Why should you track medical inventory?
How often do you track your inventory? Daily? Weekly? Monthly? How accurate are those counts against the medical devices and items in your warehouse stock? Every time those numbers are off, is money out of your pocket.
The inventory on hand in the warehouse is expensive and if miscounted could result in a costly misrepresentation in the accounting system, missed shipments.
Counting inventory the old fashion way is labor intensive and costly. Humans are also prone to error, and over counting or undercounting items may result in detrimental errors that cascade throughout the entire warehouse process.
Advantages of Medical Inventory Control
Every time an item is scanned into the inventory management program, several items of information are recorded into the system. One of those items of information is the expiration dates. They are easily accessed to know what products are coming up on their expiration.
Having all the information about products in one place also help if a product is ever recalled. With the simple click of the mouse, you can know exactly how many of that product you have on hand.
Having a medical inventory control system to manager your warehouse in place helps protect your investments. When knowing exactly what products are in storage and what products have been used during production, confusion and theft is less likely.
Another key to having complete control over inventory, is being able to rotate products and cycle counting regularly.
Many distributors and manufactures provide group buying contracts, guaranteeing a lower price. Having accurate inventory counts will help with the reordering process. When you are better able to control ordering, there will be no short notice ordering, saving money.
Having a clear workflow will begin to stop the error bleeding. Being able to minimize over ordering, there will be less unnecessary items in storage and allow for a more organized storage closet.
QStock Inventory Solutions
There are several ways to track inventory for reordering purposes. QStock can help you understand reorder information, and even help you with replenishing internally and externally from moving items from overstock locations to creating PO’s in your accounting system based on reorder recommendations.
To find a solution that will work for your office, feel free to contact us to see if we could be a help to your organization.
