Multi Unit Selective Inventory Control- A Three Dimensional Approach (MUSIC -3D)

V.R. Girija; M.S. Bhat

V.R. Girija Asst. Professor, Deccan School of Management, Dept. of Hospital Management, Hyderabad, India
M.S. Bhat Head & Professor, Department of E.I.E, CVR College of Engineering, Ibrahimpatnam, Hyderabad, India

Abstract

Materials contribute to a major cost factor in any enterprise. In health care institutions about 40 percent of the budgetary allocation is on procurement and management of stores. It includes all activities of stores from the stage of forecasting, utilization to final disposal. Stores management to be effective and efficient should aim to optimize the available resources. Modern day health care institutions are multifaceted and multidimensional dynamic organizations. In the integrated and complex role of a hospital, the stores have a pivotal function. The stores management in a hospital covers from simple house-keeping materials to vital life-saving drugs. In the present study MUSIC -3D (Multi Unit Selective Inventory Control- A Three Dimensional Approach) analysis of pharmacy drugs is performed at two multispecialty hospitals in Hyderabad. The study is based on the secondary data collected from the records of the pharmacy stores from both the hospitals, as well as informal interviews with pharmacists, doctors and nurses.MUSIC-3D analysis for pharmacy drugs is conducted on the basis of ABC, VED and SDE analysis.