Exploring the Benefits of Real-Time Visibility for Healthcare Inventory Management

In the United States, the healthcare industry employs 14% of the population. Healthcare inventory management is the foundation of every hospital and clinic in the country. Hospitals can function with a steady stream of medical supplies. Real-time visibility in healthcare inventory is essential. How can it help with inventory management and supply chain solutions?

Keep reading to learn more and find out if it's the right option for you.

What Is Real-Time Visibility in Healthcare Inventory Management?

The hospital supply chain is a delicate concept. If anything goes wrong, it could disrupt the entire chain, causing critical equipment to arrive late. If hospitals can't get their supplies, obviously, it will be difficult for them to function. If the supply chain prevents a hospital from receiving disposable syringes and bandages on time, its patients would be at risk of receiving needed treatments.

The problem with many traditional inventory management solutions is that they are too slow. Such a system might update you daily or every few hours about where a shipment is going. But this will only help you a little if something goes wrong with the supply chain.

You might only know about that problem a few hours later, dramatically delaying the warehouse's shipments. You also won't receive immediate notifications about the arrival or dispatch of something.

This is because these old-fashioned systems don't have real-time visibility. A shipment might get lost, and you won't know until it's too late. This could be confusing and difficult to fix.

But real-time visibility can fix this problem.

How Real-Time Visibility Works

This kind of system is becoming more widespread in the healthcare industry because more people realize how efficient and helpful it is. It is a type of software that you can use to track everything that comes in and out of the supply warehouse. It can also help you keep track of things that are already in the warehouse. If you need to find the exact quantity of specific supplies, this software can help you. If you need to keep track of an important shipment as it leaves the warehouse, this software can help you too. These systems are very flexible and can adapt to help you keep an eye on every important variable.

There will be no need to deal with delays in shipping. Instead, it keeps you updated every step of the way. If a shipment makes a slight deviation or stops moving, you will be the first to see it. You will be the first to know if something gets lost or goes off course. This makes it easier to ensure that supplies arrive where they need to be on time. If something happens to the supply chain, you will find out immediately instead of a few hours later.

This keeps you in the loop and ahead of the game. It will also help you locate shipments that risk getting lost or mixed up. This is true regarding supplies that are still inside the warehouse too.

Supplies often get lost in warehouses. They might fall behind shelves or get mixed up with other supplies. But a real-time visibility system can prevent this problem.

It allows you to keep track of everything at all times.

More Benefits of Real-Time Visibility

This system is great for reducing unnecessary spending in the healthcare industry. Suppose that you routinely lose pieces of equipment in the warehouse. A few pieces here and there might seem unimportant, but they will build up over time.

Those few pieces of lost equipment will eventually add up to hundreds or thousands of dollars of wasted funds. It would then be necessary to order more products to replace those lost. The cost of lost equipment is like a tumor growing ever larger in the body of the healthcare industry.

It also reduces efficiency in the healthcare system. This is because hospitals might not get enough equipment on time. Sometimes, they receive a fraction of what they need.

This can make it difficult to treat patients, especially when the hospital is full. But you can prevent these issues with real-time visibility. This system also makes things much more efficient.

Instead of dealing with supplies that get slowed down or lost, this system will optimize the process. This reduces the risk of anything going wrong when supplies are moved within the warehouse or shipped outside.

It will also reduce stress. This is because you won't have to do all the heavy lifting. The system can instead do everything for you.

All About Visibility and Healthcare Inventory Management

Healthcare inventory management requires constant attention. This is why real-time visibility is so important. This system lets you keep track of everything as it happens, ensuring you get the most updated information. You can keep track of your shipments every step of the way without having to do the heavy lifting.

To learn more about how real-time visibility into your hospital supplies works, check out our solution, BlueQ Analytics, and know where your supplies are at the right time!