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Inventory Management By: Meghan Mattson. “Athletic Trainers have a financial reasonability to maintain control over the inventory of sports medicine equipment and supplies” Richard Ray. Why is Inventory Management Important?. It helps to increase efficiency

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Inventory management by meghan mattson l.jpg

Inventory ManagementBy: Meghan Mattson

“Athletic Trainers have a financial reasonability to maintain control over the inventory of sports medicine equipment and supplies” Richard Ray


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Why is Inventory Management Important?

  • It helps to increase efficiency

  • Errors in inventory and supply management can equal Financial hardships


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Definition

  • Inventory is the amount of materials or products kept in storage or currently available items

    • -James M. Rankin

      Athletic Training Management, Concepts and Applications


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Definition cont.

  • Inventory Management is the process of controlling equipment and supply stocks to maximize your supplies most effectively.


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The keys to Inventory Management

  • Acquiring an adequate supply to meet production

  • Providing safety stock in case of the unexpected

  • Investing in inventory wisely

  • Maintaining accurate and up-to-date records


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Tracking Your Supplies

  • Inventory Regularly

    • Check expendable supplies at least once a month.

    • Sites with Multiply training room’s should check inventory stock at each location once a week.

      • Gather reports of satellites to create a monthly inventory report.


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Storage

  • Centralize Storage

    • Keep in one location for easier management.

      • Mary’s Office (tape)

      • Zimmerli Building (everything else)

  • Helps to keep attentive to supply levels.

  • Prevents sudden or unexpected shortages.


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Monitoring

  • Automate the Inventory Process

    • Develop a continuous monitoring system

    • Easy and Quick access to inventory status

    • Computer and/or Manual


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Monitoring cont.

  • Computer

    • Lots of software's you can purchase

      • http://www.netsuite.com/portal/resource/edemo_main.shtml

    • Excel Spreadsheet

  • Computer

    • Sport Medicine Supple Checkout Form

    • Index Card


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  • Restrict Access

    • Primary Cause to inventory control breakdown

      • “To many chiefs not enough Indians”

  • Policies and Procedures

    • Who do you think should have access?

    • How would you control flow in and out of supply room?


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Reminder System

  • Reorder

    • Based on inventory findings

      • X-marks the spot

    • Season

      • Fall, Winter, Spring and summer

  • Self Preference



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