Z5 Inventory specializes in helping you discover and realize savings opportunities that may be hidden in your supply chain. On average, Z5 has found that most hospitals average between 15-30% slow and excess inventory. Hospitals are not often aware of just how much excess stock exists on their shelves. And a traditional physical inventory count does not reveal the hidden pockets of value.
The typical approach to physical inventory counts has been a single event where Finance and Supply Chain staff are forced to make trade-offs between cost and value. Finance needs an accurate number to report on their financial statements. And Supply Chain needs to deliver that number in a timely and cost effective manner. The opposing forces often lead to using the cheapest method possible, yielding less than accurate results depending on how the count was conducted. “Just get it done” is the most common mantra.
Imagine if your inventory count provided an opportunity to realize tremendous savings that far outweigh the cost. Through the Z5 Inventory solutions, you have access to a do-it-yourself model or a turnkey approach to counting all of the inventory across your entire facility and reallocating your accumulated excess inventory. The following is an overview of the services provided by Z5 Inventory.
The baseline for identifying savings opportunities is a physical inventory count. Z5 Count is an intuitive iPad application that can be used by internal staff to quickly and easily complete a physical inventory count. If you wish to have Z5 perform the inventory count, we have a seasoned in-house staff who are supplemented by experienced partners and/or your own hospital staff.
Cleanse your entire supply chain of excess inventory and realize hidden savings. Using your purchase history and the data provided by Z5 Count, the Z5 Inventory Platform leverages proprietary algorithms to identify and value savings opportunities. Z5 Reallocate provides the ability to Move slow and excess inventory to other facilities in your system or network, Sell it to secondary markets, and Donate it to charities.
Z5 Buy also provides an opportunity for you to buy new inventory at significantly discounted prices. This happens when Z5 takes possession of unused, unopened product that has been removed from customer facilities. When this occurs, Z5 completes an inspection process and offers the discounted product to other customers within our network, creating opportunities to realize a savings in inventory purchases.