Analysis of Inventory Management System at Pharmacy of XYZ Hospital
Journal Title: International Journal of Current Science Research and Review - Year 2024, Vol 7, Issue 07
Abstract
This research examines inventory management at the XYZ Hospital Pharmacy Installation in Bandung, with a special focus on medicines and medical devices. The background to this research is the significant increase in health costs and the importance of effective supply chain management to reduce unnecessary costs. Based on monthly stock and daily sales data from October 2023 to February 2024, this research uses quantitative methods to calculate optimal inventory levels, including Economic Order Quantity (EOQ), safety stock, and reorder point (ROP). This research also applies ABC analysis and cycle counting to prioritize inventory control. The research results show that the proposed inventory policy, especially the continuous review strategy, has the potential for significant cost savings for the XYZ Hospital Pharmacy Installation. For pharmaceutical products, achieving a 99% service level can result in savings of IDR 302,697,429, which is 48.17% of the average inventory level. For medical devices, potential savings reach IDR 70,602,064, which is 48.77% of the average inventory level. The total potential savings for all products is IDR 373,299,493. These findings highlight that hospitals currently do not have effective controls in managing inventory of single-use medical devices. Implementing strong inventory policies and procedures is critical to improving cost efficiency and optimizing inventory levels within an organization.
Authors and Affiliations
Rizky Faisal Nugraha, Dr. Eng. Mursyid Hasan Basri, S. T, M. T.
Keywords
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- EP ID EP741248
- DOI 10.47191/ijcsrr/V7-i7-95
- Views 41
- Downloads 0
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