Deck 26: Inventory Control

Question 1

Inventory of controlled substances must be taken every

A) week
B) month
C) year
D) two years

Answer 1

two years

Question 2

What is the purpose of formularies?

A) to eliminate therapeutic effect
B) to increase therapeutic cost
C) to eliminate duplication
D) to provide prescribers with a list of drugs that may have longer half-lives

Answer 2

to eliminate duplication

Question 3

It is important to stock items according to their

A) specific storage requirements
B) specific uses
C) specific package sizes
D) hazardous potential

Answer 3

specific storage requirements

Question 4

Which of the following is the simplest and most widely used method of inventory control?

A) computer system
B) want book system
C) point-of-sale master
D) perpetual inventory system

Question 5

For the period of January through June, a pharmacy had a beginning inventory of 312 products and an ending inventory of 336 products. Which of the following is the average inventory for this 6-month period?

A) 24
B) 128
C) 286
D) 324

Question 6

Which of the following systems is an example of a reorder point system ?

A) computerized inventory system
B) order book system
C) economic order quantity/economic order value system
D) minimum/maximum level system

Question 7

Which of the following is not a type of inventory management system?

A) order book system
B) computerized inventory system
C) automated dispensing system
D) point-of-sale system

Question 8

When specific stock reorder points are reached, they trigger the

A) pharmacy technician to manually reorder
B) computer to automatically reorder
C) alert that tells the pharmacist to reorder
D) pharmacist to call the stock market

Question 9

Most automated dispensing systems comply with both the

A) FDA and DEA
B) HIPAA and Joint Commission
C) HD and DEA
D) FDA and HIPAA

Question 10

A list of drugs and devices that routinely need to be reordered is called a

A) master book
B) documentation book
C) vital book
D) want book

Question 11

A list of articles in stock, with the description and quantity of each, is referred to as a(n)

A) want book
B) inventory
C) point-of-sale
D) invoice

Question 12

Which of the following are used to most easily determine each received item and its associated information?

A) purchase orders
B) inventory
C) bar codes
D) invoices

Question 13

If controlled substances have been ordered, they should be received into the pharmacy by a

A) pharmacy technician
B) pharmacist
C) pharmacy manager
D) pharmacy director

Question 14

The formula of adding the beginning inventory for a period to the ending inventory for a period and dividing by two is for calculating

A) average inventory
B) average cost
C) average point-of-sale
D) inventory errors

Question 15

Which of the following is NOT an advantage of automated dispensing systems?

A) small space requirements
B) fast and accurate counting
C) unit-dose packaging
D) cheaper

Question 16

Which of the following is the most suitable, flexible, and open-ended system on the market that can be installed in all of the computers in the main pharmacy?

A) computerized inventory system
B) point-of-sale master
C) drug formulary software
D) automated dispensing system

Question 17

Which of the following is NOT one of the three types of formulary systems?

A) restricted formulary
B) pediatric formulary
C) open formulary
D) closed formulary

Question 18

The perpetual inventory is a written record of the amount of controlled substances for which of the following drug schedules?

A) II
B) III
C) IV
D) V

Question 19

The stock of medications a pharmacy keeps immediately on hand is called a(n)

A) receiving report
B) dispensing system
C) point-of-sale master
D) inventory

Question 20

Most drug products are received in the pharmacy in

A) bulk powder formulations
B) unit-dose packaging
C) bulk "stock" bottles
D) blister packs

Question 21

Which class of drug recalls is considered most dangerous, and may cause serious health problems or death?

A) Class I
B) Class II
C) Class III
D) Class IV

Question 22

The medication master file contains all of the information needed for

A) ordering
B) inventory
C) pricing
D) all of the above

Question 23

What is true concerning unit-of-use packaging?

A) It increases the cost of medication-related activities.
B) It is suitable only for inpatient pharmacies.
C) It will allow pharmacists to prepare medications before they are needed.
D) It may increase the staffing demands during peak activity.

Question 24

Expired compounded pharmaceuticals must be

A) returned
B) disposed of
C) repackaged
D) sold immediately

Question 25

An example of a want book would be a

A) spiral-bound notebook in which order stickers may be placed
B) computer program that keeps a perpetual inventory
C) handheld electronic device in which item numbers can be entered
D) both a and c

Question 26

A Class III recall is for products that may

A) cause moderate injury
B) cause minor or slight discomfort
C) cause death or permanent disability
D) violate FDA labeling or manufacturing

Question 27

Repackaged pharmaceuticals that are expired should be

A) placed back onto the shelf until used
B) returned to the drug manufacturer or supplier for credit
C) placed in a separate area until they can be properly disposed of
D) dispensed as quickly as possible to a patient

Question 28

Disposal requirements for most drugs that have an expiration date are listed in the package inserts on a(n) ____________________________________.

Question 29

Inventory control is closely associated with the function of

A) dispensing
B) purchasing
C) compounding
D) maintenance

Question 30

What is NOT true concerning the use of a point-of-sale (POS) master?

A) It can increase overall profitability in a pharmacy.
B) it can control inventory and stock in a pharmacy.
C) It can be used to check for therapeutic duplications in a drug regimen.
D) It is easy to use.

Question 31

Bar coding saves

A) dollars
B) time
C) lives
D) all of the above

Question 32

The purpose of drug formularies is to

A) increase selection of items that may be prescribed
B) eliminate therapeutic duplication and save costs
C) increase profits of drug manufacturers
D) increase inventory size

Question 33

Which organization has helped direct the implementation of bar coding in pharmacy?

A) Drug Enforcement Administration (DEA)
B) Food and Drug Administration (FDA)
C) Centers for Disease Control (CDC)
D) Institute for Safe Medication Practices (ISMP)

Question 34

A pharmacy has purchased 550 products over a period of 3 months. If their average inventory was 235 products in a 3-month period, their inventory turnover rate for this period is

A) 1.56
B) 2.34
C) 3.14
D) 4.75

Question 35

A restricted formulary is a mixture of both __________ and __________ formularies.

Question 36

What is false about inventory and control systems in pharmacy today?

A) Most pharmacies utilize computers rather than manual systems.
B) Manual systems are less expensive to use than computerized systems.
C) Manual systems usually keep a perpetual inventory.
D) Computerized systems generate more data.

Question 37

Products that may be recalled directly by the FDA without requesting the manufacturer to do so includes

A) soap or detergents
B) medical devices
C) makeup
D) infant car seats

Question 38

Regarding inventory, an estimated count must be done for which drug schedules?

A) I
B) II and III
C) III and IV
D) III to V

Question 39

Which drug recall level may cause serious harm or death?

A) Class I
B) Class II
C) Class III
D) Class IV

Question 40

The real advantage of computerized inventory control systems is

A) time saving
B) expense
C) space
D) paper printouts

Question 41

Perpetual inventory systems allow the pharmacist to review drug use __________, allowing better monitoring of all information.

Question 42

Formularies are revised every __________.

Question 43

____________ are usually used to easily determine each received item and its associated information.

Question 44

Perpetual inventory systems allow monthly drug use __________.

Question 45

The repackaging of a specific dosage and dosage form of a medication at a given time is called ____________________.

Question 46

Pharmacists or technicians record product names or item numbers and quantities to be ordered in the ____________ as items are sold or dispensed.

Question 47

The two goals of effective inventory control are minimizing total inventory investment and carrying the right mix of products to __________ patient demand.

Question 48

The process of pharmacy ordering is usually done via __________.

Question 49

The Economic Order Quantity/Economic Order Value system minimizes __________ inventory costs.

Question 50

Total ordering costs equal the number of orders multiplied by the cost per __________.

Question 51

The traditional purchasing and inventory control system does not involve ____________, and it is considered old-fashioned.

Question 52

Placing a code on packaging to help standardize and regulate inventory control is called ____________.

Question 53

A document showing received items that matches the purchase order exactly is called a(n) ___________ report.

Question 54

The basis of the computerized purchasing and control system is the ____________ database.

Question 55

Consigned inventory means products that are shipped by the ______________ to be sold in the pharmacy but are actually still owned by the______________ and are not purchased outright by the pharmacy.

Question 56

A want book is a list of items that the pharmacy needs to __________.

Question 57

Each drug product should be stocked in such a way that the __________ items are taken from stock first.

Question 58

Today, the want book is more likely to be a handheld ____________ device into which item numbers and quantities are ____________.

Question 59

The point-of-sale master can __________ overall profitability, and it can be installed in all of the computers at the main pharmacy.

Question 60

Total ordering costs equal the number of orders multiplied by the __________ per order.

Question 62

Identify two key components of a modern record-keeping system.

Question 63

What is the average cost method?

Question 64

Explain inventory management.

Question 65

What is "point-of-sale"?

Question 66

What are the four basic functions of drug packages?

Question 67

What improvements can be seen with the use of bar coding? What is one of the limitations of using bar codes?

Question 68

Explain what a "want book" system of ordering is. What specific information do you need to know about each item prior to ordering?

Question 69

Explain how a colored or dated price sticker system would work.

Question 70

What are two goals of effective inventory control? What is one way pharmacies can achieve these goals?

Question 71

Describe the effects of an automated dispensing system.

Question 72

Drug formularies can effectively eliminate therapeutic duplication and provide effective drugs at the lowest cost. However, what are the ethical questions raised with the use of restrictive formularies?

Question 73

Describe the relationship of a drug formulary with the inventory control process.