It's April. That means it's time for wildflowers, warmer weather, and - for most - a little spring cleaning.
No one really likes spring cleaning, but it's a necessary evil. This holds especially true for hospitals, as excess inventory that will eventually expire or remain unused can amount to millions in lost product (AKA dollars).
Are you one of the many hospitals facing this challenge?
Our signature Count, Reallocate, Buy solution offers healthcare providers an avenue to liquidate excess, unused, or slow-moving inventory directly, rather than hassling with an auction or assortment of purchasing companies.
Why is it such an undertaking to sell your excess inventory?
Hospitals are more than aware of the challenges involving excess and slow-moving inventory. However, it's hard to find a fix due to several factors:
Identification: You know you have excess inventory, but it's hard to figure out what it is and where it's located.
Solution: Z5 software compares both a) your purchase order history and b) your count data. This data is used to produce a list of all the inventory items that are going to expire if left unused. This list includes their exact locations, down to the shelf or closet they're collecting dust in.
Moving it Internally or Finding a Buyer: Once you know what you need to move or sell, your hospital has to find a buyer and determine the most competitive offer. Auction companies or other liquidation companies might only be looking for specific items.
Solution: Z5 resells your excess, unused inventory to other hospitals in our network at a discounted cost. Z5 is able to commit to purchasing a larger amount of your inventory, all at once, since we already have a buyer in mind upon purchase. In this way, we're not limited to buying the "most popular" items we think will have the best chance of reselling -- we already know.
Getting Rid of It: Will the company purchasing your excess inventory supplies come get it? How long before they pick it up? Or does your team have to deal with packing it up and shipping it out? What about the shipping costs? The logistics can drive you mad.
Solution: Hospitals love Z5's pCommerce program because it's quick, easy, and simple. Once you agree to the purchase, our team arrives and picks, packs, and ships it out. You receive a check and space.
About Z5 Inventory
Every organization in the healthcare industry struggles with inventory. So Z5 Inventory’s founders set out to solve the problem. Using our unique Count, Reallocate, Buy platform, Z5 Inventory can not only count your inventory, but turn the slow-moving and excess stock on your shelves into savings in your pocket.
Want to learn how much we can save you? Contact us.
Headline photo via Depositphotos.