We are inviting healthcare organizations, startups, and tech companies to join us for our exclusive B2B collaboration event, this time focused on:

Inventory Management and Supply Chain within Healthcare Organizations

This special online session will focus on addressing challenges like:

• Improving the Inventory Management process: reducing costs and maximizing resource usage

• Improving care: the right resources at the right place and the right time

• Reducing waste and optimizing usage of equipment and supplies

• Improving the planning and control process

This is an opportunity for healthcare organizations to meet startups and technological solutions that address challenges in Inventory Management and Logistics.

This is an opportunity for startups and technological solutions to meet potential collaborators / customers from around the globe.

This event will take place virtually on the 27th of March at 11:00 – 13:00 Israel time.

If you are a healthcare organization who is interested in this topic, or a startup/tech company who can address challenges in this topic, feel free to register HERE

This event is free for approved participants.  

Please read below for details on the topic and event:

Introduction

Inventory Management in hospitals is complex with multiple stakeholders and constraints. There is no “one size fits all” solution like in inventory management practices from other sectors, and most off-the-shelf solutions are not applicable because of the high degree of customization and large number of stakeholders involved within healthcare organizations.

Inventory management in healthcare organizations have two ultimate goals that frequently overlap: Cost Containment and Improving Care. Strong inventory management practices can improve both aspects, and both aspects need to be considered when a healthcare organization look to improve their inventory management practices.

The complexity of inventory management in healthcare organizations creates many challenges, but also offers many opportunities for technology to address the complexity.

A mainframe for understanding inventory management in Hospitals

Inventory management within healthcare organization can be considered across 3 distinct phases, which align with the flow of goods and supplies: 

·       Pre-Arrival

·       Arrival to Usage

·       Usage and Evaluation

Pre-Arrival

refers to the period of time before supplies arrive to the healthcare organization. This includes assessment of which supplies to order and why, dealing with multiple vendors and supply time-frames, and typically involves both the procurement and financing divisions within healthcare organizations

Arrive to Usage

refers to the period of time after goods and supplies have arrived at the healthcare organization, but before their end-point usage. This typically includes intake, inspection, sorting, stockage, storage, and other aspects.

Usage and Evaluation

refers to when goods and supplies are removed from standing inventory for usage, and the subsequent feedback loop to stock supply. This may also involve aspects of replenishment that can be integrated with the initial steps of the process to create a replenishment cycle. The usage phase also may include sterilization of equipment/supplies to be recycled back to healthcare organization.  

Inventory management in healthcare organization have 4 distinct dimensions, each of which is relevant for all three phases of supply flow

• Physical Infrastructure

• Inventory Planning and Control

• Information Management

• Organizational Supervision

Physical Infrastructure

refers to physical setting of inventory and supplies in hospitals, and their effective management. This can include warehousing, stocking/restocking, internal distribution and dispensing points, and flow.

Inventory Planning and Control

refers to underlying decisions and the decision-making process of inventory for a healthcare organization. This may include decisions on timing and quantity thresholds with vendors, stockage and replenishment thresholds, and usage rules based on clinical needs.

Information Management

refers to back-end systems, typically IT, for managing inventory. This typically includes analytics, demand forecasting and planning, and monitoring, but also may include integration with finance, accounting, and vendor/supplier interfaces. Information Management typically involves integration throughout the healthcare organization and is highly dependent on the existence and relevancy of inventory data.

Organizational Supervision

refers to the high-level managerial aspects of inventory management that serve as the basis for how health organizations address their inventory. This may include vendor/supplier relationships, cataloging, roles and responsibilities, and access hierarchies and protocols. One major aspect of organizational supervision is balancing between customization and standardization, which can be highly variable between different clinical/medical situations and different departments.