Finding Purpose in Efficiency: Unleashing Your Potential in Healthcare Supply Chain
A hospital is nothing without the tools, supplies and medications it needs to treat patients. Getting supplies and products where they need to go is essential for any business, but it takes on a new meaning for the healthcare industry. Supply chain management in healthcare, or HSCM, ensures efficiency, reliability and cost-effectiveness across the healthcare supply chain.
From procuring appropriate supplies and pharmaceuticals to developing risk management strategies, supply chain efficiency enables healthcare providers to care for every patient properly and ensure consistent outcomes. The U.S. Bureau of Labor Statistics predicts a growing demand for supply chain logisticians across all fields, making it one of the fastest-growing industries. There are many in-demand paths to take in the world of HSCM, so we’ve compiled a few strategies to enter supply chain management in healthcare and determine if it’s right for you.
Examples of Supply Chain Management in Healthcare: Enhancing Procurement Processes and Ethical Sourcing
Discovering the perfect fit for your passion and ability starts with knowing your career path options. Here are some common healthcare supply chain careers.
Strategic Procurement:
Focuses on the smart purchasing of medical supplies and pharmaceuticals, ensuring that healthcare providers have the necessary items at the best possible cost and quality.
Inventory Management:
Critical to preventing stock-outs of essential medicines and medical supplies while minimizing waste through overstock.
Distribution Logistics:
Ensures the timely distribution of medical supplies and pharmaceuticals to various care settings, including hospitals, clinics and pharmacies, optimizing transport routes and methods for efficiency.
Demand Forecasting and Planning:
Involves predicting the future demand for healthcare services and required supplies, enabling proactive adjustments to supply chain operations to meet forecasted needs.
Supplier Relationship Management:
Essential for ensuring the reliable supply of high-quality goods and services, negotiating favorable terms and managing contracts.
Use of Technology for Automation and Digitization:
Implementing technologies like AI, IoT and blockchain to automate manual SCM processes, from ordering and invoicing to tracking inventory, enhances efficiency and accuracy across the supply chain.
Regulatory Compliance and Quality Assurance:
Ensures the quality of medical products and central aspects of healthcare SCM, requiring rigorous verification and monitoring of supply chain activities.
Risk Management and Resilience Planning:
Developing strategies to manage risks such as supply disruptions, natural disasters and pandemics ensures that the healthcare supply chain remains resilient and adaptable to unexpected challenges.
Is Healthcare SCM Right For You? Explore Strategies for Optimizing Inventory and Reducing Waste
Healthcare supply chain management creates opportunities for SCM logisticians to optimize current systems and use modern tools to implement new strategies. Implementing lean inventory management techniques, or strategies focused on only keeping the minimum amount of inventory needed to meet demand, is one way that HSCM strategists can create more efficient supply chains for hospitals and healthcare providers.
Adopting inventory models in healthcare supply chain management increases efficiency and reduces carrying costs. 21st-century tools like data analytics technology and healthcare supply chain software allow HSCM professionals to forecast demand and minimize excess stock while streamlining inventory tracking and monitoring processes.
How to Leverage Leadership Skills for Healthcare Supply Chain Management Excellence
Success in healthcare SCM starts from the inside out with solid leadership and a cohesive workplace. Leaders in HSCM need to cultivate a collaborative and innovative culture among employees while fostering open communication and knowledge-sharing.
Continuous learning and professional development create a flexible team that seeks constant growth and improvement. Every worker should be able to embrace agility and resilience in the face of supply chain disruptions, no matter the outcome, and advocate for sustainable and socially responsible supply chain practices at every stage.
Thrive in Healthcare Through Business: Begin with USD’s Master’s in Supply Chain Management
Extraordinary healthcare begins with excellent supply chain management. By enrolling in the Knauss School of Business’s MS in Supply Chain Management program at USD, future leaders can receive the preparation they need to efficiently and responsibly manage one of the most crucial systems in healthcare. The part-time supply chain management degree is designed for working professionals seeking to elevate their SCM skills, with the opportunity to specialize with a health care track for even more focused knowledge.
During their degree, students focus on sustainable solutions and ethical practices throughout the supply chain, from reducing waste to improving water conservation. Through a collaboration with the renowned Hahn School of Nursing and Health Science at USD, students in the healthcare track study healthcare leadership, values and social justice to prepare them for an impactful future in HSCM.
Healthcare supply chain management plays a vital role in the future of healthcare and our planet. Ethically minded professionals in HSCM have the opportunity to change how we view sustainability and transform supply chain management across the board. The Knauss School’s Master’s in Supply Chain Management can help leaders achieve excellence in healthcare supply chain management in any enterprise.
For more information, explore USD's MS in Supply Chain Management program.
