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The Z5 Inventory blog is brought to you by the geniuses behind Count, Reallocate, Buy, which saves hospitals money at every step of your inventory's lifecycle.
Find out how to solve healthcare's $5 Billion inventory waste problem today. Then get back to the ridiculous gifs we found this week. 

2/3 Supply Chain Leaders Have Inaccurate View Of Inventory

3/9/2021

Two gray silhouettes and one white silhouette of a person's head and shoulders.

How do you measure up?

Last month, Z5 Inventory partnered with Steward Health Care and Becker's Hospital Review to share the step-by-step process that enabled Steward hospitals to save more than $16 Million in a year. (If you haven't had a chance yet to watch that presentation, check that out here.) 

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As part of that presentation, we polled supply chain and hospital finance professionals to check their estimates against our facts. Some of the results surprised us, even though Z5's entire purpose is to help hospitals with their inventory struggles. 

Only 1/3 supply chain leaders had an accurate view into the amount of excess inventory they have on their shelves. The average hospital carries 15-30% excess, but the majority of respondents estimated theirs much lower. We hate to think optimism is dangerous, but it can prevent us from realizing that there might be problems to solve. 

A project to move, sell, and donate excess inventory was seen as at least somewhat difficult at 80% of all healthcare providers. The reason why was made clear in one of the other results from the survey...

The biggest obstacle in the way of optimizing supply levels is a lack of time and other resources. No huge surprise there. Time has never seemed more at a premium than in the last year, and as that problem doesn't look like it's going to be solved anytime soon, hospital supply chains will have to partner with organizations that have the time and resources to help them. 

We might know some people who could help. Find out what resources Z5 Inventory can provide to turn your excess into savings that you can then use to provide better care to your community. 

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Topics: selling medical inventory, Z5 Count Software, reallocation, app, savings, beckers, donating medical supplies, buying medical supplies, steward health care, medical supply chain tracking software, service system for hospital inventory, inventory management system, inventory management

Alex Diamond

Written by Alex Diamond

Raised in the armpit of East Texas before escaping to the civilization of Austin, Alex is an author and former radio/podcast personality. If you ever run into him, ask him about the day he split his pants in front of the Lone Ranger.