Supply Chain Management main glossary


This is a glossary of key terms used throughout the site.

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M

M&E plan

A monitoring and evaluation plan is a comprehensive planning document for all monitoring and evaluation activities within a program. This plan documents the key M&E questions to be addressed: what indicators will be chosen, how often and where will the data be collected, what are the baseline values and what will be the targets values, how will the data be analysed and interpreted, and to whom and how often will reports be developed and distributed.

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Marketing authorization

Marketing authorization (registration/product license) is granted once the safety, efficacy and quality of a medicine has been established by the National Regulatory Authority (NRA).

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Maximum reorder level

The maximum reorder level is the level above which inventory levels should not exceed. This level is determined by the product shelf-life, amount of capital available, space, possibility of loss, cost of maintenance (stores), and fluctuation in prices and seasonality.

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Metric

The precise calculation or formula that provides the value of an indicator.

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Minimum reorder level

The minimum reorder level (MRL) is the minimum stock quantity that should be available at all times and indicates when a request for additional stock must be placed. It is also known as re-order point and triggers an action by the store personnel to submit a requisition to replenish the stock. The MRL is usually determined based on consumption pattern and lead time. 

MRL = (Average monthly consumption * lead time in months) + buffer stock

If you use lead time in weeks, then your average consumption should also be in weeks. 

 

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Monitoring

Monitoring is the routine process of data collection and measurement of progress toward program objectives. It involves tracking what is being done and routinely looking at the types and levels of resources used; the activities conducted; the products and services generated by these activities, including the quality of services; and the outcomes of these services and products.

Entry link: Monitoring