Inefficiencies in Inventory Management

Identifying the Gaps and Challenges in Today's Systems

Inventory Management Challenges

Manual inventory processes, such as handwritten notes and scattered labels, lead to discrepancies and inefficiencies. Devices are often moved without proper documentation, causing confusion and errors in stock levels. These outdated methods result in overstocking, stockouts, and missed reordering opportunities.

Source: Supply Chain 24/7, "Why Manual Inventory Management Is an Issue"

Supply Chain Disruptions & Complexity

Traditional systems struggle with supply chain disruptions, delays, and forecasting, lacking real-time visibility and data-driven insights. Managing diverse inventory, including hospital-owned and consigned items, across multiple departments and vendors, further complicates effective inventory control and standardization.

Source: Healthcare Supply Chain News, "Challenges in Hospital Inventory Management"

Product Lifecycle & Expiration Management

Inadequate tracking and management of device lifecycles lead to significant waste, with many devices expiring before use. Annual device waste contributes to $25B in losses, exacerbated by the inability to relocate or properly manage inventory across departments or hospitals.

Source: Becker’s Hospital Review, "The Cost of Device Expiration in Hospitals"