Excess par levels can cause your facility or health system to invest in supplies that may expire before they can be utilized. On the other hand, insufficient inventory can lead to product shortages.
Analyzing historical data and matching inventory par levels to usage patterns can lower overall par levels without risking product shortages, all while allowing you to predict and plan future usage. Particularly for high-value items, predictive analytics that look at historical use to anticipate future use are necessary for long-term inventory strategy to be successful.1 However, make sure to remove outliers like pandemic data from your analyses, as this can skew typical usage metrics and result in inaccurate predictions.
To learn more about optimizing your supply chain, explore these resources, insights and services. For more information on how Cardinal Health is addressing COVID-19, and additional resources and tools, visit cardinalhealth.com/covid19.
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