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From ‘just-in-case’ to ‘just-in-time’ : Modelling the optimal stock level of reusable instrument sets of Medisch Spectrum Twente

Mercado Luévano, Samara Xarenit (2019) From ‘just-in-case’ to ‘just-in-time’ : Modelling the optimal stock level of reusable instrument sets of Medisch Spectrum Twente.

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Abstract:Hospitals are working hard to provide the best quality of health service to their patients, but their profitability is not showing the results for this hard work. This situation exists because as surgical specialists are aware that operating rooms are of the highest revenue generators for hospitals, the management department runs the hospital with the idea that the quality of their services is related with having ‘more is better’. The Medisch Spectrum Twente (MST) hospital wishes to improve its inventory system and procurement practices to augment its financial performance. However, such intentions have been tied up by their current just-in-case practices which have led them to keep high inventory levels just-in-case the instrument set is required by a surgeon. Further, MST does not have a policy to manage the inventory of reusable instrument sets. Consequently, the decision of purchasing and determining proper base-stock levels of instrument sets are taken on the basis of experience and intuition, rather than on the analysis of forecasted (changes in) demand. Moreover, important performance indicators have not been identified and measured, which hides the trade-off costs of having high inventory availability.
Item Type:Essay (Master)
Clients:
Medisch Spectrum Twente, Enschede, the Netherlands
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Industrial Engineering and Management MSc (60029)
Link to this item:http://purl.utwente.nl/essays/77111
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