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 ManagementBy: 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 • Errors in inventory and supply management can equal Financial hardships
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
Definition cont. • Inventory Management is the process of controlling equipment and supply stocks to maximize your supplies most effectively.
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
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.
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.
Monitoring • Automate the Inventory Process • Develop a continuous monitoring system • Easy and Quick access to inventory status • Computer and/or Manual
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
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?
Reminder System • Reorder • Based on inventory findings • X-marks the spot • Season • Fall, Winter, Spring and summer • Self Preference