DATA-DRIVEN STRATEGY FOR OPTIMIZING CRYOPRESERVED PRODUCT INVENTORY MANAGEMENT

- This project addresses the challenge of managing excess product inventory to optimize resource utilization, reduce costs of holding excess products, and enhance departmental sustainability. - By leveraging data from electronic inventory management system, product usage trends, and product lifecycl...

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Bibliographic Details
Published in:	Cytotherapy (Oxford, England) Vol. 26; no. 6; p. S120
Main Authors:	Patel, R., Pham, T., Love, C., Beltran, J., Abello, G., Lim, L., Musa, E., Nderitu, A. Gichane, Pon, R., Bove, R., Ho, J., Monterola, G., Tadiar, H., Reddy, P., Phomsouvanh, B., Lepori-Bui, N., Diaz, N., McLeod, M., Lowsky, R., McIntyre, C.
Format:	Journal Article
Language:	English
Published:	Elsevier Inc 01-06-2024
Subjects:	Inventory Management LNF Discard Project LNF Discard Project Inventory Management
Online Access:	Get full text
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Summary:	- This project addresses the challenge of managing excess product inventory to optimize resource utilization, reduce costs of holding excess products, and enhance departmental sustainability. - By leveraging data from electronic inventory management system, product usage trends, and product lifecycle assessments, the project aims to identify and categorize products for discard, thereby free up valuable storage space. - Empower employees with Project Management training, equipping them with the skills to lead and implement improvement initiatives effectively. - Create a cross-functional task force with representatives from Operations, Quality, and management to develop efficient disposal processes. - Streamline workflow, reduce time wastage, provide personnel with training, and allocate dedicated teams to critical steps to alleviate potential bottlenecks. - Maintain 5S workstations for easy identification of areas needing attention and increase efficiency. - Develop a Smartsheet Dashboard to monitor progress, enhance project visibility, facilitate effective communication of resources requirements. - Utilize data from electronic inventory management system and patient database to create S.M.A.R.T. goals. - We found a viable strategy for immediate inventory reduction while emphasizing its potential impact for a more sustainable inventory management system to address increasing number of cryopreserved patient products. 1) Effectively communicated to management and physicians our need for space and consider requesting less backup doses. 2) Established and maintained a workflow, implementing a routine for staff to efficiently manage inventory space, with acknowledgment for all team members involved in the project. 3) With scalability in consideration, we expanded available inventory space from 85% to 80% capacity, achieving this milestone within 8 months.
ISSN:	1465-3249 1477-2566
DOI:	10.1016/j.jcyt.2024.03.227