LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest article that offers comprehensive insights on how healthcare organizations can use inventory management to cut down costs and drive profitable outcomes.
Our clients have reported a drastic decrease in inventory costs and better employee performance as a result of implementing inventory management techniques. We can help you tackle your inventory management issues too. Request a FREE proposal to know about the scope of inventory management in the healthcare sector.
The healthcare industry is growing at an unprecedented rate owing to the advancements in technology. With such transformations paving their way into the healthcare sector, companies often forget to leverage inventory management techniques to cut down costs but are rather focused on using technology to bring about measurable growth. To streamline inventory management techniques and automate supply and medication distribution, healthcare firms must implement the best practices such as investing in a hospital supply management system and streamlining inventory management tasks.
According to Quantzig’s supply chain analytics experts, “Our holistic approach to inventory management empowers companies to strike the perfect balance of lowering their overall inventory investments while improving service levels.”
Are you a healthcare industry player who is tired of tackling high inventory costs? You’re in luck. Quantzig’s advanced inventory optimization solutions portfolio is designed to make your inventory management processes easier and smoother. Talk to our analytics experts to learn more.
How Can Healthcare Companies Improve Inventory Management?
- Collect and analyze supply chain data: Healthcare companies can save billions of dollars by analyzing supply chain data. Leveraging insights obtained from such data sets can help businesses to determine cost-effective inventory management techniques. However, healthcare companies are more focused on building IT systems that use value-based reimbursement models, as it enabled them to accurately link supplies and patient outcomes.
- Set clear goals and responsibilities: Executives involved in inventory management must have a clear understanding of business goals and their responsibilities. This has made it crucial for businesses to either set clear goals or employ staff who have a basic understanding of their role and can proactively contribute to the success of inventory management techniques.
- Adopt a lean strategy: It is crucial to note that the inventory management techniques used by healthcare firms often have costs outside of the supplies purchasing. It includes movement and management costs, expired products, excess supplies, and purchase price variance. Implementing a lean supply chain will ensure that healthcare companies have the right number of supplies at the right place when and where they are required.
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Read the complete article here: http://bit.ly/35oxj5N
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal