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edited by AIFA’s Office of Osmed and HTA

Glossary


STOCK-TAKING
Management of medicine stocks in a hospital or any other step of a delivery chain. Good distribution practices suggest the following principles for stock-taking:  Periodic stock reconciliation should be performed by comparing the actual and recorded stocks.  All significant stock discrepancies should be investigated as a check against inadvertent mix-ups and/or incorrect issue.  FEFO (First Expiry/First Out): A distribution procedure that ensures the stock with the earliest expiry date is distributed and/or used before an identical stock item with a later expiry date is distributed and/or used; EEFO (Earliest Expiry/First Out) shall have a similar meaning.  FIFO (First In/First Out): A distribution procedure to ensure that the oldest stock is distributed and/or utilised before a newer and identical stock item is distributed and/or utilised.
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