STANLEY Healthcare Enables Hospitals and IDNs to Automate Inventory Audit Processes with new SpaceTRAX Capabilities
WALTHAM, Mass., October 2, 2013 — STANLEY Healthcare, a market leading provider of safety, security and operational efficiency solutions for the healthcare industry, today announced a new solution to bring added functionality to the audit process of inventory management in hospitals, health systems and IDNs.
SpaceTRAX Version 2.4.6 offers a new web-based software tool enhancement that electronically incorporates physical inventory, cycle count, and variance management into a dashboard view in SpaceTRAX Point of Use. This new software enhancement is designed to simplify the current audit process through an intuitive dashboard user interface, enabling medical personnel to self-manage audits by eliminating the need to contact support for each step of the process phase, and providing greater visibility and actionable control of on-hand inventory.
According to an article published in 2010 by a team at PricewaterhouseCoopers in Materials Management in Health Care1, supply chain costs consume as much as 40 percent of the total operating budget, the second-largest expense for hospitals after labor. Furthermore, small improvements in supply chain performance can have an enormous impact on a hospital’s bottom line, helping to reduce supply chain costs by as much as 10 to 12 percent. Inventory optimization can account for 10 percent of the overall savings. As a result, many hospitals are turning to inventory management solutions to help reduce the impact of excess inventory and its associated cost.
With this new solution enhancement, STANLEY Healthcare demonstrates that it continues to address these challenges and leads the supply chain management industry in quality, efficiency and ease of use. The new audit tool enhancement brings added features to the STANLEY Healthcare product line while maintaining its intrinsic value:
• Quality: Helps provide the required supplies necessary for optimal patient care.
• Safety: Accurately manages expired and recalled products ensuring they are quickly removed from patient care areas.
• Efficient workflow: Offers easy to use software that ensures compliance through scanning at the point of use. SpaceTRAX reduces the time spent on managing inventory and completing inventories.
• Improved safety and regulatory compliance: Allows accurate, necessary reports as needed for compliance and review projects.
“We are excited to deliver additional functionality that our customers are requesting. Providing them the ability to manage their audit process such as editing, updating variances and deleting a scheduled audit gives them more autonomy to control their inventory management process. In addition, the new notification process keeps our users informed of internal support updates and allows us to track whether users are accessing the information,” said Joan Watson, Director of Supply Chain Solutions at STANLEY Healthcare.
1 Not Your Father’s Supply Chain: Following Best Practices to Manage Inventory Can Help You Save Big. Materials Management in Health Care magazine, vol. 19 no. 4; April 2010.
About STANLEY Healthcare
STANLEY Healthcare provides over 5,000 acute care hospitals and 12,000 long-term care organizations with enterprise solutions that transform safety, security and operational efficiency. The STANLEY Healthcare solution set enables customers to achieve organizational excellence and superior care in five critical areas: Patient Safety, Security & Protection, Environmental Monitoring, Clinical Operations & Workflow and Supply Chain & Asset Management. These solutions are complemented by consulting, training, implementation and integration services. STANLEY Healthcare is proud to be part of Stanley Black & Decker, Inc. For more information, visit www.stanleyhealthcare.com. Follow STANLEY Healthcare on Facebook, Twitter and YouTube.
stanleyhealthcare [at] lewispr [dot] com
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