The Role of Data in Inventory Management

How to harness data to garner greater product visibility and insights.

By: Katya Hall

Read time: 1 minute

In a perfect world, hospitals and health systems would have the perfect balance of drugs to meet needs without carrying excess inventory. In this imperfect world, that rarely happens. But pulling together inventory reports can provide valuable information to manage your supply and demand. A partnership with a distributor like McKesson can help you use this data to garner greater product visibility and insights.

Here are a few ways our supply chain analytics tools help.

Supplier accountability

Using advanced analytics and machine learning, McKesson has developed more accurate forecasts to communicate demand to suppliers. This data improves the ability to source the right levels of inventory, holds suppliers accountable and delivers on commitments to customers.

More accurate demand forecasts

Using proprietary methods, McKesson can more accurately forecast demand fluctuations in advance of customer needs, identify at-risk items and be ready with inventory at the right time in the right place. This predictive data allows purchases of inventory ahead of disruptions to meet demand.

Expanded sourcing capabilities

Private label solutions allow distributors like McKesson to secure supply at competitive prices to expand the sources of needed inventory. By partnering with McKesson, health systems can leverage this experience and expertise to achieve coverage.

Critical items inventory

The right distribution partner can lessen the burden of maintaining supply reserves without the physical storage. McKesson’s proprietary program sequesters your most-requested critical items at our distribution centers. The extensive network allows for as soon as next-day delivery.

Product tracking visibility

A cloud-based platform for exchanging distribution data with major carriers like FedEx and UPS further improves shipping visibility in a one-stop, real-time experience. This data can drive predictive analysis and process improvement.