Detailed Report: Medical Outlet Stock Control and Inventory Management

This project report focuses on the control of stocks and supplies within a medical outlet. It outlines the adoption of specific models and processes for inventory management and maintaining minimum stock levels to ensure smooth business operations. The report details the creation of stock cards for each inventory item, tracking stock movements based on requisition orders. It also covers the process of placing orders when stock levels fall below the minimum threshold and concludes with recording the value of stock on hand. The report includes detailed stock cards for items like Microshield handwash, Reflex copy paper, Aloe Vera Green Powder, Cotton Gloves, N-Dex Nitrile Gloves, Kling Gauze Bandages, Adler aspirating Syringes, Superdent Disposal plastic syrings, HUG Baby Wipes, LIV Gauze Swabs, Gauze Swabs, slimline Multifold paper towel, LIV paper towel, Envelops, and chart card, illustrating the in-out flow of stock and balance calculations. The report also discusses the concept of minimum order quantity in relation to the inventory management systems adopted.

MEDICAL RECEPTION
STOCK

INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1: Completing stock cards for each item of Inventory and record the movement of stock on
the stock cards from requisition orders..................................................................................1
TASK 2............................................................................................................................................8
2.1: Completed order for items that drop below the minimum stock level............................8
TASK 3..........................................................................................................................................13
3.1: Recording the value of stock on hand on the stock cards you completed in Task 1.....13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
This project report is made on Controlling stocks and supplies of a medical Outlet. For
the management of the inventory and meeting the minimum inventory level requirement the
business has adopted certain models and process. It is very significant for every business to
control the levels of inventory in the organisation and the maintain the levels of stock in the
Business so that the operations of the company are not hindered and the goods are provided to
the consumers as and when the demand arises.
This project report has shown the preparation of completed stock cards for the each item
that is in the inventory and recording the movement of stocks on the inventory cards from the
orders of reacquisition. This report also discussed about Completed order for items that drop
below the minimum inventory level required by the company. Finally, recording the value of
stock and making an estimation about the inventory Amount in the accounts of business.
TASK 1
1.1: Completing stock cards for each item of Inventory and record the movement of stock on the
stock cards from requisition orders
Stock Control Card
Item: Microshield
Handwash Max stock 100
Min stock 50
Stock no. 1
Supplier: Livingstone
Date
Requisition
no. In Out Initials Balance
100
15/Aug 1 10 90
1

16/Aug 2 15 75
21/Aug 4 10 65
23/Aug 5 15 50
Reorder 50 100
29/Aug 6 4 96
31/Aug 8 20 76
31/Aug 9 10 66
04/Sep 10 5 61
15/Sep 11 10 51
19/Sep 12 5 46
Reorder 54 100
19/Sep 13 2 98
Stock Control Card
Item: Reflex Copy Paper Max stock 100
Min stock 50
Stock no. 2
Supplier: Livingstone
Date
Requisition
no. In Out Initials Balance
2

100
21/Aug 4 2 98
31/Aug 8 5 93
19/Sep 12 5 88
19/Sep 13 3 85
Stock Control Card
Item: Aloe Vera Green Powder-
Free Gloves Max stock 50
Min stock 10
Stock no. 3
Supplier: Livingstone
Date
Requisition
no. In Out Initials Balance
50
16/Aug 2 10 40
15/Sep 11 10 30
Stock Control Card
Item: Cotton Gloves Max stock 100
Min stock 50
3

Stock no. 4
Supplier: Livingstone
Date
Requisition
no. In Out Initials Balance
100
15/Aug 1 10 90
31/Aug 8 20 70
Stock Control Card
Item: N-Dex Nitrile Gloves Max stock 50
Min stock 10
Stock no. 5
Supplier: Livingstone
Date
Requisition
no. In Out Initials Balance
50
29/Aug 6 5 45
31/Aug 8 10 35
31/Aug 9 10 25
Stock Control Card
4

Item: Kling Gauze Bandages 10.2
x 332.7 cm Max stock 100
Min stock 50
Stock no. 6
Supplier: Livingstone
Date
Requisition
no. In Out Initials Balance
100
21/Aug 3 20 80
31/Aug 8 20 60
15/Sep 11 10 50
15/Sep Reorder 50 100
Stock Control Card
Stock Control Card
item:
Adler Standard
aspirating
Syringes Min stock 5
Stock no: 7 Max stock 10
Supplier Vitalmed
Date Requisition no. In Out Initials Balance
5

10
31/Aug 7 5 5
Re order 5 10
15 sept 11 3 7
Stock Control Card
Item: Superdent Disposal plastic syrings Max stock 25 bags
Min stock 10 Bags
Stock no. 8
Supplier: living stone
Date Requisition no. In Out Initials Balance
25
21/Aug 3 5 20
23/Aug 5 10 10
Re-order 15 25
04/Sep 10 5 20
Stock Control Card
item:
HUG Baby Wipes
UN-scented Min stock 50
stock no: 9 Max stock 100
6

supplier Livingstone
Date Requisition no. In Out Initials Balance
100
15/Aug 1 5 95
31/Aug 8 20 75
15 Sept 11 20 55
19 Sept 13 10 45
Reorder 55 100
Stock Control Card
item:
LIV Gauze Swabs
5x5 cm x 8 ply Min stock 50
Stock no: 10 Max stock 100
Supplier Livingstone
Date Requisition no. In Out Initials Balance
100
31/Aug 7 20 80
31/Aug 8 10 70
Stock Control Card
7

item:
Gauze Swabs
10x10 cm x 16
Ply Min stock 50
stock no: 11 Max stock 100
supplier Livingstone
Date Requisition no. In Out Initials Balance
100
21/Aug 3 10 90
15/Sep 11 25 65
8

Stock Control Card
Item:
slimline
Multifold paper
towel (24*24)
stock no: 12 Min stock 100
Supplier
Kimberley-
Clark Max stock 250
Date
Requisition
no. In Out Initials Balance
250
31/Aug 8 100 150
Stock Control Card
Item:
LIV paper
towel(19*80cm) Min stock 100
stock no: 13 max stock 500
supplier Livingstone
Date Requisition no. In Out Initials Balance
500
16/Aug 2 20 480
21/Aug 4 20 460
29/Aug 6 20 440
9

15/Sep 11 100 340
Stock Control Card
Item: Envelops Min stock 10
stock no: 14 max stock 50
supplier Livingstone
Date Requisition no. In Out Initials Balance
50
31/Aug 8 10 40
19/Sept 12 10 30
Stock Control Card
item: chart card Min stock 10
stock no: 15 max stock 50
supplier
Livingston
e
Date
Requisitio
n no. In Out Initials Balance
50
23/Aug 5 10 40
31/Aug 7 10 30
10

31/Aug 8 20 10
Re order 40 50
15 Sept 11 10 40
19 Sept 12 30 10
19 Sept Re order 40 50
TASK 2
2.1: Completed order for items that drop below the minimum stock level
The stocks of the company are managed using various systems of inventory management.
This project reports is required to discuss the minimum order quantity of the inventory.
Minimum Order quantity: The minimum order quantity is calculated by using
estimated amount of duration, from the start of the production, till the time of the transit of the
products, until the time when the goods are on the shelf, or in the hand of the consumers who
have order the product.
11

12
Inventory manager
Dr Krithopoulos
101120
27-07-2018
50 bottle or 16.5
Boxes
49 bottle or 16.5
Boxes
001 Adler Standard
aspiratingSyringes
(Per box with 6
bottle cost = 150)
Per bottle cost =
150/6 = $25 per
bottle)
$1250
$1225
$25
$25

13
Inventory manager
Dr Krithopoulos
101120
27-07-2018
5 packs 007 Adler Standard
aspirating Syringes
(Cost of per box =
800/2= 400)
From Vitalmed
$2000$400

14
Inventory manager
Dr Krithopoulos
101120
27-07-2018
5 packs 007 Adler Standard
aspirating Syringes
(Cost of per box =
800/2= 400)
From Vitalmed
$2000$400

15
Inventory manager
Dr Krithopoulos
101120
27-07-2018
15 bags 008 Superdent
disposable plastic
syringes
$97.5$6.50