Why and Where to invest in India\u2019s Healthcare Industry<\/a>.<\/em><\/strong><\/p>\nThe task of different departments is defined separately. The task of the purchase department is to procure the inventory at lower prices without compromising on the quality. Also it is aimed at reducing the lead times with the suppliers so that the goods can be supplied soon. Inventory policy links the supply of goods to the consumption patterns so that overall inventory level can be reduced thus helping in saving cost. E-procurement is done so that the database gets updated automatically subsequent to each and every issue of material \/medicine etc to enhance efficiency.<\/p>\n
Supply Chain Improvement Opportunities<\/h3>\n
Following are the key areas where process improvement opportunities can be seen:<\/p>\n
i) Disaster Recovery<\/em><\/strong><\/p>\nDisaster recovery planning has lagged behind in supply chain which is a big problem in healthcare because in healthcare industry lives are at stake. Simply carrying large amounts of product inventory does not solve the issue. Effective action is to develop systematic contingency plans, which includes factors like alternative production sites, manufacturing flexibility, factory-direct shipping capabilities, offsite backup and critical safety stocks.<\/p>\n
ii) Supply Chain Integrity<\/em><\/strong><\/strong><\/p>\nQuality assurance is a crucial healthcare supply chain function as it ensures that the patients receive safe therapies. Technologies such as radio frequency identification (RFID), offer the prospect of ensuring supply chain integrity.<\/p>\n
iii) Network Complexity<\/em><\/strong><\/p>\nHealthcare supply chains are very complex. Hospitals are combining with clinics and other providers under common management. Manufacturers, distributors, and providers largely operate independently from one another. Thus it\u2019s high time when Healthcare supply chains need to move towards an integrated “demand-pull” model instead of demand push, so that manufacturers have much earlier and clear visibility into actual consumption.<\/p>\n
iv) Disintermediation<\/em><\/strong><\/p>\nThe prospect of disintermediation, moving product directly from manufacturers to providers, is growing stronger in healthcare supply chains. The explosion of network complexity is creating important opportunities for distributors to develop value-added partnerships with manufacturers and providers thus making the chain efficient. This repositioning will accelerate over time and will help them gain the market share who can facilitate the change on the other hand for those who try to stem the tide will lose both share and profitability.<\/p>\n
v) Value visibility<\/em><\/strong><\/strong><\/p>\nThe current pricing structures reinforce the inefficiency of the fragmented healthcare supply chains. Distributors negotiate volume discounts from manufacturers, and offer discounts to providers. Some distributors have driven up channel inventory by chronic forward buying against expected price increases. Clear visibility into value creation is lost in this chaos which is the precondition for major improvements in supply chain efficiency.<\/p>\n
Conclusion<\/strong><\/p>\nSupply Chain Management is not merely a buzzword rather it is a concept, a strategy and a approach which is proving its worth in hospital management not only in India but across the world. Statistically it has been seen that the hospitals which implemented\u00a0SCM\u00a0successfully have recorded a minimum 50% inventory reduction<\/em>, while a 40% increase in on-time delivery, doubling of inventory returns coupled with nine-fold reduction in out-of-stock rates.<\/p>\nThe supply chain can be regarded as the glass pipe where information about an order is completely visible, in the chain from top to bottom i.e., from supplier to manufacturer, to distribution center to transporter, to customer. Fully computerized procurement and distribution system let hospitals to run the\u00a0SCM\u00a0at the speed of thought. The tomorrow\u2019s supply chain management will be completely developed on artificial intelligence with the advent of rapid implementation of internet biotechnologies, integrated through effective sharing of data and cost saving at every point.<\/p>\n","protected":false},"excerpt":{"rendered":"
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