H-Source Blog

linkedin-In-Stream_Wide___abstract-art-artistic-251287

Three Keys to Supply Chain Efficiency

by H-Source on 03/18/2019

An efficient supply chain drives higher quality of care and lowers costs on a system level. In a recent article from Becker's Hospital Review, they cite 3 major ways you can improve your supply chain efficiency: logistics solutions, procedural kitting solutions, and inventory management solutions.

Single warehouse is a logistics solution that helps cut expenses and allows for greater visibility and control. You can significantly reduce spend while improving patient care by having the right products available on a case by case basis. This single warehouse functionality is central to the H-Source model with reporting around accounting, expiration date tracking, and excess levels of inventory.

Another way to drive efficiencies is to keep track of your preference cards and ensure that you are sourcing doctor preference items from alternative sources to cut down on costs. In addition to getting creative in your sourcing, selling old preference items after a doctor leaves is equally important to your bottom line. Keeping a handle on preference items is key to lowering costs and driving efficiency. Selling these items or sourcing them on the H-Source Marketplace from other healthcare facilities can pull down the cost of these preference items and recoup dollars already spent after a doctor leaves.

The third and ultimately most important way to drive efficiencies in supply chain is Inventory Management. Eliminating excess inventory by selling idle stock on the H-Source Marketplace and avoiding product expirations by selling products prior to their expiration will help keep your supply chain lean and recoup costs. Allowing items of value to expire or be held in excess can be a costly mistake that affects your bottom line and profitability.

 Read the full article on Becker's Hospital Review, titled "Empower your supply chain to better support patient care: focus on these 3 areas."