Enhancement of Pharmacy Inventory Control System Thesis: Summary

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SUMMARY, CONCLUSION AND RECOMMENDATIONS

The study aimed to investigate the current pharmacy inventory control system of MDC. Weaknesses were identified through careful examination of the system. Management and all other people involved were interviewed and given a set of questions to give the researchers a clear view of their system. Non-participant observations were also made to verify the data gathered from the interview and questionnaires.

The inventory control system of MDC was composed of five stages namely, Purchasing, Receiving, Storage, Issuing, and Reporting. In Purchasing, request for replenishment was sent when there was a little buffer inventory left. The management does not use ROP system and EOQ model as part of their purchasing procedures. The manager would simply make a call to their suppliers; no Purchase Order (PO) form was prepared to document the purchase.
In Receiving, the pharmacist would inspect and count the goods delivered. No Receiving Report (RR) was prepared and physical count was not supervised. The goods received would be brought to the pharmacy or stockroom. There were no existing logbooks as to record the receipt and issuance of goods. Also, there was no proper valuation of inventory. Hence, reporting of their inventory is not reliable.

From the gathered data, the researchers assessed that the current pharmacy inventory control system of MDC is relatively weak and lacks control for security. It was also observed that employees in MDC had relatively low knowledge about accounting which convinced the researchers to create a simple and easy to learn enhanced inventory system for the pharmacy.