Inventory management (Mr. Mola - BIBT)

What is one of the main reasons for managing a pharmacy’s inventory?

• To increase stock quantities

• To prevent out-of-stock situations that affect patient care

• To reduce pharmacist workload

• To increase medication costs

What system provides real-time tracking of inventory and sales in pharmacies?

• Periodic Inventory Systems

• Manual Inventory Systems

• Perpetual Inventory Systems

• Just-in-Time (JIT) Systems

What is the benefit of using the Just-in-Time (JIT) inventory system?

• Reducing holding costs

• Increasing stock levels for safety

• Eliminating the need for suppliers

• Enhancing patient care through overstocking

Which inventory system involves manually counting stock at intervals?

• Periodic Inventory Systems

• RFID Inventory Systems

• Perpetual Inventory Systems

• JIT Systems

Which analysis technique categorizes inventory based on value and demand?

• EDI

• FIFO

• ABC Analysis

• a) RFID

Why is it important to rotate stock using the FIFO method?

• To ensure the lowest prices

• To store high-demand products longer

• To prevent expiration and waste

• To reduce supplier interaction

What role does RFID play in inventory management?

• It identifies products manually

• It tracks and identifies products using radio waves

• It allows for periodic counting

• It prevents products from being ordered

What is one drawback of manual inventory systems?

• Real-time tracking

• High accuracy in stock levels

• Low setup costs

• Prone to human error

How does ABC analysis categorize items?

• Alphabetically

• Based on expiration dates

• Based on value and demand

• Based on supplier relationships

What is the main goal of Electronic Data Interchange (EDI) in inventory management?

• To track inventory manually

• To ensure real-time counting

• To automate data exchange with suppliers

• To store high-value products longer