Pharmacy Inventory Management 3

Question 1

A pharmacy's turnover rate for a medication is 12 per year. What does this indicate?

Accepted Answer

The entire stock of that drug is sold and replaced approximately once per month

Answer

A turnover rate of 12 means the inventory for that item is completely sold and restocked about once per month (every 30 days).

Question 2

Which of the following is required when returning Schedule II controlled substances to a DEA-registered reverse distributor?

Accepted Answer

DEA Form 222

Answer

DEA Form 222 (or CSOS) is required when transferring Schedule II controlled substances to a reverse distributor for destruction.

Question 3

What is 'shrinkage' in pharmacy inventory management?

Accepted Answer

Unexplained loss of inventory due to theft, diversion, or error

Answer

Shrinkage refers to unexplained inventory losses that may result from theft, diversion, administrative errors, or damage.

Question 4

A pharmacy wants to reduce carrying costs. Which strategy is MOST effective?

Accepted Answer

Implement just-in-time (JIT) ordering

Answer

Just-in-time ordering minimizes inventory held on hand, directly reducing storage, insurance, and obsolescence costs.

Question 5

Which form must be completed within 1 business day when a pharmacy discovers a theft or significant loss of Schedule II controlled substances?

Accepted Answer

DEA Form 106

Answer

DEA Form 106 must be filed within 1 business day of discovering a theft or significant loss of controlled substances.

Pharmacy Practice Test