Tag: Eoq

Studies have shown that implementing systematic inventory management strategies, such as combining Economic Order Quantity (EOQ) and Vital, Essential, Desirable (VED) analysis, can significantly improve efficiency and reduce costs in pharmaceutical distribution. These inventory control models are fundamental for pharmacy professionals to ensure the right amount of medication is available at the right time, balancing financial prudence with patient care.

According to a study comparing pharmacy logistics methods, the Economic Order Quantity (EOQ) is the most effective and efficient method to manage stagnant and shortage drugs in a hospital pharmacy setting. This demonstrates the importance of understanding **what is EOQ in pharmacy** and how it is used to strike a balance between high demand and operational costs.