Inventory Management

Evaluating and revamping materials management processes has become increasingly important as hospitals and health systems experience continued pressure to increase budgetary constraints, capacity constraints and clinical demands. Inefficient inventory management practices such as frequent overstock, obsolete inventory, lost revenue from expired product, and constant "stock-outs" resulting in high number of off-contract urgent purchases can be detrimental to the viability of the organization.

Coratek assists clients by identifying opportunities to streamline and standardize processes, gain operational improvements, and realize cost savings. Our process begins with evaluation of the current state including a review of:

  • Requisitioning process
  • Supply management resources
  • Case picking practices
  • Preference card content / accuracy
  • Completeness / accuracy of surgical item file
  • Supply management systems (Omnicell, Pyxis, etc.)
  • Level of integration / interfacing
  • Vendor / distributor relationships
  • Planned technology investments

We then map out the future state given the hospital's physical resources, demand projects and investment plans. Future state characteristics may include recommendations around:

  • Perpetual inventory
  • Reduction in obsolescence
  • Efficient requisitioning
  • Formalized reorder theory
  • Integrated seamless information systems
  • Sound process controls
  • Effective reporting
  • Full case cart system

Once the future state has been defined and determined, Coratek collaboratively establishes a work plan for areas where gaps exist between the current and future state. The work plan identifies the steps required to reach the future state including timelines, appropriately skilled resource needs, goals and measurements and recommended governance structure along with policies and defined procedures for ongoing maintenance and success. Coratek is also available to provide the necessary expertise to facilitate successful implementation and transition.