Pharmacy inventory management software is designed to track orders, monitor the supply and usage of stored medications, and support pharmacist verification and billing. This software specifically focuses on managing drug and medication inventory, not hospital equipment or devices. Pharmacies, clinical trial labs, and healthcare systems can all use this software to more efficiently handle and dispense medications, track retail documentation, and reduce operational costs and medication waste. For improved decision-making on which drugs should be reordered regularly, users can opt for software that integrates easily with utilization management tools. Pharmacy inventory management solutions are available as standalone software or as modules within broader pharmacy management systems. To be categorized as pharmacy inventory management software, a product must: - Record details of each drug stored and dispensed, including cost, lot number, expiration date, and patient name. - Track drug shipments and deliveries. - Centralize inventory data, including drug stock levels, usage trends, and demand forecasting compared to actual usage.
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