Description
COURSE OVERVIEW
In order to create a healthcare environment that will meet the public need, there should be a vision, or collective view, of what is required both now and into the future. This vision will set the conditions and framework within which supplying organizations can develop and define their services and service levels.
Inventory exists in the supply chain because of a mismatch between supply and demand. This mismatch is intentional at a steel manufacturer, where it is economical to manufacture in large lots that are then stored for future sales. The mismatch is also intentional at a pharmacy shop where inventory is held in anticipation of future demand. An important role that inventory plays in the supply chain is to increase the amount of demand that can be satisfied by having the product ready and available when the end user or customer wants it.
Another significant role that inventory plays is to reduce cost by exploiting economies of scale that may exist during production and distribution. Inventory impacts the assets held, the costs incurred, and responsiveness provided in the supply chain. High levels of inventory in an a healthcare supply chain improve responsiveness but also leave the supply chain vulnerable to aging products, obsolescence, and write-offs leading to lower profit margins. Low levels of inventory improve inventory turns but may result in out of stock situations.
A warehouse is an important part of a firm’s logistics and supply chain system that is used to store products (e.g., raw materials, parts/components, goods-in-process, finished goods) at and between the point of origin and the point of consumption. It provides information to management on the status, condition, and disposition of items being stored to create time and place utility for the firm’s customers. The traditional functions of a warehouse include the following; receiving, repackaging, cutaway, cross docking, and utilizing.
COURSE OBJECTIVE(S)
On successful completion of this course, students are expected to have enhanced skills in:
- Introduce students to management and retrieval of information for inventory decision and generate reports on distribution of pharmaceutical supplies.
- Introduce students to receiving and issuing of procured inventory with inventory management software
- Expose students to accurate quantification of ordering pharmaceuticals health supplies
- Assist students to develop the skills to identify appropriate records used in inventory management.
LEARNING OUTCOMES
On completion of the Introduction to Supply Chain Management course the students should be able to:
- Discuss why inventory control is important for pharmacies.
- Understand the objectives of inventory control within a pharmacy.
- Become familiar with some of the more common purchasing concepts.
- Become familiar with some of the methods for controlling inventory.
- Discuss purchasing policies and their value within the pharmacy.
- Discuss some of the different models for inventory control.
- Having a working knowledge of some of the most common receiving and storage policies.
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