The IUP Journal of Operations Management
Combined Effect of Just-in-Time and Vendor Managed Inventory Elements in Hospitals

Article Details
Pub. Date :Nov, 2019
Product Name : The IUP Journal of Operations Management
Product Type : Article
Product Code : IJOM11911
Author Name : Amit Raman and Amit Kumar Dubey
Availability : YES
Subject/Domain : Management
Download Format : PDF Format
No. of Pages : 11

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Abstract

The hospital sector is moving toward diversification, which needs high product variety to meet demand variability, which leads to many managerial problems in production, planning, forecasting, inventory management, production system, and timely distribution. Hospitals must increasingly focus on gaining competitive advantage through effective management of their supply chains. Inventory performance directly connects to the success of supply chain management. This paper identifies various Just-in-Time (JIT) and Vendor Managed Inventory (VMI) elements which are important to both the customer and the manufacturer (vendor) in the Indian context. The paper presents the relative importance and difficulties in the implementation of JIT and VMI elements in the hospital sector and verifies the data with the help of Analysis of Variance technique and also identifies the JIT and VMI elements which are most important and easy to implement in the hospitals.


Description

Just-in-Time (JIT) system is a new way of thinking about manufacturing planning and control in hospitals. Just-in-time is a manufacturing philosophy which aims at having the right part at precisely the right time, and in the right quantity to go into assembly. Vendor Managed Inventory (VMI) that began in 1980, promises a win-win situation for both buyers and suppliers. Today fundamentals of VMI have been extended to the hospital sector as well as retailing. VMI greatly reduced inventory carrying costs and stock out problems in hospital sector, while at the same time, it offered the ability to synchronize both inventory and transportation decisions in hospitals.


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