SLP 3 Assignment: WORKING CAPITAL
SLP 3 Assignment: WORKING CAPITAL
In the majority of healthcare organizations, materials (including
pharmaceuticals and expendable supplies) comprise the largest
portion of the non-labor costs in the operating budget – thereby
making it deserving of our focus and study. Correct management
and control of your inventory has a direct and significant effect on
your financial operating costs, and therefore, the total net income
of your organization.
The process of materials management (the control of an
organization’s inventory, services, and equipment from acquisition
to disposition) allows for cost control and also allows the
organization to operate correctly – having enough of each needed
supply (medical, administrative, housekeeping, and/or clerical) on
hand at the precise time it is needed. Once you’ve read the
assigned background readings, as well as completed some peerreviewed research of your own, please answer the following:
What are the best practices in inventory management that
healthcare managers should implement and be consistent in
using?
How are each of the four methods of valuing inventory used by
healthcare organizations?
Choose one expendable item used in the healthcare setting, and
show the value calculation for 500 of that particular item, using
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