- BHA FPX 4110 Assessment 2 Vila Health: Personal Protective Equipment (PPE) Inventory.
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Vila Health: Personal Protective Equipment (PPE) Inventory
My name is XYZ, and this is my small blog on Squarespace > Based on the above analysis, the primary content of the presentation will be on the identification of best practices in the management of PPE inventory at St. Anthony Medical Center (SAMC). Good stock management and control are essential to protect the members of the healthcare professionals and enhance direct patient care delivery.
In today’s presentation, concepts of inventory management will be presented, and the current status of PPE inventory will be evaluated. Then, the potential improvement opportunities for increasing efficiency, decreasing cost, and thus contributing to the medical center will be discussed.
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Overview of Inventory Control
Inventory control can be defined as the practice an organization takes when it comes to the management of stock to ensure that the firm has enough stocks to meet the demand while at the same time using the least amount to acquire the stocks.
As mentioned earlier, inventory control in the healthcare context focuses on the competent management and tracking of available stocks of drugs, equipment, and other materials needed in the process of delivering healthcare services to the populace, and this has the potential to enhance operations, minimize expenditure and ensure the provision of services within the stipulated time (McGlynn et al., 2022).
The significance of sound inventory management systems must be emphasized in healthcare institutions. Institutions with sound inventory management systems that wish to achieve economic stability must be OK and ready to formulate concrete measures to deal with specific problems.
BHA FPX 4110 Assessment 2 Vila Health: Personal Protective Equipment (PPE) Inventory
EOQ plays an essential role in managerial decision-making, saving costs, monitoring orders, and meeting stock checks. By implementing EOQ, the organization can determine the orders’ frequency and quantity to eliminate the costs of storage. EOQ assists in keeping the order at an average level because when the orders are well managed, there is a fast replenishment of stock.
Concerning operations, it facilitates control by offering information on the kind, quantity, and location of stocks, and situations of low or dead stocks can be avoided (Luenendonk, 2021). As a result, an organization gets a bottomed optimum order quantity with less or no unnecessary inventory and cost, which enhances organizational management.
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Impact of Center’s Volume with Strategic Perspective
The volume of considerations of the medical center is dominated by the usage of PPE in the past, present, and future, which play a critical role in the performance of the organization. This is because of the level of population in one hospital, especially in light of the recent COVID admission in St. Anthony Medical Center (SAMC); the usage of PPE also increases. A relationship exists between the demand and the medical center’s cost of operations and their capacity to deliver timely and sufficient care.
The overall coordination of inventory in terms of volume is an essential prerequisite to the adequate availability of personal protective equipment, maintaining the protection of healthcare workers, and following legal requirements. Therefore, if the medical center fails to implement changes that can respond to these volume dynamics, operational efficiency may decline throughout the Center and, consequently, increase overall costs and a lower quality of care, thus threatening the success that has been fostered to provide successful and efficient healthcare services.
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Options for Inventory Ordering
Ordering quantities concerns the ideal figures of products that an organization should order to achieve its respective requirements on inventory. These, which are computed through factors like the Economic Order Quantity (EOQ), usually seek to lower the costs of holding inventory and ordering in the most optimal way possible to meet the demand (Luenendonk, 2021). Other inventory ordering systems involve the following ways of execution to maintain the desired stock level.
Common types are the operating cycle, in which inventory is reordered in fixed time intervals, and the fixed order quantity, in which inventory is reordered based on fixed quantities on each occasion that the stock hits a certain low level. The advantage of periodic order is that it is simple and very appropriate for those products with constant and predictable usage rates, which helps to avoid most of the complex tracking systems. However, stockouts or overstock circumstances in this option imply that holding costs are relatively higher, bearing in mind that orders are made infrequently, and the system is not very sensitive to meaningful shifts in demand (IBM, 2023).
Some of the modern techniques that are encompassed are Just-In-Time (JIT) which actually minimizes holding costs by only ordering stocks as and when they are required in the business. On positive aspects, they are cutting down holding costs to the barest minimum possible, increasing efficiency and agility to pinpoint demand swings, and thus reducing stock risks or opportunity costs.
Potential limitations include the fact that it relies on accurate demand forecasts, bearings which it is sensitive to disruptions in supply, and where it may require close cooperation with reliable suppliers to ensure timely supplies (Balkhi et al., 2022). The advantages and disadvantages of these options can prove helpful to organizations in making better decisions.
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Other Personal Protective Equipment (PPE) and Alternative Stocking
The use of extra Personal Protective Equipment (PPE) is when new health issues or new standard guidelines on workers’ protection arise. This may be illustrated by the introduction of equipment to deal with specific diseases that cause infection (Verbeek et al., 2020). As for other forms of stock, like consignment, for example, issues about demand volatility must be taken into account.
The consignment arrangement can reduce the risk of overstocking since there are options to deal with fluctuations in the healthcare environment without incurring storage costs specifically for overstocking (Vrbová et al., 2020). There is validity in focusing on particular healthcare concerns to choose interaction techniques for stocking.
The replenishment of inventory should depend on specific rates within the organization and may entail factors such as demand rates, lead time, and storage space. It is suitable for business inventory situations characterized by routine consumption of certain products and when the cost of the individual products can be increased by purchasing in bulk (Fabregas, 2022). Replenishment of inventory should be done based on an optimal appreciation of the organization’s need to perform its operations and the overall demand that is expected to occur.
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Leaders’ Responsibilities in Inventory Management
Managers, in particular, have a unique role in discussing made inventory suggestions. They can contribute to this business itself by paying specific attention to the decisions concerning order size, methods of stocking, or changes in the demand pattern (Munyaka & Yadavalli, 2022). They should define good working relations with the supply chain functionaries for proper forecasts and timely acquisition.
Lack of adequate inventory management will result in high holding costs and late expiration or expiration before they are used due to inadequate supply (Katsaliaki et al., 2021). Moreover, recommended inventory purchases not followed by leadership may lead to financial problems and operational problems and damage the medical center’s ability to address future healthcare issues, which may affect its reputation and success (Balkhi et al., 2022). Leaders must now act quickly and wait for inventory management strategies to be changed to favor their organizations and stakeholders.
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Implications of Inventory Control
Effective and faster stock management is one of the critical factors that has a significant impact on organizational performance in many aspects. They make the timely deployment of critical assets, which include the PPE, possible and enhance the organization’s ability to address the patient’s needs in the most appropriate and timely manner. Optimal inventory management reduces the amount of inventory that is held, which leads to cost savings and involves more resources that can be used effectively in other areas of healthcare delivery.
Further, it optimizes operative speed, minimizes the probability of stock – outs and enhances the service delivery of the organization (Balkhi et al., 2022). Therefore, sound inventory management contributes to the achievement of legal requirements, improves the healthcare safety of the patients, and establishes public confidence in the organization. Lastly, maintaining an adequate, efficient, and affordable promotion of a healthy climate in the healthcare setting is crucial, enhancing the organization’s efficiency and its ability to work effectively.
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Findings Based on EOQ and Organizational Data
From this year’s data, it is clear that for this institution, for example, in the Medical Surgical Unit and the Emergency Room, on average, SAMC employs around about 861,192 units of PPE daily. This proves that SAMC is on track with controlling the usage of PPE and securing enough for patients’ attendants. SAMC might have possibly utilized even more PPE than what was recorded in the records of the current financial year, 861,192.
The fact that the number of patients and the healthcare needs are dynamic also points to the need for flexibility in the intake and stocking of inventories. In the projected budget for the coming year, SAMC has an agenda for enhancing the usage of PPE. They had earmarked $6. Forty-five million per day is spent on procuring PPE; this is a smart move, considering the upswing in the number of patients and the costs of PPE.
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Summary of Findings and Recommendations
Data analysis shows a significant increase in PPE uptake this year, mainly influenced by the higher cases of COVID; hence, the increased flow of patients has a direct impact on PPEs. This increase will warrant a reconsideration of the targeted budget year due to the current pandemic and the resultant volumes of admitted patients, which will then determine the necessary PPEs.
A significant variation between the amounts suggested in the current year and the previous one points to the fact that the application of inventory management has to be flexible and proactive due to the nature of healthcare needs. Accordingly, the results call for reconsideration of the patterns of PPE procurement because their usage has risen significantly.
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Conclusion
Here, the presentation shows how vital efficient inventory control is in the promotion of organizations’ success. The concentration of ideas on the EOQ calculations, ordering systems, and consideration of specific strategies makes it crucial to develop flexible solutions to the constantly changing requirements of healthcare.
This inventory management is critical for fiscal management, patient care, and efficiency. This is with an understanding that cyclical budgeting and united supplier management require positive action because of the rapidly changing face of health care as a field that SAMC has to be ready for. Read more about our sample BHA FPX 4110 Assessment 1 Vila Health: Patient Flow for complete information about this class.
References
Balkhi, B., Alshahrani, A., & Khan, A. (2022). Just-in-Time approach in healthcare inventory management: Does it really work? Saudi Pharmaceutical Journal, 30(12), 1830-1835. NCBI.
https://doi.org/10.1016/j.jsps.2022.10.013
Fabregas, K. (2022, June 17). How to manage inventory effectively (2022 guide). Forbes Advisor.
https://www.forbes.com/advisor/business/software/how-to-manage-inventory/
IBM. (2023). What is inventory management? Www.ibm.com.
https://www.ibm.com/topics/inventory-management
Katsaliaki, K., Galetsi, P., & Kumar, S. (2021). Supply chain disruptions and resilience: A major review and future research agenda. Annals of Operations Research, 1(1), 965–1002. Springer.
https://doi.org/10.1007/s10479-020-03912-1
Luenendonk, M. (2021, July 7). Economic order quantity (EOQ): Definition, formula, and guide. FounderJar.
https://www.founderjar.com/economic-order-quantity/
Munyaka, J.-C. B., & Yadavalli, S. V. (2022). Inventory management concepts and implementations: A systematic review. South African Journal of Industrial Engineering, 32(2), 15–36. ResearchGate.
https://doi.org/10.7166/33-2-2527
Verbeek, J. H., Rajamaki, B., Ijaz, S., Sauni, R., Toomey, E., Blackwood, B., Tikka, C., Ruotsalainen, J. H., & Kilinc Balci, F. S. (2020). Personal protective equipment is needed to prevent highly infectious diseases due to exposure to contaminated body fluids in healthcare staff. Cochrane Database of Systematic Reviews, 4(4).
https://doi.org/10.1002/14651858.cd011621.pub4
Vrbová, P., Činčalová, S., & Kampf, R. (2020). Quantification of consigned inventory in relation to the Czech Republic. Transportation Research Procedia, 44, 115–120.