Question

List down briefly the various inventory management techniques prevalent in the industry. Discuss how some of these techniques would be applicable to a Medical Store in effective management of their inventories, i.e medical supplies.

Answer 1

The various inventory management techniques prevalent in Medical Store are the supply closet technique and the transaction technique

Explanation:

1. The supply closet technique: In this technique we have to scan the items from the supply closet and use them to stock examination rooms. The items are counted as dispensed once they leave the closet. Through this approach we can know how much we will need for that day or week and scan the amount.
2. The Transaction technique: The Transaction technique provide detailed real-time data about inventory use and patterns. Through this technique we can scan out items when they are actually used for patients.

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