For example, technology like smart shelves, radio-frequency identification (RFID), and other hardware connected to inventory management systems-or even integrated with suppliers-can provide real-time information around critical supplies for easier access and more informed decision-making. Adopt automation : Remove manual processes-like spreadsheets-wherever possible and implement efficient digitalization of inventory management that goes beyond simply answering the question: Where’s my stuff? Interconnectivity that facilitates automated data transfer improves accuracy, reduces data loss, and increases productivity. In addition, established workflows allow labs to scale up more quickly when they invest in additional processes, technology, or personnel to improve inventory management efficiency.Ģ. This allows labs to have visibility into what’s needed where so consumables, samples, or equipment can be managed properly. For smaller startups, taking time to establish workflows helps leaner operations run more efficiently. ![]() For larger companies, workflow documentation can be invaluable for creating consistency across sites or regions. Develop established workflows : The foundation for effective inventory management starts with well-documented workflows that meticulously outline what needs to happen, when it needs to happen, and which researchers are involved. Consider these best inventory management practices:ġ. Taking a comprehensive approach to inventory management allows researchers to spend more time on high-value work that gets treatments to market faster and better positions pharmaceutical companies for success. Therefore, researchers tasked with inventory management must spend time identifying and eliminating wasteful, sometimes manual, inventory practices rather than focusing on scientific output. Drive for sustainability: Labs are increasingly challenged to move beyond recycling and reuse programs to develop comprehensive, integrated sustainability programs grounded in data.As a result, labs might run out of needed supplies-or they may overstock supplies, which raises inventory costs and takes up valuable research space. Supply chain unpredictability: From the COVID-19 pandemic to political unrest, the supply chain has been hampered by backlogs and shortages that can delay experiments. ![]()
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