Abstract
Purpose: In resource limited countries like Nigeria with ever increasing drug needs, it is necessary to apply scientific tools for effective and efficient management of pharmaceuticals in the hospital. This study aims to identify the categories of drugs in Federal Neuro-Psychiatric Hospital (FNPH), Benin City that are available and make recommendation for strict managerial control. Methods: The annual consumption and expenditure incurred for pharmaceuticals from 2014-2018 was analyzed. The ABC, VED and a matrix based on ABC and VED analysis was developed to narrow down the group of items for effective managerial monitoring. Results: The ABC-VED matrix analysis of drugs for 2014, 2015, 2016,2017 and 2018 revealed that category I items which were 21 (20.19%), 26 (21.14%), 27 (19.02%), 27 (18.12%), and 27 (18.49%) respectively consumed NGN18,991,634 (72.21%), NGN28,817,113 (74.22%), NGN37,955,459 (73.76%), 42,562,300, (70.79%), NGN44,430,522 (74.03%) for each year Annual Drug Expenditure respectively. This category which include olanzapine, amitriptyline, carbamazepine, nifedipine, consumables, risperidone, sodium valporate, diazepam, 10% dextrose water, 4.3 % dextrose saline, 5% dextrose saline, biperidine 5mg should have maximum attention and meticulous inventory control. Conclusion: Scientific inventory management tools need to be applied strictly and routinely for category I of the ABC-VED matrix in order to save money for the establishment and reduce out of stock syndrome. Keywords: ABC analysis, VED analysis, ABC-VED matrix, Category I, Inventory Analysis, Pharmacoeconomics
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