Preventing Out Of Stock With Purchasing Policy And Inventory Control
Good purchasing policy and inventory control are the bedrock of community and hospital pharmacy. For community or hospital pharmacy to survive, it must have stock at all times. Failure on this area alone can hinder the success of the pharmacy. Having stock at all times is one thing, having the right stock at the right quantities is the bottom line. Any pharmacist that wants to survive must develop a simple purchasing policy and inventory control. They all achieve one goal which is to increase sales and reduce cost. Read Also : Steps it took to revive a dead community pharmacy Purchasing policy involves knowing the right quantity and quality to buy, when to order, at what price and from what source. Inventory control is the result of this buying. Benefits Of Purchasing Policy And Inventory Control A good purchasing policy and inventory control system help to achieve the following goals; Sales: when a product is out of stock, the profit is lost to another community pharma...
