Picture yourself owning a laboratory. You're not only required to consider your practice as a medical technologist, but also to be aware of the laboratory's inventory and materials. It is essential for you as an owner to be knowledgeable about material and inventory management. What are they, you ask? Well, let’s see.
Material management is the systematic process of overseeing and controlling the acquisition and utilization of supplies to ensure both availability and cost-effectiveness. First is the choice of instrument. When owning a laboratory, you will want an ideal instrument. But what factors should be considered in order to claim that a machine is ideal? Well, the bases for selection are use, longevity, and volume of the test, inherent accuracy, cost, expected downtime, and ease of operation. When you have already purchased one, you should be reminded about preventive maintenance and repair. Preventive maintenance is a very important ongoing accident-prevention activity while repair pertains to the action performed after the failure of equipment occurs. But isn’t it prevention is always better than cure? The same goes to preventive maintenance is always better than repair. You shouldn’t wait for your machine to be broken before doing anything. Plus, most of the time, repair is more costly.
With regards to inventory management, this is defined as the practice of overseeing and controlling of the ordering, storage and use of components that a company uses in the production of the items it sells. It is also the practice managing the quantities of finished products for sale. Successful inventory management involves creating purchasing plan to ensure that items are available when they are needed - but neither too much nor to little is purchased - and keeping track of existing inventory and its use. Two stock replenishment techniques are the minimum-maximum and just-in-time. In just-in-time method, companies plan to receive items as they are needed rather than maintaining high inventory levels. For minimum-maximum, it schedules material deliveries based on sales forecasts. Other than these, financial control is also associated with inventory. In management, the questions how much should be ordered and when one should order are considered.
After stating all of these considerations when owning a laboratory, hopefully it wouldn’t discourage one to own a lab but rather aid in one’s plans.








