Begin By Collecting Data

A hospital inventory management process is tricky because neither can you have too few products that the demand is not met nor can you have too many of them that the budget is blown through. So, how do you straddle the fine line between funds and demand? By using an excellent hospital inventory management process.

In this post, we discover four techniques that any medical centre can utilise to improve the efficiency of their inventory management system and reduce the associated cost!

• The first tactic to reduce the cost of a hospital inventory management process is to collect data from the entire supply chain. When you fail to use the information that is stored in a supply chain, it costs you a lot. Check if your current inventory management is effective or not. Find out where the leaks are and then find solutions to plug them.

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Move On To Responsibility And Analysing

• The second technique to be implemented for a better hospital inventory management process is assigning responsibilities clearly. Each person whose work is connected to supplies should know what their role is and how they can improve inventory handling. From the person who checks purchase orders to the staff who orders supplies to the person cleaning the supply room, everyone should know their tasks.
• The third strategy and the most important in the hospital inventory management process is to analyse the ratio of usage vs order frequency. Be aware of how much a particular item is ordered in each month/week/quarter and how much of it is used in the same period. When you compare the two, you get a better understanding if you have too much of the item or too less. Readjust as needed, and it can save you tons of revenue. Keep analysing the ratio every few months to ensure that you have optimal usage!

End With Better Organisation

• The last technique to lessen the cost of hospital inventory management process is to take a look at how well your supply room is organised. A chaotic and messy hospital supply room spells doom. Not only because little things slip through the cracks but because in case of an emergency, the time taken to find a drug or delivery device can prove critical. Moreover, misplaced supplies lead to a lot of lost revenue.
• Therefore, always keep your supply room organised. Try to use a linear fashion, i.e., the most used item should be most visible and easy to find. Another organisation tactic is to keep all those products that are nearing expiry date right at the front. This will ensure that no material and hence money is wasted.

Be sure to employ these tips to stay in control of your hospital inventory management process. Lastly, have a good eye and pay attention to detail to reduce costs further!