Managing your inventory in an effective and efficient manner is a goal that many businesses continue to strive for. One such idea that has been developed and is now in full use is the vendor managed inventory (VMI) system, which if implemented correctly can drive distinct competitive advantage.
Without further ado then, let’s look at how VMI has evolved, its business advantages and how it could play an important part in an effective inventory optimisation program.
Hospitals expanding use of transaction sets beyond purchase orders to automate more aspects of their purchasing and supply chain management processes, but there is still room for growth
While the healthcare industry is often accused of being slow to change, a new study conducted by HIMSS Analytics and sponsored by GHX found that there is widespread use of e-commerce by U.S. hospitals in the purchasing process, with 95 percent of acute-care hospitals with more than 150 beds purchasing at least some of their medical-surgical supplies electronically.
HIMSS Analytics surveyed hospital purchasing officers to understand the extent to which hospitals are automating various aspects of the purchasing process through the use of electronic data interchange (EDI) transaction sets and the percentage of medical and surgical purchasing that is handled electronically. Researchers also asked where respondents believe automation provides the greatest value and what they believe to be the biggest barriers to increasing the use of e-commerce.
The findings revealed that, in general, acute-care hospitals have embraced e-commerce and are automating a variety of business processes with multiple trading partners.
However, there is still work to be done before the industry can achieve full value from e-commerce. Key findings include:
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