Two and a half years into the pandemic, hospitals have become skilled at managing supply chain disruptions. A market alert sent last week communicated recent global events that are likely to prolong disruptions.
Here are three proven ways hospitals can plan ahead to minimize the impact of product shortages:
Count. Increase. Pester.
1) Count inventory now – and often – so you’re not surprised by the next shortage.
2) Increase existing order volume to hedge against allocations.
3) Pester suppliers frequently about order status so if anything changes, you get the new information as quickly as you need it.
A community hospital was not getting all the surgical products it needed due to back orders and allocations. After cancelling several surgeries, they began taking a daily inventory of the most critical OR products so they’d know what they had, and where they risked running out. The supply chain team used inventory data to increase order quantities and adjust for allocations, and started contacting their supplier rep at least twice weekly for an update on open orders. After two months, they had reduced their out-of-stock products by 64% and had fewer stressful moments and cancelled procedures.
Miga Solutions provides the most accurate and actionable pricing information, enabling hospitals to lower their medical equipment total cost of ownership (TCO) by 12-16%. To learn more about how your hospital can save, contact us.