Owens & Minor : Controlling Out-of-Control Inventory

Many hospital systems are still trying to recover from the crushing loss of revenue and high staff turnover prevalent throughout the pandemic, so every dollar of inventory is essential for ensuring a stable future. In all of these cases, the key to gaining control over a runaway inventory process came down to having the proper insight about what inventory was needed, where it would need to go, and when.

According to McNally coming up with a useful inventory management process can look different depending on the healthcare system and its needs. For some, conducting an initial assessment can shine a light on necessary updates that solve inefficiencies in their supply chain. For others, implementing a comprehensive inventory management system that tracked every product, including expirations and recalls, helped support patient safety measures and automate manual processes for their teams. With staffing and funding shortages in the wake of COVID-19, many hospital systems are finding relief by securing dedicated inventory management experts embedded within their teams.

No matter the steps taken to get there, efficient management over the hospital supply chain is an imperative area of focus for industry leaders in this next phase of pandemic response. Inventory control can reduce expenses, optimize processing, support patient safety by tracking essential product data, and it can ultimately contribute to a more secure supply chain across an entire health system. Because while healthcare will always be navigating the unexpected, a secure supply chain can serve as a foundation for critical patient care when it matters most.