Proposal for Inventory System Essay

In todays global world, entre to base and tint healthc be is crucial and despotic in ensnare to stool a proper and healthy life. In view of this, access to quality and affordable drugs is a basic raw material in enhancing good and quality healthcare. It is therefore necessary and important to ensure that patients can substantially get access to quality, un-expired and affordable drugs for the treatment of their diseases and sicknesses. more or less importantly the skill with which these services are carried out can go a enormous way to save lives and improve upon the health status of individuals.Medisol pharmaceutical high society Limited is a private retail pharmaceutical company found in Ghana and their main(prenominal) focus is to regularly sell pharmaceuticals, pare down care products, baby care products and cosmetics to its customers. The company makes continuous efforts to maximize guests satisfaction by providing good customer service and in any case segment ing their market so as to enable customers have easy access to their sales outlets.The company has its head office at Kanda and two former(a) branches at west legon and kasowa respectively with their main target groups being the oecumenic public. Medisol Pharmaceutical high society ltd. has two major departments namely the Finance/administrative Department and the Retail Department which are directly under the management of the CEO. The company has numerical staff strength of five (5) comprising of a CEO, a superintendent pharmacist, pharmacist, an accountant and a medicament counter assistant.Below is an organogram of Medisol Pharmaceutical company ltd. The Finance/Administrative department which is headed by the accountant handles generally the financial and administrative tasks of the company. The companys Retail Department serves as a liaison between Medisol and its customers and is headed by the Medicine Counter Assistant. The main responsibilities of this department are to manage the retail stock, sell items to customers and submit weekly reports to the CEO.Medisols operations are solely manual as our group got to the company we were privileged to speak to the head of the retail department who explained good to us how the manual surgery takes drive. The process starts with stock purchase where the medicine counter assistant makes a tilt of all needed items to be bought. This list is sent to their wholesalers for delivery of the items. Upon delivery, the items are go across canvass with the prepare list made and a sales invoice is then give to Medisol which is then filed in a purchasing file.Items to be exchange are arranged on shelves with price tags on each item. Details of items sold are recorded in a sales book. Retail stocks are taken three times in a month and the process used is as follows -Drugs on the shelves are counted and the mensuration is crossed checked with the sales invoice kept in the purchase file(which shows quantity of items bought ), this is do to know the quantity of items sold -The quantity of sold items is then crossed checked from the sales books to further check if the items were really sold, expired or stolen.This process helps them to know how much items have been sold, how much stock is left and also determine whether to make an order or not. Medisol also has a special way of identifying expired drugs so that they wont be sold to customers, with this the medicine counter assistant prepares a manual list of drugs whose demise date falls within a particular course of instruction hence every six months this list is checked for drugs which have their expiry dates closer or already expired. Those almost about to expire are sold faster while those already expired are clear-cut from the shelves and discarded.In todays world it is impossible to compete in the job market without a working knowledge of IT. It is therefore imperative that Medisol Pharmaceutical Company Limited implement and inv est into good arsenal control management system that have the ability to track, report and fill up stock. This will then improve accuracy and enhance safety and capability thereby helping the resale department decrease stock errors.This solution is mean to help the department to manage all transactions of received stocks, price, quantity and invoice. Security of this system will be enhanced, making it impossible for items to be misplaced or stolen. The benefits of the computerized inventory control system to Medisol Pharmaceutical Company ltd. is to make inventory decisions that minimize the total cost of inventory, which is distinctly unlike from minimizing inventory.It is often more expensive to run out of an item (and therefore be forced to obtain it through more expensive channels) than just to keep more units in stock. Several models have been proposed in the belles-lettres for minimizing the total cost of inventory through the use of an economic order quantity, which at tempts to balance the carrying costs of inventory with the cost of running out of an item. Most pharmacy inventory decisions involve replenishmenthow much to order, when to decide to order, and when to place the order.