Standard Operating Procedure  for Inventory Management

Purpose

The purpose of this SOP is to establish guidelines for managing inventory levels in the pharmaceutical warehouse, ensuring proper stock rotation and adherence to FIFO principles.

Scope

This SOP applies to all personnel involved in inventory management within the pharmaceutical warehouse.

Responsibilities

• Warehouse Manager: Overall responsibility for inventory management and compliance with SOP.
• Inventory Clerks: Responsible for conducting regular inventory counts and maintaining accurate records.
• Quality Assurance: Responsible for verifying inventory accuracy and adherence to FIFO principles.
• Operations Team: Responsible for implementing stock rotation practices according to FIFO principles.

Procedure

1. Regular Inventory Counts:
   • Conduct physical inventory counts on a regular basis, preferably on a monthly basis.
   • Compare physical counts with electronic records to identify discrepancies.
   • Investigate and resolve any discrepancies promptly.
2. Stock Rotation:
   • Implement FIFO (First In, First Out) principles for all inventory items.
   • Ensure that newly received stock is placed behind existing stock to facilitate rotation.
   • Regularly inspect inventory to identify expired or near-expiry products and prioritize their use or disposal.
3. Inventory Documentation:
   • Maintain accurate and up-to-date inventory records in the electronic database.
   • Record all inventory transactions, including receipts, issues, transfers, and adjustments.
   • Ensure that all documentation is properly reviewed, approved, and archived according to SOP.
4. Inventory Reconciliation:
   • Reconcile physical inventory counts with electronic records to ensure accuracy.
   • Investigate and resolve any discrepancies between physical counts and electronic records.
   • Document all reconciliation efforts and corrective actions taken.

Abbreviations

• FIFO: First In, First Out
• SOP: Standard Operating Procedure

Documents

• Inventory Records
• Reconciliation Reports
• Corrective Action Reports

SOP Version

Version 1.0