An appetite for inventory innovation in healthcare

Inventory innovation is an attractive option for hospitals seeking ever greater efficiencies.

The healthcare providers we work with are using our technology to enable the automation of the replenishment process, improve how clinicians, procurement and finance staff work together to choose products and services that are cost effective in the short and long term, and crucially, offer the best outcome for patients. GS1 data standards are used in healthcare to enable the track and tracing of products, caregivers, locations and patients. A good inventory management system will help connect and gather data from a multiplicity of sources of validated data – providing a single robust core of management data from which to base decisions. Real inventory management is indeed a core enabler to change in healthcare, and improvement to management of the supply chain. In healthcare though it is far more than that, it is a core enabler to so much more; including improving patient safety, reducing the running costs of a healthcare organisation, and tracking and tracing products. The implementation of a robust inventory management solution forces good practice in procurement and the adoption of common standard operating processes across an organisation. Innovative inventory management in healthcare has a huge impact on value, not just costs, which is crucial at a time when healthcare providers across the world must maintain a constant eye on spend.