Tag: Wonil Gregg

Best Practices for Reducing Stock Outs and Overstocks In the Healthcare Industry

Wonil Gregg

By Wonil Gregg, vice president of customer engagement and experience, DCPerform.

Whether you’re a customer or a worker, chances are you’re all too familiar with the persistent challenges of stockouts and overstocks across the healthcare industry. Stockouts can lead to missed opportunities or incomplete treatments, while overstocks cause unnecessary financial waste. The cost of unused drug waste in the healthcare industry costs $2.8 billion of medication per year.

Managing inventory in the healthcare industry requires striking the right balance between supply and demand and using great supply chain services. Fulfilling customers’ demands must balance maintaining an adequate yet cost-effective supply of goods and materials. Learn more about minimizing stockouts and overstocks to improve patient care and increase savings.

Mastering Forecasting and Inventory Analysis

Forecasting and inventory analysis have become essential tools for ensuring optimal stock levels in the ever-changing healthcare industry. Inventory forecasting uses data to drive decision-making. This is the application of information and logic to ensure you have enough products to meet customer demand without overstocking.

Whether it is a small or large corporation, paying attention to these crucial metrics is key to staying competitive in today’s fast-paced market.

Continue Reading