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Completing regular and annual stock checks

Published
Topics: ProcurementTrusts

Emphasising the value in committing time to robust stock management processes

This article forms part of a series
  1. Managing medicines inventory
    1. Understanding principles of medicines inventory management
    2. Completing regular and annual stock checks
    3. Reconciling stock in automated storage systems
    4. Monitoring slow moving stock and rarely used medicines
    5. Managing high value medicines
    6. Managing stock of critical medicines
    7. Managing high frequency order lines
    8. Managing expired stock and decommissioned products

Using our advice

Refer to the first article in this series, Managing medicines inventory (SPS page), if you have not done so already.

The actions discussed are viewed as best practice, but none are mandated by SPS regional pharmacy procurement leads.

Regular stock checks

Most pharmacy systems will have a basic stock checking function to support regular stock checks. Stock checks would be completed daily or weekly. A list of random products with their stock levels is checked for accuracy in each location.

Many trusts will run this model of inventory management as it is compliant with most audit requirements. An agreed number of lines checked per day ensures all medicines have been counted an agreed number of times in a 12-month period. The stock check is completed either at the start or the end of the working day, when there is little to no movement of stock.

Some pharmacy systems can be configured to count high cost products and or critical medicines on a more regular basis such as four or six times a year to help minimise financial risk by identifying discrepancies sooner and supporting patient safety.

This stock check can be resource intensive but provides assurance of accurate stock.

Annual stock checks

Pharmacy systems will have the same facility for daily stock checks that can be configured for all medicines. This is used when there is the physical movement of large storage areas, for example during refurbishment works, or the installation of automated storage systems.

Annual stock checks can sometimes be an audit requirement but will only ensure stock is accurate once over the year. From an operational perspective, stock checking should be performed when there is little stock movement. Normally outside of normal working hours or at weekends, depending on local service times. Therefore, time available to investigate large quantities of discrepancies is restricted.

From a resource perspective, departments that run annual stock checks generally require large numbers of staff to work outside of normal working hours.