Inventory Optimization Service
To learn more, contact us online or toll-free at 877.300.9180
We help pharmacy leaders maintain adequate drug inventory to meet patient needs while balancing inventory costs. On average, we achieve inventory reductions of 17- 48% in the first year. Achieving this objective requires a dynamic system that adjusts inventory levels based on patient demand, changes to formulary, and packaging specification requirements (e.g. bar coding), as well as efficient synchronization of daily ordering, receiving, verifying, and payment procedures. Through our Inventory Optimization service, we help hospitals reduce costs, reduce expired medication waste, ensure accurate cost of goods accounting, and increase accuracy with charge capture.
Our subject matter experts can also help increase the pharmacy buyer’s knowledge of inventory and purchasing practices, thereby helping our customers reduce the pharmacy time spent managing the purchasing and inventory functions. Our inventory optimization service is customized based on individual customer needs and priorities – we can provide consulting services, project work, and ongoing, supplemental support services to plan, implement and maintain an inventory control program.
About our experts
We manage hospital pharmacy inventories for over $1 billion in annual drug purchases, and train about 150 pharmacy buyers annually. Our full-time staff of experts is dedicated to researching and developing best practice strategies to support purchasing and inventory logistics management.
How can we help?
We provide assessments, project work, and ongoing, supplemental support services to rapidly identify and prioritize, and, if needed, implement and maintain a purchasing and inventory program that reduces touch points, controls costs and reduces waste. Please contact us today to learn how our industry-leading experts can help your hospital.