Prescription stock management system
Techniques for automatically tracking, ordering, and replenishing prescription item stock are provided. Based upon a statistical analysis of prescription order transactions, rules may be established to selectively identify which prescription stocked items qualify for automatic stock tracking, ordering, and replenishment. The rules may be based upon metrics such as a daily rate at which each prescription item is dispensed over a specified sampling period as well as the cost of each prescription item. Once qualified, automatic replenishment may be facilitated by calculating stock number minimums and maximums using a statistical analysis of the prescription transaction history for qualifying prescription items. The minimum and maximum stock number values may be used to trigger the generation of purchase orders and to specify how much stock needs to be ordered for each qualifying prescription item as it is replenished.
1. A method of performing prescription stock management, comprising:
identifying, by one or more processors, one or more qualifying prescription items from a plurality of prescription items, each qualifying prescription item being dispensed over a sampling period at an average daily dispensing frequency value;
calculating, by one or more processors, for a qualifying prescription item from among the qualifying prescription items, a maximum stocked number;
calculating, by one or more processors, for the qualifying prescription item from among the qualifying prescription items, a minimum stocked number based upon forecasting future demand for the qualifying prescription item;
transmitting, by one or more processors, an order to an external computing device when a stocked number of the qualifying prescription item is less than the minimum stocked number, and
wherein the order, upon being fulfilled, results in a replenishment of the qualifying prescription item such that the stocked number of the qualifying prescription item is greater than the minimum stocked number and up to the maximum stocked number.
2. The method of claim 1 , wherein forecasting future demand for the qualifying prescription item further comprises forecasting future demand based on applying various statistical analyses to transactions of the qualifying prescription item.
3. The method of claim 1 , wherein forecasting future demand for the qualifying prescription item further comprises forecasting future demand based on recent changes in the dispensation rate of the qualifying prescription item.
4. The method of claim 1 , further comprising:
calculating, by one or more processors, a multiple of the average daily dispensing frequency value of the qualifying prescription item; and
calculating, by one or more processors, the maximum stocked number as a sum of (i) the minimum stocked number of the qualifying prescription item, and (ii) the multiple of the average daily dispensing frequency value of the qualifying prescription item.
5. The method of claim 1 wherein forecasting future demand for the qualifying prescription item further comprises calculating, by one or more processors, a multiple of average daily dispensing frequency value of the qualifying prescription item over the sampling period.
6. The method of claim 1 wherein forecasting future demand for the qualifying prescription item further comprises:
receiving, by one or more processors, a number of days associated with highest daily dispensing frequency values within the sampling period for the qualifying prescription item; and
calculating, by one or more processors, a maximum average daily dispensing frequency value by averaging each of the highest daily frequency dispensing values over the number of days.
7. The method of claim 1 , wherein forecasting future demand for the qualifying prescription item further comprises:
receiving, by one or more processors, a number of daily dispensing frequency values within the sampling period for the qualifying prescription item, the number of daily dispensing frequency values corresponding to a top number of occurrences over the sampling period within a threshold variance; and
calculating, by one or more processors, a maximum daily dispensing frequency value by averaging a sum of the daily dispensing frequency values over their number of occurrences within the sampling period.
8. A computing device that facilitates prescription stock management, comprising:
a communication unit configured to receive a history of prescribed prescription item transactions;
a memory configured to store the history of prescribed prescription item transactions; and
a processor configured to:
identify one or more qualifying prescription items from a plurality of prescription items, each qualifying prescription item being dispensed over a sampling period at an average daily dispensing frequency value,
calculate for a qualifying prescription item from among the qualifying prescription items, a maximum stocked number, and
calculate for the qualifying prescription item from among the qualifying prescription items, a minimum stocked number based upon forecasting future demand for the qualifying prescription item,
wherein the communication unit is further configured to transmit an order to an external computing device when a stocked number of the qualifying prescription item is less than the minimum stocked number, and
wherein the order, upon being fulfilled, results in a replenishment of the qualifying prescription item such that the stocked number of the qualifying prescription item is greater than the minimum stocked number and up to the maximum stocked number.
9. The computing device of claim 8 , wherein the processor is further configured to forecast future demand for the qualifying prescription item based on applying various statistical analyses to transactions of the qualifying prescription item.
10. The computing device of claim 8 , wherein the processor is further configured to forecast future demand for the qualifying prescription item based on recent changes in the dispensation rate of the qualifying prescription item.
11. The computing device of claim 8 , wherein the processor is further configured to:
calculate a multiple of the average daily dispensing frequency value of the qualifying prescription item; and
calculate the maximum stocked number as a sum of (i) the minimum stocked number of the qualifying prescription item, and (ii) the multiple of the average daily dispensing frequency value of the qualifying prescription item.
12. The computing device of claim 8 , wherein the processor is further configured to calculate a multiple of average daily dispensing frequency value of the qualifying prescription item over the sampling period.
13. The computing device of claim 8 , wherein the processor is further configured to:
receive a number of days associated with highest daily dispensing frequency values within the sampling period for the qualifying prescription item; and
calculate a maximum average daily dispensing frequency value by averaging each of the highest daily frequency dispensing values over the number of days.
14. The computing device of claim 8 , wherein the processor is further configured to:
receive a number of daily dispensing frequency values within the sampling period for the qualifying prescription item, the number of daily dispensing frequency values corresponding to a top number of occurrences over the sampling period within a threshold variance; and
calculate a maximum daily dispensing frequency value by averaging a sum of the daily dispensing frequency values over their number of occurrences within the sampling period.
15. A non-transitory, tangible computer-readable medium storing machine readable instructions that, when executed by a processor, cause the processor to:
identify one or more qualifying prescription items from a plurality of prescription items, each qualifying prescription item being dispensed over a sampling period at an average daily dispensing frequency value;
calculate for a qualifying prescription item from among the qualifying prescription items, a maximum stocked number;
calculate for the qualifying prescription item from among the qualifying prescription items, a minimum stocked number based upon forecasting future demand for the qualifying prescription item; and
transmit an order to an external computing device when a stocked number of the qualifying prescription item is less than the minimum stocked number,
wherein the order, upon being fulfilled, results in a replenishment of the qualifying prescription item such that the stocked number of the qualifying prescription item is greater than the minimum stocked number and up to the maximum stocked number.
16. The non-transitory, tangible computer-readable medium of claim 15 , further including instructions that, when executed by the processor, cause the processor to forecast future demand for the qualifying prescription item based on applying various statistical analyses to transactions of the qualifying prescription item.
17. The non-transitory, tangible computer-readable medium of claim 15 , further including instructions that, when executed by the processor, cause the processor to forecast future demand for the qualifying prescription item based on recent changes in the dispensation rate of the qualifying prescription item.
18. The non-transitory, tangible computer-readable medium of claim 15 , further including instructions that, when executed by the processor, cause the processor to:
calculate a multiple of the average daily dispensing frequency value of the qualifying prescription item; and
calculate the maximum stocked number as a sum of (i) the minimum stocked number of the qualifying prescription item, and (ii) the multiple of the average daily dispensing frequency value of the qualifying prescription item.
19. The non-transitory, tangible computer-readable medium of claim 15 , further including instructions that, when executed by the processor, cause the processor to calculate a multiple of average daily dispensing frequency value of the qualifying prescription item over the sampling period.
20. The non-transitory, tangible computer-readable medium of claim 15 , further including instructions that, when executed by the processor, cause the processor to:
receive a number of days associated with highest daily dispensing frequency values within the sampling period for the qualifying prescription item; and
calculate a maximum average daily dispensing frequency value by averaging each of the highest daily frequency dispensing values over the number of days.