One of the most important aspects of pharmacy management is doing accurate inventories. If done correctly, this task provides valuable information about the state of your business and enables you to identify areas in need of improvement. The following list outlines how to do an effective pharmacy inventory.
Prepare to take an inventory
Firstly, you should start by collecting all the inventory for your store and checking to see if it matches on paper with what is in your storage areas. The best way to do this is by using a visual checklist that divides items into sections such as pharmacy shelves, over-the-counter products, refrigerators or freezers etc., then comparing each category and counting how much of each product remains. This ensures that none are missed since they might have been misplaced during the process of moving them from one area to another.
Check the expiry date of the drugs
Secondly, you should ensure all stock levels match up when doing an inventory of drugs per expiration date (DPE) which helps identify expired medications so they can be disposed off properly. To make sure your DPE inventory is accurate, make sure you include all medications that have a date of expiration on the label.
Check the physical quantities to see if they agree with the stock
Thirdly, count and record how many bottles are in each box to calculate your total number of stock per medication item or over-the-counter product with this information you can determine which products need replenishing. Sometimes it’s best to use packing boxes made specifically for holding one bottle at a time so they’re easy to stack when counting them up. Pharmacy inventory list
Checking that everything is in the right place
Fourthly, be sure that every shelf has an organized set of pharmaceuticals where items like cough syrup will be kept next to throat lozenges instead of spending some time out on display racks where other customers might reach for it by mistake because then there would be no way knowing which item is the correct one to pick up.
Lastly, when doing an inventory of your pharmacy’s items it’s important that you include all types including those for hospital use. This can help ensure everything has been inventoried and nothing was overlooked during this process since there might be products that are only used in hospitals but not distributed through retail pharmacies like drug treatments administered intravenously or drugs given by injection as well as other medications and equipment needed for medical care such as IV bags which need to be counted separately from over-the-counter medication bottles.
One thing every pharmacist should keep in mind about inventories is they’re more than just a way for them to track their stock, but also how often they’ve got new shipments coming in and how quickly they’re being used up. As with any other type of sale, the more often you sell a product the less inventory it will take to run out so keep this in mind when looking at your numbers and notice if anything is selling too slowly because that might be something worth restocking or removing from inventory all together since there’s no point taking up space for an item that isn’t going to be sold.