Supply Chain Tip of the Week: Optimize your supply chain with data and forecasting

As discussed at The Association for Health Care Resource & Materials Management (AHRMM) 21+ virtual conference on September 14-16th, gaps in technology or data can reinforce silos in healthcare supply chains.

Tracking the flow of supplies down to the SKU within your supply chain and recording this data can uncover savings and optimization opportunities. There are different types of Key Performance Indicators (KPIs) you can use to monitor your facility. These include expiration controls, the percent of expiring products out of total on-hand inventory, and inventory size reduction, percent of infrequently used products in the last 12 months out of total on-hand inventory. You can also use product purchase rationalization, product purchased versus consumed in relation to case volume, and clinical utilization management, cost per each type of case per physician. 

Applying data when building forecasting capabilities can help to address long-term planning needs for you supply chain. Forecast your supply needs based on your anticipated procedure types and volumes and examine cost per physician for the same procedures. It’s beneficial to also focus on eliminating unnecessary product variation and standardizing clinical utilization. 

For more insights on supply chain data and optimization visit our Supply Chain Center.

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