Editorial – It may be time for vendor-managed inventory

Dr. Blach presses the thinking envelope again. He asserts that vendor-managed and potentially vendor-owned inventory may be closer than we think.

It is hard to imagine how this could happen since most practices and retailers cannot replenish inventory today based on a running forecast. Vendor-managed inventory would theoretically eliminate stock-outs, but integrating disparate systems and inventory management practices will be the big hurdle.

I believe some of this will come along with a steep learning curve. We frequently reference the human business and its advancements in supply chain management. Yet, we routinely struggle to have prescriptions on hand ahead of a 30-day refill date.

Source: Is My Practice Healthy?, January 28, 2017.

This week’s topics:

• Protect and promote your brand
• Depth and redundancy are important for every team
• Is real-time, on demand inventory in our future?
• Exemplary care is more than medicine
• Encore: Pay Yourself First