Why is it important to manage the inventory levels? Can you list some pros and cons for holding a big inventory for the companies? Given lean manufacturing is popular nowadays, many hospitals also go with the lean approach. Can you lean hospital in your area? Will it be pleasant if the hospital run out of supply when patients need them?© BrainMass Inc. brainmass.com October 25, 2018, 9:59 am ad1c9bdddf
Managers must be able to balance between having too much inventory and too little inventory. Inventory management is important because it affects customer satisfaction.
Hospitals, like any other business, want to improve their efficiency and reduce waste. Hospitals are very much dependent on insurance reimbursements for their finances. As a result, a change in insurance policies can have a huge impact on the hospital's ability to continue operations without laying staff off. By managing inventory to reduce costs, hospitals can better retain skilled staff to provide a high quality of patient care.
Pros of having a big inventory:
- The company will have enough products when customers want them, which increases customer satisfaction.
- Having too little inventory leads to high-priced emergency shipments or production. The company can avoid these costs by ...
Pro's and con's for large inventory quantities are discussed in 516 words.
Support EOQ: Hospital Glove Simulation (UOP)
Support EOQ: Hospital Glove Simulation
Write a paper of no more than 700 words in which you address the following: Summarize the simulation along with your results. Be sure to describe Hospital Glove's primary organizational objectives. How did your decisions affect the simulation outcome? Describe and evaluate the inventory model used in the simulation. Describe and analyze the scheduling and controlling techniques that apply to the simulation. What recommendations would you make regarding inventory models or scheduling and controlling techniques for this organization to meet its objectives? How would the use of technology affect the inventory models or scheduling and controlling techniques for this organization?View Full Posting Details