NHF- INVENTORY MANAGEMENT

Inventory Records are important for conducting business in an orderly, efficient and accountable manner.

• TRUE

• FALSE

Which is NOT a type of stock in Inventory Management?

• Work in Progress

• Materials and components

• Component parts

• Financial stock

Which of the following is NOT a method of stock locataion?

• Nature of the item

• Frequency of use

• Price of the item

• Random location

Select the ideal stock/inventory position.

• Over stocking

• Optimum stock

• Under stocking

• Stock outs

Which of the following is NOT a storage cost?

• The cost of the items

• Rental of storage space

• Pilferage

• Stores insurance

Managing medication supply is a challenge for all pharmacies

• TRUE

• FALSE

Which is NOT a benefit of proper Inventory Control?

• Improved customer service

• Increased staff morale

• Increased profitability

• Reduced frequency of stock-taking

Select the Reorder Level (ROL) formula:

• (UR x LT) + SS

• (SS x UR) + LT

• (LT x SS) + UR

• (UR x SS) + LT

State the THREE main areas/columns seen on a Stock Card in addition to the date column.

• Receipts, Storage, Issues

• Receipts, Issues, Balance

• Cost of the item, nature of the item, location of the item

• Item description, Balance on hand, Quantity on order

In a Pharmacy which of the following are likely to be detected during a stock count?

• Deterioration of stock items and breakages

• Obsolete stock

• Slow moving and dead stock

• All three options given