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BIG Inventory: Enabling Lean Inventory through Professionalism and Technology
Chuck Phillips, CEO, BIG Inventory
Inadequate data and the dearth of learned staff for inventory management can lead to unnecessary costs, regulatory penalties, and even loss of patient life. However, managing the physical inventory at hospitals, clinics, and other care facilities is daunting, to say the least. Founded in 1985, when BIG Inventory decided to switch from retail to healthcare inventory management several years ago, it came up with a winning formula of combining healthcare professionals with technology for efficient results. BIG calls this formula, BERTHA—Bringing Employees, Resources, and Technology to Hospital Audits.
“Unlike other service providers that rely on temporary staff with a superficial knowledge of medical inventory and code of conduct, we have harnessed a specialized career-oriented staff that follows industry best practices to support care delivery,” says Chuck Phillips, President, and CEO of BIG. “Our employees deployed at the client locations and facilities across the US bring value to every engagement and interaction with their knowledge of the products, equipment, and various other aspects that are typical of a medical facility’s supply chain.”
"BIG’s clients save big on time and resource utilization"
BIG follows a unique business model where it employs a Project Manager at the client site and a QA Monitor at its central office. The two coordinate seamlessly to counter any challenge in the clients’ inventory management. In case of discrepancies in the stock, the QA Monitoring Officer will analyze the inventory data in the backend systems and share the key information with the Project Manager, who will go ahead and validate the data onsite. With its real-time monitoring and ongoing validation strategy, BIG provides inventory reports in 3-5 business days as opposed to several weeks/months taken by its competitors.
we have harnessed a specialized career-oriented staff that follows industry best practices to support care delivery
BIG’s professionals leverage the company’s technology system to guide clients in rightsizing their inventory. Built in-house to meet the unique needs of the healthcare industry, the analytics-based system provides actionable insights. So teams can track every single item with ease and streamline the inventory management on behalf of the clients in a transparent manner.
The technology works equally well for the clients’ periodic as well as perpetual inventory needs. “Our technology can work with the different systems deployed at the client location for inventory management to deliver accurate results. The reports generated through our system are granular as the system takes into account the items present in the individual carts, cabinets, and shelves,” says Phillips. Using this data, clients can generate insights and make decisions accordingly. In addition, after submitting the final report to the client, BIG provides them the year-on-year comparison of their inventory at no extra cost. As a value-driven company, “We innovate with new reports that improve our clients’ insights into the supply chain and help them be more efficient and lean,” says Phillips.
BIG’s clients save big on time and resource utilization, as well. For instance, one of its clients having a very large cath lab was spending hundreds of man-hours on counting the physical inventory and recording them in a spreadsheet. When the client sought BIG’s help, the latter pressed a small team that carried out the same task in just four hours. BIG has turned the corner for many of its clients with its professional touch and attention to detail. “We are extremely proud of the work culture that we have nurtured over the years at BIG,” Phillips adds.
BIG takes its value proposition to the next level through collaboration with its sister company, which is into consulting. While BIG brings the actionable data helping facilities restructure their inventory and improve their workflow, the consulting company leverages the same data and works closely with the facilities’ supply chain executives for improved inventory.
Description BIG Inventory offers industry-leading professional hospital inventory services which allow for error capturing and ensuring everything goes well. IG Inventory chooses to utilize fewer personnel who select hospital inventory as their career rather than using large numbers of people from temp services or for a single job. This decision allows them to create higher levels of productivity while insuring the highest level of overall accuracy. BIG Inventory chooses to work diligently on the clients' files weeks in advance of their scheduled hospital inventory to remove/reduce duplicates, manufacturer naming errors and UOM issues. Once this data is loaded into the system, BIG Inventory uses it to validate each and every entry per capture
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