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Inventory Management with RFID Reduces Costs, Improves Efficiency and Increases Safety

The Problem

Sharp Memorial Hospital Pharmacy Department annually spends over $22 million on pharmaceuticals. Sharp estimated that thousands of dollars could be saved every year, if they could both lower par levels and identify drugs that were expiring within their return window.

To reduce errors, Sharp uses ADCs. Despite this, Sharp identified a number of potential failure points in the ADC filling/dispensing process. The two critical issues underlying many of the failure points are:

Barcode scanning requires a manual step conducted by a human operator.

 

Because the human operator is not required to scan each medication individually when it is dipensed or restocked, mistakes are missed.

 

Additionally, ADCs do not provide an automatic way to inventory stocking levels or expiry data.

The Solution

Sharp Memorial Hospital Pharmacy Department installed the Intelliguard Inventory Management System stocked with 26 high-value, critical dose drugs representing nearly $350,000 of inventory.

The Intelliguard® Inventory Management System enables automated inventory management of high value drugs for only a fraction of the cost of the drugs to which they are applied.

The Results

  • One-time inventory reduction due to reduced par levels from automated re-ordering and just-in-time delivery
  • Reduced daily inventory spend by 17.2%
  • Reduced daily inventory quantities by 10.6%
  • During the 15 months of the study, there were no stock outs and no medications expired unused

PRODUCT LITERATURE