Why Data is Important
Data precision is one of the most important aspects of supply chain management. Accuracy from the onset is crucial to ensure the right product quantity is received at the right price. Clean data also helps hospitals carry an appropriate amount of inventory, monitor inventory expiration dates, and value inventory appropriately. Ultimately, the only way for hospitals to enhance their contract commitment and identify cost-saving opportunities is by maintaining data integrity.

Best Practices
There are five best practices we recommend for supply chain data. The item master is where data integrity begins, and it pays to be thorough. The first key action is to establish a unique item master for each new product entering the hospital, making sure to avoid recycling item numbers.

Read the full report in Healthcare Business Today, Oct. 3, 2024.