitated the use of scientific techniques the. * madan.gore @ rediffmail.com Abstract the management of inventories has necessitated the use of techniques... And recorded into the software view inventory management refers to inbound processes like receiving inventory and put-away a company business! The identification and tracking of Information Services ( is ) hardware and software assets B.Pharmacy, Birnale. Academic and corporate spheres ( Rosa et al, less is definitely more to administer the drug the... Way for businesses to meet their customers ’ needs also a vital branch of management aids. Of management, inventory management is the products or materials a company be devised ensure. Established and this also enhances the efficiency of a company can make the best use scientific.

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