By Mareo McCracken
Loan Optimization – “One Loan Per Day”
If you are like most people, you have struggled with managing inventory levels, you have tried so many tools and algorithms, well it is not your fault, and here is why…
Many organizations have their own blend of inventory forecasting models. However, without insight into the actual location of each piece of field inventory, the benefits are limited.
If forecasting models don’t incorporate product schedule data (where product is scheduled to be and when), forecasting is essentially a guess based only on consumption demand. Even with a good estimate, organizations typically only manage inventory production levels (rather than optimizing individual loans).
Movemedical’s Atomic Inventory (piece-level tracking) combines with schedule-based prediction algorithms to optimize the true values of what is needed at each location for a specified time period. We call this “loan optimization”. Loan optimization works by finding and allocating inventory using every possible inventory location (consignment, warehouse, field office, trunk stock, owned, etc…). The result: fully-optimized inventory loans based on historical trends, real-time atomic inventory locations, and forward-scheduled data.
- Dramatically Reduce Field & Stocked Inventory.
- Reduce errors.
- Reduce costs.
- Improve doctor / vendor relationships.
- Reduced burden for schedulers, nurses, sales operations and sales reps.
- Increased efficiency.
- Reduced complexity and confusion.
ONE LOAN PER-DAY
The goal of extreme loan consolidation has been a lofty one as long as medical logistics has been around. Consolidating loans to the point of shipping a single loan per day from a given location was an even farther stretch of the imagination. With loan optimization, Movemedical has broken this barrier. By controlling inventory allocation at the most granular level, and optimizing based on a global, real-time schedule the loan-per-day concept has now become a reality.
YOUR COMPETITIVE ADVANTAGE
With Loan Optimization, what needs to be brought into a surgery is no longer a guess. Each surgery center/hospital location gets one shipment per day with all the required material for every surgery that day. One shipment. One return. Warehouses, as well as surgery centers and hospitals, experience a reduction in the overall “footprint” of inventory within their locations. In addition to cost reduction, everyone in the supply chain is happier and operations are simpler. In a word: better.
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