ANALYSIS OF APPLICABILITY OF TOOLS OF INVENTORY CONTROL AND KNOWLEDGE OF HOSPITAL PHARMACISTS ON METHODS OF INVENTORY IN THE CENTRAL PHARMACY OF A TERTIARY CARE HOSPITAL
Applicability of Inventory control
DOI:
https://doi.org/10.22159/ijpps.2019v11i8.32390Keywords:
Inventory control, ABC analysis, HML analysisAbstract
Objective: A study was conducted to analyse the applicability of the tools of inventory control of drugs, and the awareness of hospital pharmacists on the inventory tools in the central pharmacy of a tertiary care hospital.
Methods: Always Better Control (ABC) and High Moderate Low (HML) analysis were carried out for 4057 drugs purchased in the central pharmacy during the financial year of 2017-2018. The drugs were classified as A, B and C category based on their annual usage value and as Category High (H), Moderate (M) and low (L) drugs based on their unit price respectively. The knowledge of the 80 hospital pharmacists on the tools of inventory control was assessed using a structured questionnaire.
Results: Based on ABC analysis, of 4057 drugs, 330 drugs were classified under “A” category accounting to 8.13% of the total number of drugs purchased which was 70.91 % of total annual consumption in money value. The category “B” consisted of 667 drugs accounting to 16.44% of the total number of drugs which was 20.01% of total annual money consumption. Category “C” had 3060 drugs which accounted to 75.42% of the total number of drugs purchased which reflected on 9.01% of annual money consumption. Based on HML analysis, 440 drugs (10%) had a unit price above Rs. 500 and were classified under ‘H’ category. The drugs with unit price between Rs.500 and Rs.100 were grouped as ‘M’ items. There were 695 drugs (17.13%) in ‘M’ category. The ‘L’ category consisted of 2922 drugs (72.02%) with their unit price below Rs.100. Of 80 pharmacists, 84 % had good overall knowledge on the inventory control tools and 59 participants were willing to acquire additional training on inventory control techniques.
Conclusion: The study explained the need for the application of ABC and HML analysis, and the involvement of hospital pharmacists in the regular implementation of inventory analysis towards effective management of Pharmacy stores in a hospital setting.
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