Inventory Management
Factor Affecting Efficiency
01.
Uncertainty of Supply and Demand
Understocking is a risk to be avoided at all costs.
Overstocking is a safeguard for many issues but most often leads to wastage, and is not operationally efficient.
02.
Lack of Coordination and Integration
Hospitals are complex institutions with complex interconnected systems.
Lack of integrated solutions is a major problem in the supply chain leading to massive inefficiencies.
03.
Manual Time-Consuming Process
The healthcare environment is dynamic and time-sensitive.
Manual processes struggle to keep up with timely updates leading to poor decisions and errors.
Cause and Effect
The Risks Are Evolving
Supply chains have evolved over years to become extremely complex—and not just because they stretch around the world into regions increasingly prone to natural catastrophes.
They are also at risk from other perils, such as information technology or telecommunication outages, transportation network disruptions, and civil strife.
In addition, supply chains include suppliers with their own risk management issues, as well as their own supply chains that are at risk of disruption.