Modelling hospital inventory management using interpretive structural modelling approach

Abstract

The inventory management process is an essential concern for a hospital because it affects the clinical, managerial and financial outcomes and comprises a large part of overall supply chain cost. It is responsible to supervise and control on the inventory at central stock and various individual care units (ICUs). This paper presents an interpretative structural modelling (ISM) for the hospital inventory management with 16 key factors. Expert's opinions on all factors have been translated into the structural model to establish some interrelationships among the factors. Matriced impacts croises multiplication applique and classment (MICMAC) analysis has been done to categorise the factors on the basis of their driver and dependence powers. The study may offer directions to the hospital administration to take key decisions to improve overall inventory management performance and reduction of cost.

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