Babli Kumari, Avinash Tirumalai, Manvendra Singh, and Suresh Shanmugamsundram
Material/inventory Management Technique, Inventory Turnover Rate, Efficiency, Effectiveness, Health Services
To generate a statistically significant difference in terms of ITR after ABC & SFN analysis in the General Store section of GNRC Hospitals Pvt. Ltd. The core experiment under the study had a sample size of 660 types of consumable items. The study was done by observing the difference in Inventory Turnover Rate (ITR) of the existing system of Inventory control and then carrying out ABC & FSN analysis by classifying the inventory of last 4 months. It was found that the implementation of ABC & FSN analysis was successful in the study setting in terms of increased turnover of items. The average ITR of the sample was 1.34. Then the ABC & FSN (FSN classification was already existing in some extent) classification of the working sample was carried out and for 20 days, the standard control guidelines for A, B and C categories were followed. Thereafter the same sample measurements were retaken i.e. the ITR s were calculated after implementation and this time average was seen to be 1.71. There was an increase in ITR s before and after implementation of ABC & FSN analysis. The increment percentage was tested for its statistical significance through paired t-test and SPSS software package was used to generate the results along with the sought significance. An induced survey was carried out among the employees in the hospital which was aimed at increasing the acceptance level of the management change after adoption of the new analysis techniques of inventory control.