Assessing Inventory Management Indicators in Chain Pharmacy Stores: An Importance – Performance Analysis
Issued Date
2024-01-01
Resource Type
eISSN
26023199
Scopus ID
2-s2.0-85205571212
Journal Title
Eurasia Proceedings of Science, Technology, Engineering and Mathematics
Volume
28
Start Page
141
End Page
147
Rights Holder(s)
SCOPUS
Bibliographic Citation
Eurasia Proceedings of Science, Technology, Engineering and Mathematics Vol.28 (2024) , 141-147
Suggested Citation
Pentrakan A., Srinon R. Assessing Inventory Management Indicators in Chain Pharmacy Stores: An Importance – Performance Analysis. Eurasia Proceedings of Science, Technology, Engineering and Mathematics Vol.28 (2024) , 141-147. 147. doi:10.55549/epstem.1519401 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/101580
Title
Assessing Inventory Management Indicators in Chain Pharmacy Stores: An Importance – Performance Analysis
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Abstract
Effective inventory management is essential for the successful operation of chain pharmacy stores. As an integral component of chain management, its purpose is to oversee the movement of products from manufacturers to warehouses, and ultimately to patients. This study aims to investigate 13 key performance indicators sourced from a comprehensive literature review on inventory management. The primary objectives include analyzing the relationships among these indicators and evaluating their relative importance. The research adopts a qualitative approach, employing survey as the chosen method. The study participants are comprised of 18 managers or branch heads affiliated with chain drug stores in Thailand. The research employs the Importance Performance Analysis (IPA) tool to interpret the findings, with the objective of enhancing work quality. From the results obtained, the summary indicates a need to assess the indicators presently utilized in managing chain stores and to identify additional areas for performance enhancement. The results highlight specific areas requiring attention due to their high importance coupled with suboptimal performance. These areas include monthly stock adjustment and product shortages. Conversely, the study reveals aspects where managers excel and are considered significant, such as safety stock, inventory turnover, product availability, replenishment frequency, and Items on shelf. Additionally, our study involves acknowledging the significance of existing indicators in guiding store management practices while also recognizing the necessity of addressing logistics supplementary issues to develop overall performance.