Before discussing how IoT can improve the inventory management system of the healthcare industry, let us know what inventory management is. It will make it easier to understand the improvement made by IoT in this system.

What is inventory management?

A system that helps businesses to manage the stock of the things required for continuing their production and their location is known as the inventory management system of those businesses. 

It is a time-based process that ensures to refill the stocks of any item in the inventory before it gets short or out of stock. So, by maintaining the stock of the supplies, inventory management can help in maximizing the productivity of the business.

But, today, many industries fail to implement this system successfully because of its outdated procedures like counting items physically as well as preparing spreadsheets, etc. 

According to a survey conducted by JD Edwards EnterpriseOne, the improvements made by IoT in inventory management can help even small businesses in improving their productivity by tracking their inventories effectively.

According to this survey, inventory management can be improved by using the techniques of IoT so that businesses of all sizes can enhance their productivity by monitoring their inventories in real-time.

Real-Time Communication

It is one of the basic advantages experienced by a healthcare facility. The communication between the patients and the healthcare providers can be improved by using IoT with the inventory management system of the hospital or doctor’s office. 

By enhancing the capabilities of communication, everything in the inventory management system can be made valuable regardless of the size of the facility, especially if tracking inventory of cloth face shields to be used by hospital staff and patients. 

Detailed and precise monitoring of the location of the items

By using IoT in the inventory management system of a healthcare facility, you can quickly know the location of every item registered in the inventory. Every item ordered by the facility will be tracked in the transit, scanned into the system after receiving it, and recorded when delivered. 

The techniques of IoT will enable the inventory management system to check the condition of the package during the transit but also the condition of the items inside the container. The tracking of every item in the inventory will be tracked by IoT until it is finally written off from the inventory due to any reason, consumption, or some other use. 

IoT can also help in micro-tracking certain items in the inventory of a healthcare facility that has a barcode or RFID chip on their package in a very cost-effective manner.

Remote collection of data

The physical intervention of people can be controlled effectively by using IoT to manage the inventory of a healthcare facility. The doctor can know about the condition of his patients automatically if both of them have connected devices. 

It will help him to check his patients regularly even without visiting him physically and maintain the record as well as suggest the medication according to his symptoms. 

Similarly, patients can also contact the doctor without moving out of his home to discuss his health condition in special circumstances by using devices connected to the inventory management system of IoT.

Management of stockroom

The logistics of a warehouse or stockroom can be managed effectively using the inventory management system backed by the technology of IoT. 

It will help the head of a healthcare facility to manage the activities in the stockroom of the facility and the space available in it effectively, even without visiting there personally. By using this system more frequently, one can easily manage the space in the stockroom or warehouse by adjusting the space between the used items. 

You can also manage the storage bins and shelves in the stockroom by using an IoT based inventory management system in them. They will communicate about the space available in them.

Management of fleet or equipment Inventory

If your hospital management has ordered specific equipment, then you can use an inventory management system supported by IoT to track the fleet as well as the condition of the package during transit. 

You can collect data of the vehicles in the fleet as well as of the equipment by using a GPS tracking mechanism. In this way, you prevent misuse of the equipment or losses by using the data collected by tracking it during transit.