I know of no other industry where having inventory on hand is more critical than in health care.
It can literally mean life or death when you don’t have the correct supplies or working equipment at hand in the right place at the right time.
Calculating the minimum re-order points, lead times for delivery and quality measures for supplies is a matter of math. But health care, like all industries, are feeling the squeeze for budget and need to make the most economical decisions for supply management as well. That is why PeopleSoft inventory can calculate replenishment by a number of methods so those items that are the most critical can get higher visibility and priority over others where economic order quantity can best be used.
Let me help you define and deliver an inventory model that makes economic and service level agreement sense.
Think about this the next time there is a pandemic (or a spike in sales or a product recall) and you wonder if you have enough on hand or in the pipeline to meet demand.