Managing Inventory with Surgical Precision

Managing Inventory with Surgical Precision

October 2, 2017

Article Title: How can your ASC reduce waste by 5% and accrue savings? Manage your inventory

Author of Article: Mary Rechtoris

Date of article: September 11, 2017

Source URL: http://www.beckersasc.com/asc-turnarounds-ideas-to-improve-performance/how-can-your-asc-reduce-waste-by-5-accrue-savings-manage-your-inventory.html

Ambulatory Surgical Centers (ASCs) have untapped opportunities to reduce waste by better managing inventory. One recommendation is to collect data on the supplies surgeons are actually using during surgeries, to better match supply with demand. A surgical center which did this analysis saved 5% on inventory, and the savings went straight to the bottom line. Inventory management in an ASC takes a team, though, so the key is employee engagement.

Discussion Questions
1. Consider the types of inventory waste mentioned for ASCs. What comparable wastes do you see in your organization?

Guidance: Since all businesses have to manage inventory, whether raw materials, finished goods, or indirect supplies, this can generate a discussion about different types of inventory and symptoms of excess inventory.

2. What effects does inventory waste have on you or your organization?

Guidance: This question can provide an opportunity to discuss resource management, how waste affects the environment, the community, morale, and productivity.

3. This article is about healthcare, but what do Continue reading

Facebook
Twitter
Out with the Old, in with the Cloud

Out with the Old, in with the Cloud

October 1, 2017

Article Title: 4 ways your legacy supply chain systems are costing you money

Author of Article: Margaret Harrist

Date of article: September 13, 2017

Source URL: https://www.forbes.com/sites/oracle/2017/09/13/4-ways-your-legacy-supply-chain-systems-are-costing-you-money/#2c437f1c7e72

Legacy supply chain issues include  lack of agility, lack of timely information flow, limited ability to incorporate new technologies, and technology security risks.  Agility requires the supply chain to close the gap between forecasted and actual demand.  Despite the name, a supply chain isn’t linear, it’s a global network, ‘an interconnected web, with the customer in the center.’

Discussion Questions
1. What can be done to improve forecasting accuracy above 90%?

Guidance: The discussion should include qualitative techniques and collaborative forecasting.

2. How can the bullwhip effect be minimized?

Guidance: The discussion can be geared toward understanding the bullwhip effect, and how collaborative forecasting and communication within the channel can minimize the effect.

3. Using the Supply Chain Framework, how can the bullwhip effect be minimized for each of the four strategies?

Guidance: This is a broader discussion to include the technology and information flow requirements for each strategy.

Facebook
Twitter
Steelcase Runs Circles Around Waste

Steelcase Runs Circles Around Waste

October 1, 2017

Article Title: How Steelcase’s Initiatives Support a Circular Economy

Author of Article: Mallory Szczepanski

Date of article: September 6, 2017

Source URL: http://www.waste360.com/waste-reduction/how-steelcase-s-initiatives-support-circular-economy

An estimated 8.5 million tons of furniture waste goes to landfills annually. According to Steelcase, the root cause is “an economic model that is built on taking, making, and throwing away.”  This Grand Rapids, Michigan furniture designer and manufacturer is looking for ways to enhance an organization’s bottom line, and open up new ways to conduct business.  Their Eco-Services and Phase 2 programs help companies evaluate their furniture inventory for opportunities to reduce, reuse and recycle.

Discussion Questions
1. What are the benefits to companies of participating in the Eco-Services or Phase 2 programs?

Guidance: Discuss the concepts of triple bottom line/sustainability, of waste management, leaning a business.

2. How could the Steelcase initiatives be applied to other business uses?

Guidance: A great opportunity to re-imagine/brainstorm ways to repurpose waste or excess inventory. Steelcase has found a way to turn the concept of reducing furniture waste into a business opportunity.

3. What is the tipping point for you or your organization to pay more for products that have a positive Continue reading

Facebook
Twitter