With inventory representing very large percentage of assets

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Reference no: EM131399077

1. How could improved collaboration between internal and external partners improve SRM concepts and technologies?

a. Achieve the immediate objective of SRM to reduce paperwork, eliminate vendors and lower overhead costs.

b. Integrating purchasing departments, medical device suppliers and trading enhances the adoption of SRM concepts and technologies.

c. Reach long term goals which include patients and consultants to assist purchasing departments on device features, cost effectiveness of procedures and to lower enhanced costs.

2. With inventory representing a very large percentage of assets, how does one control costs?

a. Cost controls can be found through an inventory management system. Improved controls over demand, processes, supply, lead time and cost variances are some components.

b. Keeping the customer satisfied helps keep them loyal, insuring inventory will turn as negotiated.

c. The key to reducing inventory costs is to increasingly involve suppliers and vendors in carrying components for additional periods of time, thus lowering carrying costs.

Reference no: EM131399077

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