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Inventory Advisor for Healthcare Supply Chain

Gain efficiencies by using analytics for cost savings.

Inventory Advisor – Control Costs and Capture Revenue

Healthcare inventory has a set of unique challenges, including ordering and delivering goods to providers and patients across departments and locations; managing external suppliers, insurance companies, and group purchasing organizations; and adhering to compliance statues. Each of these entities generates a data stream captured in automated inventory management systems, ERPs, EHRs, and other key data sources. Inventory Advisor assists Directors of Materials Management and VPs of Supply Chain Management by integrating all this data to track the metrics that really matter. This results in reduced costs and increased efficiency.

Inventory Advisor – Access to Standard Out-of-the-Box Measures

Inventory Advisor comes with more than 60 out-of-the-box measures that can be quickly implemented in your hospital. Some of these measures include:

Inventory
  • Inventory
    • Carrying Cost
    • Carry Cost % of Inventory
    • Total Inventory Cost
  • Inventory
    • Average Inventory
    • Beginning Inventory
    • Cases On Order
    • Ending Inventory
    • Inventory % of Avg
    • Physical Count Inventory Value
  • Shrinkage
    • Shrinkage
    • Shrinkage % of Inventory
    • Shrinkage % of Sales
  • Dead Stock
    • Dead Stock
    • Dead Stock % of Inventory
  • Active Sku Count
    • Average Cost Per Unit
    • Order Fill Capability
Inventory & Sales
  • Inventory & Sales
    • Gross Margin
    • GMROI
    • GMROI % of Goal
    • Gross Profit
    • Gross Profit %
    • COGS
  • Out of Stocks
    • Out Orders
    • Out of Stock Order Rate
    • Out of Stock % of Goal
  • Order Cycle Time
    • Average Order Cycle Time
    • Average Order Cycle Time % of Goal
    • Order Cycle Time
  • Supply
    • Days of Supply
    • Days of Supply % of Goal
  • Sell Through Rate
    • Sell Through Rate
    • Sell Through Rate % of Goal
Inventory & Sales (continued)
  • Inventory Turns
    • Inventory Turns – COGS
    • Inventory Turns – Sale Amt
  • Days of Supply
    • Days of Supply
    • Days of Supply % of Goal
    • Average Inventory
  • Days to Sell Inventory
    • Average DSI
    • Average DSI Goal
  • Returns & Perfect Order Rate
    • Returns
    • Rate of Return
    • Perfect Order Rate
  • Inventory To Sales
    • Inventory to Sales Ratio
    • Inventory to Sales Ratio % of Goal
  • Lost Sales
    • Total Inventory Cost
    • Invoice Cases
Inventory & People
  • Units Counted
    • Employees Counting
    • Average Units Counted Employees
    • Average Units Counted Employees % of Goal
    • Hours Counting
    • Average Units Counted Hours
    • Average Units Counted Hours % of Goal
  • Units Picked
    • Employees Picked
    • Average Units Picked Employees
    • Average Units Picked Employees % of Goal
    • Hours Picked
    • Average Units Picked Hours
    • Average Units Picked Hours % of Goal
  • Units Put Away
    • Employees Put Away
    • Average Units Put Away Employees
    • Average Units Put Away Employees % of Goal
    • Hours Put Away
    • Average Units Put Away Hours
    • Average Units Put Away Hours % of Goal

Inventory Advisor measures come with business rules and definitions that you can tailor based on your healthcare system’s unique needs. With Inventory Advisor you get quick deployment, the flexibility to adapt your analytics metrics as needs evolve and the tools to create dashboards to display metrics for all levels of users.

Below is a screen shot of an Inventory Advisor dashboard: 

Click to enlarge

Explore the Inventory Advisor Data Sheet to learn more

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