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Module 10

Section 1: Purchasing: Factors affecting price

QuestionAnswer
From whom do most pharmacy departments place orders with on a daily basis? Their main wholesaler (prime vendor)
What is the advantage of minimizing the number of wholesaler orders? Minimizing the number of orders improves efficiency because ordering stock and checking it in takes time and effort.
What is the advantage of buying directly from the manufacturer? Decreased costs for the pharmacy.
What are disadvantages of buying medications directly from the manufacturer? Requires large quantities to be purchased at one time Can take several days or more to arrive
Four factors influencing stock size ordered How fast the product sells How much time elapses between ordering and delivery How much product must be purchased to get a good price How important it is to avoid running out of stock
Factors to consider when choosing a container size to order Larger-size containers (500-and 1,000-count bottles) have a lower per unit cost than smaller container (100-count bottles). A slow rate of use may cancel out the advantage of the discount.
Advantage of stocking generics when they are available. The more generics dispensed, the smaller the quantity of branded products carried in inventory which lowers inventory cost.
What is the function of a group purchasing organization (GPO)? A GPO ensures that a group of pharmacies gets the best price through vendor discounts and allows for bulk buying power.
Why do manufacturers provide rebates t wholesalers? To boost sales and encourage their medications to become preferred on the formulary.
How does the wholesaler qualify for rebates provided by manufacturer? By meeting minimum purchase requirements
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