Optimize Inventory to Operate without Overstocking or Stockouts
IdeaRX effectively tracks inventory & reduces the opportunity for loss and theft. We help hospitals operate at optimal inventory through intelligent algorithms and instant alerts to facilitate proactive decision making. We leverage your purchase history, analyze buying patterns, establish reorder levels and minimum balance quantities for each item based on various algorithms and devise a fool-proof inventory control mechanism.
It is fact that hospitals tend to overstock by 100%. This is a more convenient approach by the staff as well as the management to avoid bounces or stockouts of critical items. But the impact of overstocking could be dangerous and is often unnoticed. Pilferages, Losses, Damages, Expiry, Non-Movement are all results of unplanned inventory. If curtailed during order processing, these can be negligible or even eliminated.
How it Works
IdeaRX's technology backed procurement solution has helped us save more than 15% on our purchases last year. IdeaRX is now helping us to bring down our inventory levels considerably and hence improve our cash flows significantly. With IdeaRX, we hope to soon completely outsource IT and Supply Chain for our entire network of hospitals. Apart from bringing in huge monetary value, we believe it this will help us focus even more on the single most important area of a hospital: "patient care”
“I started procuring few surgical items from IdeaRX after they provided me with some incredibly low pricing. Now, they handle my entire purchases. I am easily buying the same items and saving close to a lakh a month. They are a professional team who can deliver results immediately.”