Inventory Management System
Inventory Management is a complete Supply Management System that helps control and manage the inventory of medical supplies and assets in a Hospital. It facilitates the receiving, issuing and transferring of supplies to other departments. Inventory Management has the capability to automatically track the stock movement of Medicines, Medical Supplies and Food and alerts the user if some items are near its expiration date.
Inventory Management is a repository of records and movement of Medicines, Medical Supplies, Properties, Plants and Equipment, Food and other goods.
Alert Notification for Items Near Expiry Date
Inventory Management System helps to track Medicines and Medical Supplies by providing an Alert Notification for Items or Goods near expiry date. The system requires the encoding of Expiry Dates of Medicines and Medical Supplies. An Alert Pop-up window will remind users one month before the expiry date to take action to return and replace the items before the expiry date.
Re-Order Point Alert Notification
Re-Order Point (ROP) is a tool that provides information to the Procurement Officer that a Critical Level of an Inventory has been reached that requires replenishment of that particular item or supply. An Alert pop-up is triggered automatically to prod action by the Procurement Officer. ROP is computed based on the formula for the Economic Order Quantity (EOQ). The EOQ (or any other formula that may be used) is computed and loaded into the Supply Ledger of each item or supply.
3-Way Match of Records
3-Way Match is an Accounting process adapted to Inventory Management to ensure that all information across three documents (Purchase Request, Obligation Request and Purchase Order) are matched.
Barcoding and Radio Frequency Identification
Inventory Management has embedded Barcode and Radio Frequency Identification (RFID) technology which aids the Supply Officer to determine stock discrepancy and track the history of each item. The system can create ready to print barcode based on the Property Number of a specific item which can be used for inquiry regarding the details and history of the item. Radio Frequency Identification (RFID) converts the item’s property number into a hexa-code which will be embedded to the tag that can be used for the Physical Verification of the quantity and condition of items. The RFID device generates a spreadsheet file that can be uploaded in the system to convert it to an Inventory Report.
FIFO Method of Inventory
FIFO stands for First-In, First-Out. The FIFO method assumes that the oldest item in the inventory must be the first to be issued out.
Other Components of Inventory Management
Inventory
Inventory manages and monitors the issuance of delivered and accepted Medicines, Medical Supplies, Medical Equipment and Disposal of Items that are beyond economical repair and its useful life. It can be used for real-time access to Hospital’s equipment information such as the Acquired Date, Acquisition Cost, Accountable Person, Responsibility Center and the Item’s status. It can also provide accurate and actual inventory of the Hospital.
Records
Records provides the list of all existing and newly accepted items of the Hospital. It automatically retrieves each item’s status based on the transactions made in the system and displays the information in each item’s Stock Card and Property Card.
Planning
Planning manages the creation of each of the Department’s Project Procurement Management Plan (PPMP) to be consolidated as Annual Procurement Plan (APP). All of the Supplies needed for the succeeding year must be encoded into the system during the Planning stage.
Procurement
Procurement module provides a Systematic Procurement Process that manages the entire procedure for the procurement of Medicines, Medical Supplies and Medical Equipment. It provides a summary of all the Procurements made to easily track its status and current process.
Reports & Queries
Reports and Queries module generates the System’s default reports such as Purchase Request, Purchase Order, Physical Count of Inventories and other reports.
File Maintenance
File Maintenance contains all the pre-requisite Data Tables that are repeatable and displayed in Dropdowns and Checkboxes for Fast Encoding of Records. File Maintenance module has an encoding of Medicines, Medical Supplies and Medical Equipment, List of Suppliers, Units, Master List, Signatories or Department Heads and Responsibility Centers such as Departments and Functions.
