What is the goal of effective inventory management in pharmacy settings?

Effective inventory management in pharmacy settings primarily aims to ensure that medications and supplies are readily available for patients when needed, while also being mindful of cost efficiency. This goal encompasses several critical aspects, including maintaining adequate stock levels, minimizing stockouts, and reducing excess inventory, which can lead to waste and increased costs.

By having the right drugs available at the right time, pharmacies can ensure they meet patient needs and fulfill prescriptions promptly, enhancing patient care and satisfaction. Additionally, effective inventory management helps control costs by making sure that the pharmacy is not overstocking items that may expire before use or understocking essential medications, which can lead to interruptions in patient treatment.

Other options such as developing closed formularies or increasing the use of wholesalers focus on specific policies or practices within pharmacy management but do not encapsulate the broader and essential goal of ensuring drug availability and efficiency in pricing. Maintaining MSDS sheets, while important from a safety and compliance standpoint, is a specific aspect of inventory management rather than its overall goal. Thus, the emphasis on availability and cost makes the first choice the most relevant to effective inventory management in pharmacy settings.