When it comes to supplies and inventory in hospitals, there are many different practices that management may decide to use to track and keep inventory levels of supplies current. The methods and practices used in each hospital will depend on: management decisions, the size of the hospital and the amount of inventory it typically has on hand, the type of inventory management staff have been trained in and you are used to dealing with, and any other practice that the hospital and administrative staff believe is in the best interest of the hospital.
Some of the best practices in hospital inventory management are similar to the types of methodologies used in the production materials management industry. These practices in hospital inventory management result in the same cost reductions and improvements in service levels typically seen in the manufacturing industry. In the past, hospitals were only interested in managing the material; however, today, managers and staff are also looking to manage the expenses, materials, and human capital involved in measuring inventory levels.
To better manage inventory levels, hospitals need to consider dollars and cents, not just the level of materials on hand. Because it’s a hospital, and you never know what patients will need, it’s best to keep a larger stock of material in case it’s needed. Many organizations don’t look at the right place to hold inventory, how much it costs to hold, and how much is actually required. To properly manage inventory, all of these considerations must be taken.
Hospitals must also take into account the cost of the materials, not just the actual price. Material acquisition costs, including ordering and shipping costs, are critical for managers to truly estimate available inventory. Establishing built-in policies for staff to follow is another key. Using centralized ordering systems will help keep inventory levels under control. These order deadline and time policies will keep all staff aware of what is available and what will be needed the next time order dates roll around.
To maintain the best inventory system in hospitals, everything must be considered, from the actual amount in stock to the costs involved in storing the inventory and shipping costs. For best practices, establish policies on ordering, minimum levels to be maintained, and all inventory and costs for all hospital staff.
