Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Cardinal Health Inc    CAH

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Cardinal Health Inc : Cardinal Health Launches Lean Six Sigma-based Inventory Management Solution

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/25/2013 | 04:37pm CET
Pilot Program Cuts Time for Clinicians to Obtain Supplies Nearly in Half

DUBLIN, Ohio, Sept. 24, 2013 - Cardinal Health today unveiled its 2-Bin Kanban solution, an innovative approach to inventory management, at the Fall IDN Summit and Reverse Expo in Phoenix.

The Cardinal Health 2-Bin Kanban solution combines principles of the Lean Six Sigma managerial concept of improving business efficiency and effectiveness with proprietary, cloud-based software. It can replace expensive point-of-use systems, improve supply forecasting to prevent overstocking and stockouts, eliminate expired and obsolete supplies, and reduce clinical labor in materials handling.

"Cardinal Health is dedicated to delivering high-impact, long-term services to health care providers," said Steve Inacker, president Hospital Sales and Service at Cardinal Health, "and the 2-Bin Kanban solution is one more example of how we're engaged with them and innovating to meet their emerging demands."

How it works

In the 2-Bin Kanban solution, a nurse removes the last product from the front bin. The nurse then places the empty bin on a top shelf in the inventory area and pulls the rear bin forward. Materials management scans the empty bins to trigger replenishment and initiate orders. Materials Management restocks empty bins and transports the bins to patient floors. During the replenishment process, Materials Management inserts the restocked bin as a rear bin in the two-bin set-up to support a first-in, first-out inventory approach. The process then repeats.

The system's proprietary software "learns" from consumption patterns in real time and calculates correct bin quantities as changes in patient census, clinical practice and seasonal factors occur.  The system generates supply orders based on standard bin quantity.

Pilot yields success

In a recent pilot program, Bellevue Medical Center in Omaha, Nebraska achieved more than an 80 percent reduction in clinician time in the supply room and more than a 40 percent reduction in the time it took clinicians to obtain supplies. The institution also realized more than a 40 percent reduction in supply put-away time and more than a 60 percent reduction of inventory on hand. There was a 100 percent reduction of the cycle count function.

"If we attempted to go back to the old model, we would have a riot on our hands." said Brandon Quindt, former director of Support Services at Bellevue Medical Center. "They really like the fact that they can just grab and go and not tie up their day doing activities that aren't driving patient satisfaction.

A recently conducted clinician satisfaction survey at Bellevue reiterates the success of the Cardinal Health 2-Bin Kanban solution, with clinicians agreeing that the system as made their jobs easier by making it easier to locate supplies and enables clinicians to spend more time with patients. They further agreed that the Cardinal Health solution saves time and is preferable to the previous scanning system.

To learn more about the Cardinal Health 2-Bin Kanban solution or to view an instructional video, video testimonial, related infographics or a case study, visit cardinalhealth.com/2binkanban.

About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is a $101 billion health care services company that improves the cost-effectiveness of health care. As the business behind health care, Cardinal Health helps pharmacies, hospitals, ambulatory surgery centers, clinical laboratories and physician offices focus on patient care while reducing costs, enhancing efficiency and improving quality. Cardinal Health is an essential link in the health care supply chain, providing pharmaceuticals and medical products and services to more than 100,000 locations each day and is also the industry-leading direct-to-home medical supplies distributor. The company is a leading manufacturer of medical and surgical products, including gloves, surgical apparel and fluid management products. In addition, the company operates the nation's largest network of radiopharmacies that dispense products to aid in the early diagnosis and treatment of disease. Ranked #19 on the Fortune 500, Cardinal Health employs 34,000 people worldwide. More information about the company may be found at www.cardinalhealth.com and @CardinalHealth on Twitter.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CARDINAL HEALTH INC
01/18DJMCKESSON : to Pay $150 Million for Failing to Report 'Suspicious' Drug Orders --..
01/12 CARDINAL HEALTH : Manchin, West Virginia Treatment Facilities Call On State To U..
01/12 CARDINAL HEALTH : Sen. Manchin, West Virginia Treatment Facilities Call On State..
01/11 CARDINAL HEALTH : fined $44 million for opioid reporting violations
01/09 CARDINAL HEALTH : Reaches Settlement With West Virginia
01/09 CARDINAL HEALTH : The First Citizens Bank & Trust Co. Sold 20,386 Shares of Card..
01/09 AMERISOURCEBERGEN : Governor Tomblin, Attorney General's Office Announce Settlem..
01/04 CARDINAL HEALTH : to Webcast Discussion of Second-Quarter Results for Fiscal Yea..
01/03 CARDINAL HEALTH : Factory Mutual Insurance Co. Has $1,709,000 Position in Cardin..
01/02 CARDINAL HEALTH : Bienville Capital Management LLC Buys Shares of 4,000 Cardinal..
More news
Sector news : Drug Retailers - NEC
01/18DJMCKESSON : to Pay $150 Million for Failing to Report 'Suspicious' Drug Orders --..
01/18DJMCKESSON : to Pay $150 Million for Failing to Report 'Suspicious' Drug Orders
01/11DJWalgreens to Offer FedEx Dropoff and Pickup at Walgreens Locations Nationwide
01/05 U.S. loses bid to overturn AmEx antitrust decision
01/05DJWALGREENS BOOTS CEO : No Plan B for Rite Aid Merger--Update
More sector news : Drug Retailers - NEC
News from SeekingAlpha
01/16 9 Dividend Companies With Lower Share Prices
01/16 IRA Portfolio Yielding 4.8% Created From 2 Vanguard Funds And 34 Stocks In 10..
01/11 Cardinal Health (CAH) presents at 35th Annual J.P. Morgan Healthcare Conferen..
01/10 VALUATION DASHBOARD : Healthcare - Update
01/10 My Dividend Growth Portfolio - Q4 2016 Summary
Advertisement
Financials ($)
Sales 2017 131 431 M
EBIT 2017 2 898 M
Net income 2017 1 468 M
Debt 2017 2 281 M
Yield 2017 2,14%
P/E ratio 2017 16,66
P/E ratio 2018 14,49
EV / Sales 2017 0,20x
EV / Sales 2018 0,18x
Capitalization 24 261 M
More Financials
Chart CARDINAL HEALTH INC
Duration : Period :
Cardinal Health Inc Technical Analysis Chart | CAH | US14149Y1082 | 4-Traders
Full-screen chart
Technical analysis trends CARDINAL HEALTH INC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 80,3 $
Spread / Average Target 6,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
George S. Barrett Chairman & Chief Executive Officer
Michael C. Kaufmann Chief Financial Officer
Patricia B. Morrison Chief Information Officer & EVP
Calvin Ramarro Darden Independent Director
Gregory B. Kenny Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CARDINAL HEALTH INC5.32%24 261
WALGREENS BOOTS ALLIAN..1.64%90 800
CVS HEALTH CORP5.87%89 090
EXPRESS SCRIPTS HOLDIN..5.64%44 810
MCKESSON CORPORATION6.61%33 854
AMERISOURCEBERGEN CORP..9.36%18 821
More Results