Material Management System

Question 1

to ensure that services are rendered successfully from one source to an end user

Answer 1

Material Management System

Question 2

manages
the supply of materials and monitors where and
who uses these materials

Answer 2

Central Supply Unit

Question 3

monitors expenses for the supplies and materials in collaboration with the Accounting Unit

Answer 3

Procurement Process/Purchasing Unit

Question 4

manage functions like purchasing, accounting, inventory management, and patient supply charges

Answer 4

Material Management Information System

Question 5

the process of procuring something

Answer 5

Purchasing

Question 6

indicates all materials needed to be purchased

Answer 6

Purchase Request

Question 7

material brand must not be indicated

Answer 7

kapag government

Question 8

purchase request must include:

Answer 8

specifications, delivery date, calibration certification, warranty, control number, origin of materials

Question 9

member suppliers may bid for the pricing/quotation of requested materials once the purchase request is posted in the system of the Procurement Unit

Answer 9

Purchase Quotation

Question 10

ssued by the Procurement Unit for to be handed to suppliers for the sake of finally purchasing the materials

Answer 10

Purchase Order

Question 11

sent out once purchasing unit has chosen a supplier

Answer 11

Notice of Award

Question 12

this is issued when after the purchase order was handed to the supplier; supplier will then schedule the preparation and delivery of bought materials

Answer 12

Goods Receipt PO

Question 13

thisisgiventothe Procurement Unit and end users once purchased materials are acquired

Answer 13

A/PInvoice/SalesInvoice

Question 14

is issued when purchased materials are only partially delivered

Answer 14

Delivery Receipt

Question 15

issued when the purchase is complete; Procurement Unit will inform Accounting about the payment for processing

Answer 15

Outgoing Payment

Question 16

important part in refining the quality of health care services since lives of people are on the line and medical costs are increasing

Answer 16

Inventory Control

Question 17

one of the biggest expenses for most medical institutions (Johnston, 2014)

Answer 17

inventory

Question 18

Strategies in Improving Inventory Control

Answer 18

ensuring shipment accuracy
aligning with sales projections
complying with regulations
establishing buying cycles

Question 19

return of damaged goods

Answer 19

Item Indents and Issues

Question 20

minimum quantity of an item that a company has in stock;

Answer 20

Reorder Level

Question 21

once this level is reached supply must be restocked/reordered

Answer 21

Reorder Level

Question 22

representative of a stock level that prompts a reorder

Answer 22

Min value

Question 23

representative of a new targeted stock level that follows the reorder.

Answer 23

max value

Question 24

starting point of a sale or purchase process (book)
* getting information from suppliers of the materials to be purchased (may be about availability of items, specification details, etc.)

Answer 24

Enquiries

Question 25

consists of various pieces of vital information of a requirement towards a sale/purchase

Answer 25

Quotations

Question 26

documents given by suppliers to show their available supplies and materials depending on their enquiry (including delivery details, payment terms, and different information abt the enquiry)

Answer 26

Quotations

Question 27

a stated intention, either spoken or written, to engage in a commercial transaction for specific products/services

Answer 27

purchase order

Question 28

a document produced by the Purchasing Unit regarding the chosen and required item to be purchased (book: it expresses the intention to buy)

Answer 28

purchase order

Question 29

indicate the preparation of purchased supplies (book: it expresses the intention to sell)

Answer 29

sales order

Question 30

commercial document issued by a seller to the buyer/end user, indicating the products, quantities, and agreed prices for products/ services provided by the buyer to the seller (book)

Answer 30

Invoice/Bill

Question 31

statutory requirements to enable smooth transition of the process involved in successfully completing a sale/purchase

Answer 31

Documents

Question 32

ex of Documents

Answer 32

includes Mayor’s permit. BIR permit, etc.

Question 33

usually indicates the requirements for suppliers to bid or sell their items/services to medical institutions

Answer 33

documents

Question 34

a document for requesting prices and delivery information from a vendor before the purchase order; involves specifications and delivery details of purchased items

Answer 34

Purchase Quotations

Question 35

vendors from whom inventory items are usually purchased; those sellers/ supplies with fully licensed, insured, good after sales services, good business practices

Answer 35

Preferred Vendors

Question 36

a document that notifies the purchasing department that certain items or services need to be replenished; created by an originator (book)

Answer 36

Purchase Request

Question 37

document which records a business transaction between the buyer and the seller; created by an originator (book)

Answer 37

Purchase Orders

Question 38

a legally binding contract which shows that the seller has already accepted the order issued by the buyer

Answer 38

Approval Process

Question 39

during the receiving process, the _______ takes physical possession and legal ownership of the shipment

Answer 39

receiving department; Record retention

Question 40

it is important for the supplier to provide the department with a packing list for all shipments delivered to the department

Answer 40

Record Retention

Question 41

after _____ a representative will conduct an external checking/ inspection of________ and ______ in the sales invoice

Answer 41

1-2 days; serial no. and property no.

Question 42

departments should contact the appropriate _______whenever a purchase is received as a partial delivery without acknowledgment or notification from the supplier (book)

Answer 42

Purchasing Agent

Question 43

tracking and monitoring of purchased items using ___ and ____

Answer 43

serial no. and/or batch no.

Question 44

for temporary movement

Answer 44

Returnable gate pass

Question 45

for permanent movement

Answer 45

Non-returnable Gate Pass

Question 46

If an equipment is taken out of the premises of a company that bought it, the supplier should have a _____

Answer 46

gate pass

Question 47

Equipment will be repaired and returned once finished

Answer 47

returnable gate pass

Question 48

Equipment will be replaced to a new equipment under the warranty

Answer 48

non -returnable

Question 49

reaching their expiration dates, some goods, such as food, and medicine, can no longer be utilized

Answer 49

Expired Stock/Inventory

Question 50

When undecided about how to handle defective goods, a quarantine location or warehouse can be used to temporarily house them until a final decision has been reached

Answer 50

Quarantine Stock/Inventory

Question 51

production — “move rejected item to quarantine” * inbound inspection * outbound inspection (book)

Answer 51

Quarantine Stock/Inventory

Question 52

______ of hospital charges are attributable to diagnostics, drugs, and consumables * and doctors get only between _____

Answer 52

30-50% ; 10-20%

Question 53

Inventory items are sold in the order they are purchased ➔ Most common technique

Answer 53

First In, First Out (FIFO)

Question 54

what are the issue methods

Answer 54

FIFO, LIFO, FEFO

Question 55

last to enter the system are sold first; common among non-perishable items like petroleum, minerals, metals

Answer 55

Last In, First Out (LIFO)

Question 56

materials are sold based on the date they should be consumed, regardless of when it was purchased

Answer 56

First Expired, First Out (FEFO)

Question 57

taxes that an usually be processed while posting documents are:

Answer 57

* Tax on sales and purchases * additional taxes like VAT * sales and use tax USA * withholding tax like income tax in India

Question 58

a process where a business physically counts its entire inventory

Answer 58

Inventory Count

Question 59

(with the help of Accounting and Procurement Unit) is assigned dahil sila yung most involved sa transactions of purchased materials;

Answer 59

Central Supply department

Question 60

Inventory is done ______ (depending on how fast supplies are used in a department)

Answer 60

every six months/annually

Question 61

tactics to minimize disruption caused by physical inventory:

Answer 61

* inventory services provide labor and automation to quickly count inventory and minimize shutdown time * inventory control system software can speed up the physical inventory process * a perpetual inventory system tracks the receipt and use of inventory, and calculates the quantity on hand * cycle counting may be less disruptive

Question 62

can speed up the physical inventory process

Answer 62

inventory control system software

Question 63

tracks the receipt and use of inventory, and calculates the quantity on hand

Answer 63

perpetual inventory system

Question 64

may be less disruptive

Answer 64

cycle counting

Question 65

Important part in refining the quality of health care services since lives of people are on the line and medical costs are increasing

Answer 65

inventory control