SURCHACE INVENTORY CONTROLPURCHASE & INVENTORY CONTROL » Inventory value depends upon distance from the source of supply storage facilities rate at which the turnover of the inventory takes place purchase: an act of obtainingarticle by making payments in terms of money or its equivalent, to buy for a price inventory: itemized list of goods with their estimated worth, specifically annual account of stock taken in any business. control: as an act of exercise. directing, guiding or retaining power overPURCHASE & INVENTORY CONTROL Role of a purchase officer in drug procurement « This function is parttime & handled by administrator + store keeper (registered pharmacist) « In large hospitals—full time work -2-3 persons r required « Duties: » issuing purchase order Maintaining purchase records « Follow upon the orders which r delayed » Framing & executing competitive bidding procedure Obtaining quotations from specified sources