![]() Inappropriate inventory management results in substantial losses for healthcare organizations and negatively impacts the quality of patient care( Brandon‐Jones et al., 2014). These management systems help to protect organizations from both material and financial losses by maintaining an efficient and accurate record of items and supplies. Supply chain management in healthcare settings requires skills in managing costs, inventory forecasting, and space management, while inventory management involves in-depth knowledge of logistics and financial aspects of stock ( Dwivedi and Kothiyal 2012). ![]() Supply chain management is key for organizing workflow and tracking inventory, purchases, orders, and payments. Inventory and supply chain management primarily focuses on improving efficiency, controlling costs, and receiving and distributing the needed supplies on time to provide improved patient care( De Vries 2011). These activities are critical for their operations. Healthcare institutions are responsible for planning, purchasing, managing, handling, tracking, and transporting stock (e.g., medications, medical equipment, and supplies). hospitals waste approximately USD 25.4 billion each year on unnecessary supply chain spending( NAVIGANT 2018). Furthermore, the amount spent on inventory-related activities such as handling, storage, transport, and restocking inventories is extremely high, accounting for more than one-third of hospital budgets( Dennision et al., 1994, Kua-Walker, 2010). on hospital supplies such as disposable gloves and gowns every year( Scanlin, 1997, Kua-Walker, 2010). Approximately USD 83 billion is spent in the U.S. Inventory accounts for a large proportion of the costs of healthcare organizations (HCOs) ( Kelle et al., 2012). The healthcare industry has faced many challenges in improving quality of care and patient satisfaction while reducing costs( Moons et al., 2019). ![]()
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