Successful Demand Forecasting Modeling Strategies for Increasing Small Retail Medical Supply Profitability

The lack of effective demand forecasting strategies can result in imprecise inventory replenishment, inventory overstock, and unused inventory. The purpose of this single case study was to explore successful demand forecasting strategies that leaders of a small, retail, medical supply business used to increase profitability. The conceptual framework for this study was Winters\u27s forecasting demand approach. Data were collected from semistructured, face-to-face interviews with 8 business leaders of a private, small, retail, medical supply business in the southeastern United States and the review of company artifacts. Yin\u27s 5-step qualitative data analysis process of compiling, disassembling, reassembling, interpreting, and concluding was applied. Key themes that emerged from data analysis included understanding sales trends, inventory management with pricing, and seasonality. The findings of this study might contribute to positive social change by encouraging leaders of medical supply businesses to apply demand forecasting strategies that may lead to benefits for medically underserved citizens in need of accessible and abundant medical supplies

Strategies Clinic Managers Use to Reduce Missed Medical Appointments

Patients who miss their medical appointments increase health care costs for themselves and for clinics. The purpose of this qualitative, single exploratory case study was to explore strategies health care clinic managers use to reduce medical no-shows for patient-scheduled appointments. Change management theory guided the scope and analysis. The data collection included a single clinical operations manager who have strategies to mitigate no-shows for patient-scheduled appointments participated in a semistructured interview in southeastern Virginia, the direct observation of 2 office workers in their natural setting of scheduling appointments, and for methodological triangulation, a review of organizational archival documents about missed medical appointments. Member checking was used to strengthen the credibility and trustworthiness of analyses, which were carried out using Yin\u27s 5-step analysis process. Major themes were forgetfulness and high deductible plan; minor themes were lead-time and inclement weather that lead to no-shows. This study explored the strategies necessary to reduce costs and increase revenues; it could free funds to provide services to patients, such as education and counseling support. The findings from this study could contribute to social change by adding new knowledge or informing the strategies to reduce medical no-shows. These findings may also benefit organizational worth and increase community health

Strategies for Effective Financial Management in Vincentian Small Businesses

The lack of strategies for effective financial management has been an impediment to the survival and growth of many small businesses in Saint Vincent (St. Vincent), an island in the Caribbean. Inadequate adoption of strategies by small business owners is a prime contributing factor to small business failure. The purpose of this research was to identify strategies that small business owners use for effective financial management. Institutional theory served as the conceptual framework for this multiple case study. Participants consisted of 4 St. Vincent small business owners who had demonstrated effective financial management strategies in the operation of their businesses. Data collection occurred through semistructured interviews and a review of documentation, which was complemented by the use of member checking to strengthen the credibility and trustworthiness of findings. Three themes emerged through thematic data analysis: (a) strategic accounting practices, (b) set patterns, and (c) financial planning. Prudent accounting practices and sound financial planning are to be standard adoption by small business owners to have effective financial management. A conclusion, based on study findings, is that identification and implementation of effective financial management strategies may increase small business success, potentially resulting in growth in the number of small businesses in St. Vincent and an improved economy. Subsequent positive social change for Vincentians may include poverty reduction, lower unemployment, and a diminished crime rate