Intalere, a healthcare group purchasing organization, highlighted how Mankato (Minn.) Surgery Center tackled product nomenclature inconsistencies, consignment inventory inaccuracies and inventory count inaccuracies.
Three takeaways:
1. Mankato Surgery Center created an Inventory Efficiency Workgroup. The workgroup discovered 7 percent of Item Master List products were either misidentified or involved inconsistent nomenclature, which took 60-plus hours to correct.
2. Staff removed vendor-owed inventory from the consignment list to accurately calculate inventory value.
3. The workgroup's efforts corrected the artificially high value of inventory, which had occurred as a result of shortcuts to save computer keystrokes.