By Jerry Siegel, PharmD, FASHP, and Michael McCarrell, MBA 

THERE ARE TWO BASIC PRINCIPLES OF PHARMACEUTICAL INVENTORY management:

 -Provide appropriate levels of formulary medications to assure ready access.

 -Limit medication variety and volume to maintain security and control over the supply.

Some of the biggest and most common challenges in inventory management are the manufacturer’s back order and inevitable drug shortages, of which we have had about 150 in the past year.

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