Jump Technologies, an innovative software company with solutions that improve supply management and BIG Inventory, a professional inventory service company that helps hospitals conduct physical inventory in all medical-surgical and clinical areas, announced a partnership to help health systems improve end-to-end inventory visibility and management, while increasing efficiency and cost reductions.
Supply chain costs represent the second largest and fastest growing area of expense for hospitals. With the ever-increasing need for greater cost reductions, improving the management of inventory presents a significant opportunity. As many hospitals continue to rely on par approaches to inventory replenishment, which grow less accurate over time due to ongoing estimation of supplies, conducting an expert, accurate physical inventory to understand supply levels, then managing supplies with accurate tracking and velocity reporting, can help healthcare systems reduce inventory levels by as much as 20%.
With this partnership, BIG Inventory and Jump Technologies are aligning their resources to help provider organizations improve the management of supplies, from the time they enter the health system until they are used in patient care. BIG Inventory brings expert resources to plan and conduct an organization’s physical inventory throughout the hospital, including all medical-surgical and clinical areas. Working with BIG Inventory, hospital supply chain leaders can manage this labor-intensive task without tying up internal resources. Then with an accurate picture of on-hand inventory, hospitals more efficiently shoulder the ongoing management of supplies using JumpTech’s cloud-based solutions, which provide visibility from demand-to-use, increasing the accuracy of supply replenishment and helping eliminate overstocking and stock-outs.