Supply Chain Management main glossary
This is a glossary of key terms used throughout the site.
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Active pharmaceutical ingredient
An Active Pharmaceutical Ingredient (API) is any substance used in the manufacture of a pharmaceutical dosage form or finished pharmaceutical product. The API is the key ingredient in the formulation which provides pharmacological activity or therapeutic effect in the diagnosis, treatment or prevention of disease.
Aircon storage refers to facilities or containers where medicines or health products are stored below a certain temperature with the help of airconditioning. The temperature range is normally under 23° C. Aircon storage contrasts with cold storage where temperature stays between 2 - 8 ° C or with ambient storage where products are stored at room temperature.
Allopathic medicine refers to the mainstream system of medical practice in Western countries. Also called Western medicine, bio-medicine, evidence-based medicine or modern medicine.
Ambient storage refers to facilities or containers where medicines or health products are stored at room temperature. Ambient storage contrasts with cold storage where temperature stays between 2 - 8 ° C or with aircon storage where products are stored under 23° C.
An audit is an independent, objective inspection of an organisation's accounts and statutes or performance, designed to add value and improve an organization’s operations, effectiveness of risk management, control and governance processes.
A regulatory audit will obtain independent verification of financial and other information reported to regulators. A performance audit is concerned with relevance, economy, efficiency and effectiveness. Internal auditing provides an assessment of internal controls undertaken by a unit reporting to management while external auditing is conducted by an independent organization.
Average monthly consumption
The average monthly consumption (AMC), also known as average monthly use is a measure of how much a consumable product, such as a medicine, has been used on average per month. It is calculated by dividing the total annual consumption of a medicine by the number of months in stock.