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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. 

Healthcare Supply Chain News: The Biggest and Best of 2021

12/21/2021

the Z5 Piggy Bank dressed up as Will Ferrell's Buddy the Elf

As we've all been stretched to our breaking point this year, it seemed like a good time to offer up some of the most important articles in case you missed them. 

Consider this our end-of-year Five To Save

 

Unmeetable Supply Chain Demands

The public was quick to call healthcare workers and supply chain pros "heroes" as early as March 2020. But we're all sure by now - if we weren't then - that praise is no substitute for the resources we need to do our jobs. As we put it earlier in 2021: "You're not bad at your job. Your job is impossible." Accepting that has helped us and the organizations we help, because none of us can do our jobs if the expectations are unrealistic. Advocating for what you need and adjusting expectations to meet what can be achieved is essential for you to get through the current healthcare and supply chain struggles and, frankly, all your professional interactions for the rest of your life. 

 

The Unacknowledged Difficulty of Marking To Market

Knowing exactly what's on your clinical and warehouse shelves is admirable. It's not often accomplished, but it is achievable. The focus on the physical products themselves ignores the financial practices that get them onto the shelf in the first place. With the wild and sometimes unpredictable fluctuations in price for medical supplies, it's necessary to update the value of on-hand supplies to match their market price. And that's basically impossible without a quick way to count inventory in non-perpetual areas. 

 

The Environmental Effect of Medical Supply Chain Waste 

We talk a lot about the financial impact of expired products being thrown away before they can be used. We're each measured at our jobs by our financial efficiency and - in the hospital specifically - by our clinical efficacy. But the inefficiency of the supply chain has a measurable impact on the environment, and that has a measurable impact on the health of the communities we serve. So wasted supplies directly harm our patients. Imagine if we were measured and compensated based on that. 

 

Managing Supplies Line-By-Line and Shelf-By-Shelf

Healthcare supply chain management is unique. Not just because of the products themselves and their uses - although we're obviously grateful that higher safety standards are applied to products that are responsible for our health - but because of the way they're distributed and charged to different departments. Supply chain managers aren't necessarily the pros managing the supplies, but they are the pros responsible for accounting for those supplies. So you have to be even more careful when auditing inventory data

 

Gartner's Top Healthcare Supply Chains Use Z5 Inventory

The title on that one's pretty self-explanatory, but if you'd like to see an example of just what Z5 Inventory can do to improve supply chain efficiency, see how we help top-rated Baylor Scott & White count all their supplies system-wide in a single day. 

See How Z5 Helps Hospitals Valuate Inventory In 1 Day

 

Thanks for helping us make 2021 a success. Despite all the struggles, we made it, and so did you. And while the end of the year isn't the end of the line, it is a great opportunity to try something new. Why not try to achieve new savings by using Z5 Count, Z5 Reallocate, or Z5 Buy like you never have before? 

See how much you can start saving today. 

 

Topics: selling medical inventory, inventory valuation, inventory audit, newsletter, inventory management software, five to save, digital supply management, new year, buying medical supplies, expiration, hospital supply chain, healthcare supply chain, 2021, inventory management, loss and expiration avoidance, medical and surgical supplies, 2022

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.