MOD 10

Question 1

a continual process of checking stock levels, rotating stock to ensure freshness, or ordering supplies in sufficient quantities to meet current needs and minimize carrying inventory

Answer 1

Inventory management

Question 2

Inventory check levels:

Answer 2

Perpetual system
Periodic system
Random checks

Question 3

inventory check level; keep account of the inventory each time a product is used

Answer 3

Perpetual system

Question 4

inventory check level; stock level is counted once a week or in a specified time

Answer 4

Periodic system

Question 5

inventory check level; used to document the value of supplies at a specific time

Answer 5

Random checks

Question 6

Stock replenishment techniques:

Answer 6

Minimum-maximum

Just-in-time

Question 7

SRT; establishing a set point (minimum) at which inventory is to be recorded and a “reorder to” maximum level to be maintained

Answer 7

Minimum-maximum

Question 8

SRT; commitment is made by the supplier to guarantee delivery of an item at the exact moment of need

Answer 8

Just-in-time

Question 9

Financial controls of inventory q’s”

Answer 9

• what is the most economic quantity to order, from the pov of financial, storage, and delivery issues?
• How can the institution take advantage of bulk purchase discounts?
• what is the best time to place orders to both limit the amount of financial commitment and s=ensure adequate supplies?

Question 10

Financial controls of inventory calculations:

Answer 10

Economic ordering quantity (EOQ)
Ecomonic ordering point (EOP)
Optimal reorder time (ROT)

Question 11

financial control of inventory; how much to order at one time?

Answer 11

EOQ

Question 12

financal control of inventory; aka “reorder point” provides the safety level for reordering inventory

Answer 12

EOP

Question 13

financial control of inventory; helps us to establish the best time to order to take advantage of the EOQ and EOP

Answer 13

ROT

Question 14

related concepts in calculating inventory; “workload of laboratory”

Answer 14

Annual usage

Question 15

related concepts in calculating inventory; can be obtained by dividing the amount of supplies ordered ina ayear by 365 days

Answer 15

Avergae daily usage

Question 16

related concepts in calculating inventory; dividing the expenses of purchasing section by number of purchase or orders issued

Answer 16

Cost of ordering

Question 17

related concepts in calculating inventory; expense of maintaining a stockroom for storing material not needed immediately

Answer 17

Annual holding cost

Question 18

related concepts in calculating inventory; straight forward calculation once the decision has been made as to best price available

Answer 18

Cost per unit

Question 19

related concepts in calculating inventory; amount of time or advance notice, needed bet placing and order and its arrival

Answer 19

Lead time

Question 20

EOQ formula:

Answer 20

1: 2 x (annual usage x cost of ordering)
2: ans / annual holding cost per unit
3: get the square root of ans

Question 21

EOP formula:

Answer 21

1: annual usage / 365 days
2: ans x lead time in days

Question 22

ROT formula:

Answer 22

1: EOQ / annual usage
2: ans x 365 days

Question 23

traditional procedure of purchasing new equipment:

Answer 23

1- developing a budget
2- Accepting request
3- Voting and prioritizing the request
4- purchasing the highest priority items allowed in the budget

Question 24

committees helping decide for purchase of equipment:

Answer 24

• Technical Evaluation Committee

- Laboratory Advisory Board

Question 25

committees helping decide for purchase of equipment; conducts primary eval of equipment andd techs

Answer 25

TEC- technical eval committee

Question 26

committees helping decide for purchase of equipment; dinal review committee, which takes the recommendations of the TEC for a final vote

Answer 26

LAB- laboratory advisory board

Question 27

Possible appointees to clinical laborator equipment committees:

Answer 27

PICTURE SA PHONE

Question 28

acquisition of previously owned equipment:

Answer 28

- remanufacturing - refurbished or reconditiones - repossessed

Question 29

acquisition of previously owned equipment; the process of the orig equipment manufacturer completely overhauling the equipment and returning it to service as if it were new

Answer 29

Remanufacturing

Question 30

acquisition of previously owned equipment; cleaned and repaired equipment in acceptable working order

Answer 30

Refurbished or reconditioned

Question 31

Precautions for buying pre owned equipments:

Answer 31

- vendor background check - understand the deal - operational status

Question 32

vendor background check:

Answer 32

- no. of yrs business - no. yrs present loc - educ bg - references from current and past clients - license

Question 33

understand the deal:

Answer 33

- price - terms of purchase - service warranty availabilty

Question 34

operational status:

Answer 34

- fully operational - fully op but with preventive maintenancce - completely rebuilt - confirm reliability with last equip user

Question 35

Categories of scheduled maintenance services:

Answer 35

preventive maintenance functional testing, performance verification and calibration Safety inspection

Question 36

Categories of scheduled maintenance services ; periodic procedures to minimize the risk of failure and to ensure continued proper operation

Answer 36

Preventive maintenance

Question 37

Categories of scheduled maintenance services; to verify that the equipment is fully operational

Answer 37

Functional testing, perf veri and calib

Question 38

Categories of scheduled maintenance services; visual inspection for mechanical safety

Answer 38

Safety inspection

Question 39

is a systematic process of overseeing and controlling the acquisition and utilization of supplies to ensure the availabilty of cost-effectiveness

Answer 39

Material management

Question 40

goals of material management:

Answer 40

1-supplies arrive timely manner 2-spoilage is reduced to minimum 3-back orders and delays are avoided 4-storage space is used to best advantage 5-mosty econ advantageous price is obtained 6-financial resources are not tied up in inventory

Question 41

are products that meet specific time and price criteria

Answer 41

supplies

Question 42

2 sections of material management:

Answer 42

Purchasing | Stockroom

Question 43

a section of material management that is responsible for ordering the supplies and processing the invoice from vendors or suppliers

Answer 43

Purchasing

Question 44

a section of material management that maintains the security and inventory levelss; it is also responsible in issuing supplies throuhgout the different depts of hospi

Answer 44

Stockroom

Question 45

Supply ordering process:

Answer 45

``` Purchasing request | Purchase order | Receiving delivery ```

Question 46

represents a commitment by the org to purchase a product or service

Answer 46

Purchase order

Question 47

a catalog of products held in stock by material management

Answer 47

Travelling requisition

Question 48

method of purchase used for products that have a predictbale usage level or short shelf lives and are frequently ordered in adv

Answer 48

Standing orders