Par Level Vs Kanban Methods - Which One For Hospital Material Management?

We have uncovered an opportunity that could mean millions of dollars in savings to individual hospitals, and billions of dollars to the healthcare system nationally in the US and abroad. It has to do with how most hospitals manage supplies, medications and other materials.

Many, maybe most, hospitals manage their inventory of supplies and medications using what is called a "par-level" method. It works like this: a stocking quantity is established for each item, the par level, based on average usage and a target number of days supply. We might, for example, set a goal of maintaining a two-day quantity of material for each supply item. As the material is actually used, we would bring the quantities "up to par" daily, by conducting a physical inventory and restocking the quantity that was consumed. The goal, sensibly, is to not run out of supplies while maintaining a tight control of storage space and inventory quantities. So far so good.

Risk Management

Fashion To Go Fashion To Go Buy Elite Buying Ideas Buying Tags Cheap Sales Custom Items Daily Corner Daily Item Daily Tags Easy at Home Easy Purchase Ed-Buy Online Elite Market Elite Zone E-Shopping Mall Gift Shopping I-Shopping New Prices New Price Tags Online Grocery Shop for Online Shop In Style Shopping Cart Shopping Day AZ Shopping Cart Brand Sales 24 Hours For Gifts

It is interesting to note that this par method of inventory control is not used in a world-class manufacturing environment, although a manufacturer certainly has the same needs and goals for inventory control as a hospital. The suggestion that we do a daily physical inventory for a large number of inventory items would be greeted with astonishment and ridicule. Many world-class manufacturing companies do not even conduct an annual inventory, by sustaining a high level of inventory accuracy through tight controls and cycle counting.

Par Level Vs Kanban Methods - Which One For Hospital Material Management?

The method of choice in manufacturing for commonly used items is called Kanban. In a Kanban system, as with the par level method, we set a target quantity that we want to maintain. The principal difference is that instead of attempting to bring quantities "up to par" daily, in a Kanban system we set a fixed quantity that we will use to trigger the replenishment of inventory. In a "two-bin" kanban system, for example, we set up two quantities or bins of the same supply, and only refill a bin when it is empty. While the bin is being refilled, we have a second bin to cover usage during the replenishment cycle.

The Kanban method has seven main advantages over a Par-level system:

1. No daily counting is needed. We wait for a bin to be emptied and always replenish the same quantity. Not having to count can save hundreds or thousands of hours per year in most hospitals.

2. It reduces the number of resupply trips. Since we do not refill a Kanban bin daily, but instead wait for it to be empty, the number of replenishment trips can be reduced significantly. The number of replenishment cycles can be cut by 50% or more.

3. Replenishment quantities are fixed. The refilling process is greatly simplified by eliminating the need for counting required by the par system. If we know ahead of time what the refill quantity will be, the item can be stocked in that quantity.

4. It is easier to manage and improve. By tracking the time between replenishment, the stocking quantities can more easily be refined and adjusted over time. This continuous improvement is more difficult to accomplish if all quantities are refilled daily, in varying quantities.

5. Kanban reduces inventory. Experience proves that, with the same target coverage of supplies, a Kanban system will run with up to 50% less inventory than a par system.

6. It is easier to maintain replenishment discipline. Since they do not have to count all inventory locations, or eye-ball the empty bins, supplies handlers find it easier to identify and refill the empty bins, thereby substantially reducing the opportunities for shortages.

7. Kanban promotes good inventory management practices, while the par level does not. In fact, counting everything is essentially impossible and very labor intensive, and most par-level users simply "eye-ball" the bins without counting. Organization and housekeeping, "5S" in lean terms, is much easier to maintain.

For all of these reasons, Kanban is the method of choice for hospital material management, for much of the material that is procured and managed. The gains in productivity, reduced shortages and reduced inventory represent a multi-billion dollar opportunity for the industry.

Par Level Vs Kanban Methods - Which One For Hospital Material Management?

Richard Rahn is a Principal with Leonardo Group Americas, an international Lean consulting and training company based in Colorado. Richard can be reached at 303-494-4404, at rrahn@leonardo-group.com and at the websites http://www.leonardogroupamericas.com and http://www.leanhospitalgroup.com.

watches cell phone Cheap Beck Arnley 104 1256 Transmission Mount Best Cheap Oes Genuine Auxiliary Fan Assembly For Select Cheap Deals Valueflex Gs Red Air

Our Economic Mess - Who to Blame and Solutions

After all of the media attention I had to think about this economic mess we are in and decided to do some research into who were the key players and what the largest factors were. Some may not agree with my opinions which is okay.

It is impossible to blame the current state of our real estate crisis on one person, company, administration or political party. However we can look back to an administration (Clinton) that "pressured" risk based lending which inevitably opened the flood gates for irresponsible lending guidelines. The cause was noble but the execution was disastrous. Fannie Mae stockholders were excited about the idea as well as they saw an opportunity to increase their profits so they too should be held accountable. See this "The New York Times" article written September 30, 1999*

Risk Management

Fashion To Go Fashion To Go Buy Elite Buying Ideas Buying Tags Cheap Sales Custom Items Daily Corner Daily Item Daily Tags Easy at Home Easy Purchase Ed-Buy Online Elite Market Elite Zone E-Shopping Mall Gift Shopping I-Shopping New Prices New Price Tags Online Grocery Shop for Online Shop In Style Shopping Cart Shopping Day AZ Shopping Cart Brand Sales 24 Hours For Gifts

As I began my career in loan origination I was astounded that lenders would offer payment option arms to people with spotty credit. I do not curse these loan programs however because people with excellent credit tend to have the discipline and resources to responsibly use these loans to their advantage. One bank (I will not mention their name) was offering payment option arms to borrowers with a credit score as low as 530 with no income or asset verification!

Our Economic Mess - Who to Blame and Solutions

I am a mortgage broker not a Wall Street Firm and even I saw the writing on the wall. How could the Wall Street Executives and Pension Fund managers turn a blind eye to these lending practices? I believe this "pressure" from the Clinton administration and stockholders of Fannie Mae gave banks the green light to package up junk and sell them as highly rated mortgage backed securities (MBSs) to unsuspecting investors. This is reflected with current losses sustained in many 401k, IRA and pension funds that invest heavily in these types of securities because they are considered "safe".

If find it hard to believe that any administration would pressure Fannie Mae and not consider oversight on the rating of these bonds. I think these policies hyper inflated the measurements of productivity and growth in our country causing a public perception that I can have anything I want no matter what the cost. I do not blame one party for this but I do blame a few powerful Washington players that shaped the past lending environment.

If credit challenged borrowers want to be able to secure financing to buy property then I believe private money would have been the key. If private investors do not want to lend to someone after reviewing their credit, income and assets then this should send a loud and clear message that these people are not in a position to borrow at this time.

So now we are faced with the same entity that helped to create this mess (our government, with special thanks to Representative Barney Frank) trying once again to make policies to shape the rules of lending. FYI, I am not a staunch proponent of the Bush administration but you should know that Barney Frank opposed a Bush administration proposal in 2003 for transferring oversight of Fannie Mae and Freddie Mac from Congress and HUD to a new agency that would be created within the Treasury Department. The proposal reflected the administration's belief that Congress "neither has the tools, nor the stature" for adequate oversight.

Frank stated, "These two entities are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

To read more of how Barney Frank contributed to this mess scroll down to read Fannie and Freddie on his bio at Wikipedia and type in his name.

Had our government kept their nose out of private banking and passed the oversight to the Federal Reserve I believe we would not be in this mess. Private firms have managed well in years past with minor supervision. When a government pressures or provides incentives to private companies to ease up on their risk mitigating policies I place more blame on government officials than I do on the private industry. In a nutshell I believe our officials encouraged and rewarded bad behavior for political gain which fed off of itself creating opportunities for big banks to make huge profits.

Solutions!

I propose:
I believe the state of our economy is 20% real and 80% perception. We all know that quick and radical changes are needed but what changes?

One idea: I propose we eliminate our complicated tax system and adopt the fair tax proposal. http://www.fairtax.org

What I find most attractive about this plan is the fact that revenue will be collected by the federal government on all monetary activities including those that they do not currently collect on like illegal activity, immigration, side work etc. For example: Drug dealers, illegal immigrant workers will make money and will eventually spend a good portion of it in the US. When they do our federal government would receive revenue. Although I do not condone illegal activity the fact remains that it does occur and those people especially should not be excluded from contributing. Currently law abiding tax payers are paying for all of the roads and other federally funded projects that these people use but do not otherwise contribute.

Knowing there are millions of illegal workers in the US one has to wonder how many billions of dollars in funds to be used for our infrastructure and federally funded programs are being squandered. This could be a chance to reduce the taxes we tax payers have to pay giving us "buying power". Some argue that the tax would be too difficult to collect. Then how in the world are individual States collecting their sales taxes? Some argue people won't buy homes without the tax deduction, I say nonsense. Let me keep all of the federal income and social security taxes I pay and I will be willing to upgrade my house!

Another idea: Currently we are providing billions to banks to allow them the funds to lend to consumers. However, many of these banks are hoarding cash and not lending. For all future TARP funds why not reimburse banks for the money that has already been lent instead of providing them money "in hopes" that they lend?

Last idea: Stop collecting federal income taxes on people and businesses for a few months. If the Federal Reserve is going to print money why not give it all to the federal government to keep it running in the absence of taxes? Dealing with the logistics of distribution and the added cost of that distribution makes it less effective. Not to mention it and would reduce the uncertainty of who gets what and how much.

Our Economic Mess - Who to Blame and Solutions

*http://query.nytimes.com/gst/fullpage.html?res=9c0de7db153ef933a0575ac0a96f958260&sec=&spon=&pagewanted=all

Nevin Williams is a branch manager for First Priority Financial in Cary North Carolina. He is licensed to originate loans in California, Oregon North Carolina and Washington. You may contact: (888) 206-5781 x 1017
nevin@nevinloans.com
http://www.nevinhomeloans.com

mobile phone watches Cheap Deals Oes Genuine Air Conditioning Temperature Switch Buy Niagara Cutter Rfcb444 Cobalt Steel End Mill Cheap Hvr 4400Hd Dvb T S S2 Pcie

Intra-Articular Injections For Pain Management

In cases of severe pain, patients often seek medical help and advice on the best possible solution or course of treatment for the pain. One such treatment is the intra-articular injection for pain management. An intra-articular injection is one that is placed within the cavity of a joint. This form of pain relief will most often be administered when the patient has followed other courses of pain management to no avail.

Intra-articular injections for pain management are administered to patients with pain of the joints of the body. Specific conditions indicating the administration of intra-articular injections for pain management include relief of inflammation causing a reduction in range of motion or normal daily activity and administration of corticosteroids to the site of joint inflammation to relieve cases of severe, seemingly untreatable, pain.

Risk Management

Most often associated with joint disorders or conditions such as joint replacements and arthritis of the joint, the anti-inflammatory and pain medications can be delivered to the immediate causal site of the pain as opposed to utilization from the bloodstream or digestion. The injection thus decreases the inflammation of the area and relieves the pain associated with the inflammation.

Intra-Articular Injections For Pain Management

During the administration of an intra-articular injection for pain management, the patient may feel pain and pressure from the needle. In most cases, lidocaine will be injected into the site of the pain along with the pain medication in order to lessen the localized pain from the injection. In cases of severe pain, nitrous oxide (laughing gas) has been used to calm the patient before injection.

Intra-articular injections for pain management have been used for many years, the success rate of the injections depends greatly on the overall condition of the joint and the medication administered during the injection, as well as the accurate placement of the injection into the joint.

The possible side effects associated with the intra-articular injections for pain management include: hypercortisonism, Cushing Syndrome, hyperglycemia and infection. These side effects are very rare and are most often associated with intra-articular injections given too frequently to the patient.

Intra-Articular Injections For Pain Management

Summer is a professional freelancer working with an experienced writing team consisting of Summer and her husband. With more than 5,000 online publications, she specializes in Internet marketing, SEO web content, and article writing.

See www.MarriedandWriting.com for a FREE eBook on SEO secrets and start building a website you can market all the way to the bank.

watch mobile phone Best Buy 18X10 50X10 Multi Trac Tire Carlisle Cheap Deals Oes Genuine Air Conditioning Temperature Switch Buy Veratex Prima King Comforter Set Multi For

Risks That Small Businesses Face

Every business faces a certain degree of risk; some of them can be controlled if appropriate action is taken to do so where as some are largely unpredictable and uncontrollable. Even when every aspect of the business is carefully considered and carefully planned and executed, a business could still face closure due to some factor that was beyond its control such as fire, tornado, tsunami, hurricanes, earthquakes, floods etc. When you carefully identify the risks that your business faces and take action accordingly to counter the risk, the business will certainly be successful.

Types of Risk for Small Businesses:

Risk Management

Some of the risks that small businesses face are overhead cost, cost of equipment, expected sales volume, salary cost, taxes, price charged for service or product, competitor's actions, the local economy, changing trends, risk that the product may become obsolete. Other risks include damages from fire, water, natural calamities, intentionally inflicted damages, loss of data and property due to theft, machine breakdown forcing work to come to a standstill, cash flow problems that may force a business to close.

Risks That Small Businesses Face

Every sector has its set of risks and the responsibility of the owner is to identify study and counter these risk factors. Loss of records due to fire or other such risks will make it impossible to determine the financial transaction details such as who has to pay or who has to be paid, making it impossible to bill or collect from customers.

Failure to obtain all necessary licenses and permits may be a risk that could close the business. Employees that may embezzle, liability losses, public liability, liability to employees, business could close temporarily due to ill health of its owner or due to his death, when a key employee who was invaluable is unable to continue etc. are some other risks that may hinder small business from functioning normally. When cash flow forecasts are inaccurate, the business runs the risk of taking bad decisions that could have been prevented such as applying for a large amount of loan that the business cannot really afford. Selecting unqualified personnel as key employees, disgruntled employees can be a risk too, as they can take a business to the cleaners suing the company no matter if they are right or wrong etc. are other types of risks for small businesses.

Insurance:

When you consider insuring your business, your agent would have identified all insurable risks and would have advised you to take certain precautions to counter/prevent them. However, the types of risks for small businesses vary according to the nature of the business, hence the owner should himself, also make an effort to identify the risks and effect good risk management techniques.
Several firms offer their service as well as products that help in running a business easily.

Risks That Small Businesses Face

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at .95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

Business Owners all across the country are joining "The Community of Small Business Owners” to receive and provide strategies, insight, tips, support and more on starting, managing, growing, and selling their businesses. As a member, you will have access to true Millionaire Business Owners who will provide strategies and tips from their real-life experiences.

watches cell phone Cheap Deals Reference 3 Coaxial Digital Cable 1 Cheap Beck Arnley 104 1256 Transmission Mount Best

Rental Property Management - Ten Questions

Why hire rental property management? Because doing it all yourself is the surest way to make your real estate investment experience a bitter one. You also have more time to find the next deal when there is someone taking care of the details for you. Hire a good property manager, but first ask the following questions.

1. How much is the fee? Fees vary around the country from as low as 4% of gross rents for larger buildings, to as high as 12% for single family homes. Be sure the fee is clearly stated and understood.

Risk Management

2. What other properties do they manage? It is best if they handle rental properties that are similar to yours. It is also helpful to drive by their other properties to see how they are maintained.

Rental Property Management - Ten Questions

3. Who will actually handle your property? It is best if one person handles your building all the time. They should also have some experience. Get their name.

4. What costs extra? Is it extra for showings? Do evictions cost extra (beyond the legal fees)? Any other extras?

5. How is the fee collected and when? Will you be billed, or will it be deducted from your account directly? Monthly? Quarterly?

6. What type of advertising? How do they advertise the units and what does it typically cost you?

7. Cost and time to prepare units? What is the typical cleaning fee on a vacancy, and how long will it normally be before it's rented out again?

8. What needs owner approval? What dollar amount needs your authorization, and is this negotiable?

9. Hours of operation? What are their business hours, and who takes weekend calls?

10. Accounting? What reports do they send? How often? How are accounts set up?

There are probably other questions you'll have as well, based on your particular needs and the particular property. Ask everything up front, and you'll have fewer misunderstandings. With good rental property management, real estate investing is a lot less stressful.

Rental Property Management - Ten Questions

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for ,500, visit http://www.HousesUnderFiftyThousand.com

watches mobile phone Cheap Mephisto Women S Natala Loafer

Working Capital Management

Financial management decisions are divided into the management of assets (investments) and liabilities (sources of financing), in the long-term and the short-term. It is common knowledge that a firm's value cannot be maximized in the long run unless it survives the short run. Firms fail most often because they are unable to meet their working capital needs; consequently, sound working capital management is a requisite for firm survival.

About 60 percent of a financial manager's time is devoted to working capital management, and many of the potential employees in finance-related fields will find out that their first assignment on the job will involve working capital. For these reasons, working capital policy and management is an essential topic of study. In many text books working capital refers to current assets, and net working capital is defined as current assets minus current liabilities. Working capital policy refers to decisions relating to the level of current assets and the way they are financed, while working capital management refers to all those decisions and activities a firm undertakes in order to manage efficiently the elements of current assets.

Risk Management

The term working capital originated with the old Yankee peddler, who would load up his wagon with goods and then go off on his route to peddle his wares. The merchandise was called working capital because it was what he actually sold, or "turned over", to produce his profits. The wagon and horse were his fixed assets. He generally owned the horse and wagon, so they were financed with "equity" capital, but he borrowed the funds to buy the merchandise. These borrowings were called working capital loans, and they had to be repaid after each trip to demonstrate to the bank that the credit was sound. If the peddler was able to repay the loan, then the bank would issue another loan, and these were sound banking practices. The days of the Yankee peddler have long since pasted, but the importance of working capital remains. Current asset management and short-term financing are still the two basic elements of working capital and a daily headache for the financial managers.

Working Capital Management

Working capital, sometimes called gross working capital, simply refers to the firm's total current assets (the short-term ones), cash, marketable securities, accounts receivable, and inventory. While long-term financial analysis primarily concerns strategic planning, working capital management deals with day-to-day operations. By making sure that production lines do not stop due to lack of raw materials, that inventories do not build up because production continues unchanged when sales dip, that customers pay on time and that enough cash is on hand to make payments when they are due. Obviously without good working capital management, no firm can be efficient and profitable.

Statements about the flexibility, cost, and riskiness of short-term debt versus long-term debt depend, to a large extent, on the type of short-term credit that actually is used. Short-term credit is defined as any liability originally scheduled for payment within one year. There are numerous sources of short-term funds, such as accruals, accounts payable (trade credit), bank loans, and commercial paper. The major elements of current liabilities are trade creditors and bank overdrafts, and these are further analyzed.

Working Capital Management

Jonathon Hardcastle writes articles on many topics including Finance [http://letstalkaboutfinance.com/], Business [http://businessworldnow.net/], and Real Estate [http://yourealestatesource.com/]

cell phone watches Best Buy Depo 335 5409R3Efh Texture Black Passenger Buy Niagara Cutter Rfcb444 Cobalt Steel End Mill Cheap Hvr 4400Hd Dvb T S S2 Pcie

Risk Management - Sub-Contractors

Risk management and assessment of sub-contractors and suppliers must start early in the life of a bid. As soon as the need for bought in items is identified and a list of potential sub-contractors created, the risk management process kicks in.

Risk assessment of sub-contractors becomes more essential, the more complex the item of supply and the fewer suppliers there are to choose from.

Risk Management

The amount and importance of risk management goes in this order, starting with the most difficult:

Risk Management - Sub-Contractors

If the system requires a complicated piece of modified software based on an existing proprietary software, then due to copyright issues, only the original owner of the code can be approached to change it as required. This is a sole source supply involving software development, which is notoriously difficult, and needs to be micro-managed in order to succeed.

Equally, if a complicated bespoke software is needed, even given that there are a number of sub-contractors capable of doing the work, it is a very risky business and needs careful management.

Items of hardware which will be designed and manufactured specifically for this project or which require special manufacturing processes need a high degree of careful risk management.

Next down the chain in terms of risk are specialist items of proprietary hardware. Again, this is likely to be a sole-source item, which in itself carries risk.

Alternatively, the risk involved in buying standard commercial-off-the-shelf (COTS) items of either hardware or software where there are various similar products to choose from, is fairly low, but still exists and management will be required.

In a nutshell, the order of risk, starting with the highest is:

Sole source software development

Multiple source software development

Sole source complex COTS software requiring system integration

Sole source hardware development and manufacture

Multiple source hardware development and manufacture

COTS Software supply

COTS Hardware supply

Each of these scenarios carry different types and quantities of risks, making individual plans for their management absolutely essential.

In our next article we'll look and the management of risk associated with selecting potential sub-contractors.

Risk Management - Sub-Contractors

-------------------------------------------------------
Michael Russell
Your Independent guide to Risk Management
-------------------------------------------------------

cell phone watches Buy Niagara Cutter Rfcb444 Cobalt Steel End Mill Cheap Deals Nos 02121Nos Ford Efi Nitrous System Cheap Mephisto Women S Natala Loafer

Project Management - Risk Management

There are some factors to consider when identifying risk in a project. A risk is known as some future happening that results in a change in the environment. It has associated with it a loss that can be estimated, a probability that the event will occur, which can be estimated, and a choice on the projects manager's part as to what to do, if anything, to mitigate the risk and reduce the loss that will occur.

During the project planning process, the risk assessment which is normally completed during the development of the Business Case is reviewed and updated by the project team. Risk assessment is formalized subjective assessment of the probability of project success. Risk assessment has an obvious impact on the management style, team structure, use of methodology, strategies for system development, and, most importantly, the business decision to approve the project.

Risk Management

Simply, the greater the risk of the project, the higher the probability that estimates, schedules, and planning will be incorrect and that the project will move "out of control". The risk of a project can be established by considering the following criteria;

Project Management - Risk Management

What are the risks? What is the probability of loss that results from them? How much are the losses likely to cost? What might the losses be if the worst happens? What are the alternatives? How can the losses be reduced or eliminated? Will the alternatives produce other risks?

The business decision is to assess how the expected loss compares to the cost of defraying all or some of the loss and then taking the appropriate action.

It is mandatory that, throughout the system development process and especially during project planning, the project manager consider these project risk criteria using a formal questionnaire and develop a risk mitigation list. If the project manager considers the combination of any of these factors is significant and contributes to the degree of risk of the project, he or she is encouraged to consider the following actions;

Take steps to limit the scope of the project to reduce its complexity Document the areas of complexity in the Project Plan and allow for additional time/resources Raise a formal Risk Memorandum that details the high-level factors, identifies their possible impact and actions/options available to reduce that impact or reduce the risk factor.

It is imperative that the management of project risk is seen as a proactive process. For example, prior to the commencement of the full development cycle, the project manager should negotiate with the Steering Committee, key stakeholders and sponsor to minimize the high-risk factors.

To increase the likelihood of project success, the project team must put in place a program that identifies risks and steps to mitigate that risk. The management and minimization of project risk is the responsibility of all involved parties in the project.

Project Management - Risk Management

CER1projectmanagement has been involved with Project Management since 1996, and has completed many varied and complex projects for both small and large organisations.

http://www.cer1projectmanagement.com provide informative articles, templates and other resources on everything you'll ever need to know about Project Management.

watch cell phone Cheap Mephisto Women S Natala Loafer