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1. Discuss the concept of inventory management in a healthcare organization including the following questions:
a. Why is proper inventory management important?
b. Explain the four methods used to value inventory.
c. How can an organization reduce the value of inventory and the number of items in inventory?
d. What does an economic order quantity (EOQ or Qe) tell management?
e. What is the best way to evaluate inventory management performance?
2. Distinguish between strategic planning and operational planning, including a discussion of planning horizons, goals, management approaches, and who is responsible for implementing and evaluating for each. Why is intentional strategic planning so important?
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