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Hospital supply inventory management creating a cottage industry for technology
Modern Healthcare

Within every hospital, supply problems are likely to lurk. Often, they’re problems of too much: too many sutures, too many surgical staplers, too much of too many items. Hospital staff, distrustful that they’ll have what they need when they need it, err on the side of excess.

But that’s beginning to change, as hospitals and health systems employ software with predictive analytics for inventory management. That way, they can forecast demand, reaching a Goldilocks level of supplies.

“The natural tendency is to just buy an entire mountain of inventory,” said Rick Conlin, a partner in the Advisory Board Co.’s spend performance solutions team. “Turning to some of these enterprise research tools gives them the ability to more confidently knock back some of that inventory and supply chain costs.”