Pharmacy Purchasing & Inventory Management Quiz

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Questions and Answers

Which factor needs to be considered when choosing a supplier for a retail pharmacy?

Quality of the products (correct)

Size of the products

Color of the products

Weight of the products

What are the objectives of purchasing for a retail pharmacy?

To obtain products at any time

To obtain products in any quantity

To obtain the most expensive products

To obtain products at the right time, right price, and right quality (correct)

What are the components of pharmacy purchasing and inventory management?

Selling, promoting, delivering, and advertising

Designing, analyzing, implementing, and evaluating

Manufacturing, testing, packaging, and distributing

Ordering, receiving, storing, and reordering (correct)

How does inventory management impact pharmacy management?

It can contribute positively or negatively to company profit, patient satisfaction, and patient health Signup and view all the answers

What should drive the decision related to product choice in a retail pharmacy?

The target market and quality of the products Signup and view all the answers

In pharmacy purchasing and inventory management, what is the primary factor that influences company profit and patient satisfaction?

Reordering strategy Signup and view all the answers

What is the main objective of purchasing for a retail pharmacy?

Obtaining products in the right quantity Signup and view all the answers

Which aspect significantly impacts the decision related to product choice in a retail pharmacy?

Market demand Signup and view all the answers

What contributes 75% to Cost of Goods Sold (COGS) for a retail pharmacy?

Inventory management Signup and view all the answers

Which function has a huge impact on pharmacy management and is closely interrelated with inventory management?

Purchasing Signup and view all the answers

What is a potential benefit of accreditation for customers?

Provides confidence that risk is minimized Signup and view all the answers

What is a potential benefit of accreditation for staff in the organization?

Empowerment to improve processes and current practices Signup and view all the answers

Which dimension is a focus of accreditation standards?

Accessibility of care Signup and view all the answers

How does accreditation potentially influence liability insurance premium and managed care contract decisions for the organization?

By providing assurance that service meets quality health standards Signup and view all the answers

What is a potential benefit of accreditation for people who fund the organization?

Stimulates quality improvement efforts Signup and view all the answers

Study Notes

Accreditation

Accreditation is a self-assessment and external peer-review process used by healthcare organizations to evaluate their performance against established standards.

Purpose of Accreditation

Enables healthcare organizations to assess their level of performance against nationally applied standards.
Allows organizations to monitor and improve their performance against established standards on an ongoing basis.
Provides opportunity for external review and validation.

Types of Accreditation Programs

Voluntary accreditation programs: used in USA, Canada, Australia, and New Zealand.
Mandatory accreditation for all healthcare facilities and services: used in Taiwan and France.

Definition of Accreditation

Accreditation is defined as a self-assessment and external peer-review process used by healthcare organizations to accurately assess their level of performance in relation to established standards and to implement ways to continuously improve the healthcare system (International Society for Quality in Health Care Inc., 1998).

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Description

Test your knowledge of pharmacy purchasing and inventory management with this quiz. Learn about methods of purchasing goods, factors to consider when choosing a supplier, and methods of inventory management.