Title : A Study of Pharmacy and analysis of inventory management by ABC and VED in a Tertiary care Teaching hospital
The aim is to critically analyze inventory of Pharmacy with selective inventory control techniques of ABC and VED matrix.
Methods: A Retrospective study was carried out for a period of 6 months . cost, quantity and cumulative value has been analyzed using ABC and VED matrix.
Results : Out of total 2641 items, 10.14% were “A” items with 69.98% of annual expenditure. 16.62% of “B” items consume 19.99% and 73.22% of “C” items had 10.02% of expenditure. 5.11% Vital (V) items, 28.06% Essential (E) items and 66.83% Desirable (D) items had 27.15%, 34.23% and 38.61% of total expenditure. ABC and VED matrix categorized I, II, III constitute 13.18%, 35.21% and 51.61% respectively .
Recommendations: The top management should focus on category I items. Frequent internal audit, ordering systems and issue of items needs close monitoring. ABC and VED matrix is more useful along with other inventory control techniques.
Key words ; ABC – VED matrix , Analysis , inventory , top management
Saturday, August 31, 2019