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Over the past few weeks, the US has outpaced all the other countries to become a major hotspot for the COVID-19 pandemic. Amidst the rising pressure, the US healthcare system is also faced with the harsh reality of acute material shortages including ventilators, intensive care capacity, healthcare staff, masks, and even medicines to treat the infected. These healthcare supply shortages are largely hamstringing the heroic efforts of professionals in the US healthcare system to battle the pandemic. The US healthcare providers, now more than ever before, require the right supply chain management strategies to overcome supply shortages, optimize resources, and to ensure the agile expansion of capacity. Infiniti Research offers operations management and supply chain best practices for providers in the US healthcare system that are grappling with the sudden demand surges and supply shortages of healthcare resources:
- Managing healthcare delivery system: During the COVID-19 outbreak healthcare providers are struggling with system congestion due to the increase in the inflow of patients. To manage the rapidly increasing demand due to the novel coronavirus, several hospitals are postponing non-critical surgeries and diverting patients not requiring critical care from hospital settings to home care. However, healthcare providers must complement this strategy with the right technology and infrastructure to support this such as telemedicine and mobile care units. Furthermore, having adequate visibility into short-term future demand provides hospitals and other care sites the opportunity to plan patient flows more efficiently.
- Managing supply shortages and bottlenecks: Managing resources while providing adequate care to patients is not an easy task especially in the case of a highly contagious virus like the COVID-19. Proactive and agile supply forecasting provides important visibility into the future state of the supply chain and enables organizations to effectively identify potential shortages well in advance. Pooling resources from other healthcare facilities in the country that have lower demand can also help stabilize the demand-supply gaps.
- Assessing current and predicted liquidity profile will be crucial for retailers across the globe, especially in case the demand downturns continue to persist for a prolonged period. Assessing possible changes in their working capital dynamics or short-term cash forecasts can help retailers better plan on how to pay their bills, make rental negotiations, or even leverage hardship funds.
- Managing long-term supply challenges, especially for grocery retailers as consumers begin to panic-buy, is another major concern for retail companies. In the long term, this change in consumer behavior could result in severe stock-outs. Most non-food retailers are yet to feel the full impact of supply disruptions. But with time, we expect to see significant changes in the magnitude and timing of supply chain disruptions across geographies and subsectors. Retailers should consider discussions with key suppliers to assess their risks, identify any indirect exposures, and create business contingency plans for the short, medium, and long-term.
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Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us