Drug Inventory Management of a Pharmacy using ABC and VED Analysis

Abstract

The pharmacy is one of the most extensively used facility in healthcare where a large amount of money is spent for purchasing medicinal items. In pharmacies, various drugs are being stored for supporting the therapy of patients. Due to the variety of pharmaceutical items, it is a difficult task to control and manage the quantity of drug. However, for a better and effective service management in a pharmacy, required drug must be provided continually at correct time and quantity to sustain steady in supply. This can be accomplished by efficient inventory management of pharmacy by providing control on important drugs, and deciding on priorities in purchase and distribution. Therefore, the inventory management ensures significant improvement for both patient care and optimal use of resources. In this study, annual drug sale data of a pharmacy was analyzed to identify the categories of drugs needing strict management control. Three important methods regarding inventory management practice were studied such as ABC (Always, Better, Control) analysis, VED (Vital, Essential, Desirable) analysis, and ABC-VED matrix analysis. The aim of this study was to properly manage the drug inventory in the pharmacy to balance drug levels to provide patients’ needs and customer satisfaction. 

Keywords

• Drug Inventory Management,Pharmacy,ABC Analysis,VED Analysis

References

1. Antonoglou, D., Kastanioti, C., & Niakas, D. (2017). ABC and VED Analysis of Medical Materials of a General Military Hospital in Greece, Journal of Health Management.
2. Devnani, M., Gupta, A.K., & Nigah, R. (2010). ABC and VED Analysis of the Pharmacy Store of a Tertiary Care Teaching, Research and Referral Healthcare Institute of India, Department of Hospital Administration, 2, 201-205.
3. Gupta, R., Gupta, K.K., Jain, B.R., & Garg, R.K. (2007). ABC and VED analysis in medical stores inventory control, Medical Journal Armed Forces India, 63, 325–327.
4. Khurana, S., Chhillar, N., & Gautam, V. K. (2013). Inventory control techniques in medical stores of a tertiary care neuropsychiatry hospital in Delhi, Health, 5, 8-13.
5. Kumar, M.S., and Chakravarty, B.A. (2014). ABC–VED analysis of expendable medical stores at a tertiary care hospital, Medical Journal Armed Forces India, 71(1), 24-27.
6. www.ncpanet.org, "Managing the Pharmacy Inventory", National Community Pharmacists Association (NCPA).
7. Pund, S. B., Kuril, B. M., Hashmi, S. J., Doibale, M. K. & Doifode, S.M. (2016). ABC-VED Matrix Analysis of Government Medical College, Aurangabad Drug Store. International Journal of Community Medicine And Public Health, 3(2), 469–472.
8. Singh S, Gupta AK, Latika L, & Devnani M. (2015),. ABC and VED analysis of the pharmacy store of a tertiary care, Academic Institute of the Northern India to identify the categories of drugs needing strict management control. Journal of young pharmacists, 7(18), 76–80.

9. Thawani, V.R., Turankar, A.V., Sontakke, S.D., Pimpalkhute, S.V., Dakhale, G.N., & Jaiswal, K.S. (2004). Economic analysis of drug expenditure in Government Medical College Hospital Nagpur. Indian Journal Pharmacol, 36, 15–19.
10. http://www.titck.gov.tr, Turkish Medicines and Medical Devices Agency (TMMDA).
11. Uygun, S., and Yiğit, V. (2017). Hastane işletmelerinde etkin stok yönetimi: ilaç stoklarına yönelik bir uygulama, Mehmet Akif Ersoy Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 9(18), 288-307.
12. Vaz, F.S., Ferreira, A.M., Kulkarni, M.S., Motghare, D.D., & Pereira-Antao, I. (2008). A study of drug expenditure at a tertiary care hospital: An ABC-VED analysis. Journal of Health Management, 10, 119-127.
13. Yeşilyurt, Ö., Sulak, H. & Bayhan, M. (2015). Sağlık Sektöründe Stok Kontrol Faaliyetlerinin ABC ve VED Analizleriyle Değerlendirilmesi: Isparta Devlet Hastanesi Örneği, Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 20(1), 365-376.
14. Yu, M.-C. (2010). Multi-criteria ABC analysis using artificial-intelligence-based classification techniques, Expert Systems with Applications, 38 (4), 3416–3421.