Aims of the service
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Obtaining medicines from manufacturers, wholesalers and short-line stores is an essential part of the pharmacy service. Medicine purchasing needs to be carried out with probity and to be undertaken efficiently.
Aims of the service
Obtaining medicines
from manufacturers, wholesalers and short-line stores is an essential part of
the pharmacy service. Medicine purchasing needs to be carried out with probity
and to be undertaken efficiently. There are conflicting demands on the service:
to avoid failing to meet a patient’s need but also avoiding excessive stock
within the pharmacy. Too large a stock holding means that trust money is tied
up in an asset; high stock levels may also lead to waste and will require more
space than would a reasonable stock level; there is also a risk that a change
in clinical practice could lead to wastage. The average stock holding for a
hospital pharmacy has been estimated at approximately 1 month’s supply, a stock
turnover of about 12 times per year. Although there may be pressure on hospital
pharmacies to decrease stock holding and thus increase turnover, the decrease
in value of asset needs to be balanced against increased costs to place orders
and clear invoices, as well as the risk of ‘stock outs’
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