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AI led Supply Chain Management

How efficient is your hospital or pharmaceutical’s supply chain ?

AI Led Supply Chain Management (SCM): Healthcare costs are increasing in every market and putting pressure on healthcare providers. The healthcare supply chain management is a complex eco-systeme because it involves many stakeholders, processes and accurate data is a prerequisite to make it effective and efficient. Many providers rely on Enterprise Resource Planning or Inventory Management solutions which are inadequate to cope with today’s fast changing demands.

Our AI based supply chain management solution helps reduce costs, improve patient experience, provide data-driven insights and improves overall operational efficiencies. This holistic solution presents an opportunity to improve a hospital’s margin by 5-7%

A glimpse of today’s healthcare supply chain….

Current internal ticketing or issue management or problem resolution systems have several limitations such as:

Hospital supplies account for about 1/3rd of overall operating expenses
Supplies predicted to exceed labor costs in almost all markets
Provider preference (Physician preference) items typically account for 56% of supply
Burden on healthcare personnel due to lack of right supply during Perioperative and procedural throughput
Expired or recalled supplies ~10% wastage

CXO’s are now turning their attention to their supply chain which traditionally was not a focus area

Limitations of current SCM systems

An AI based solution that understand “natural language, automates ticket categorization, prioritises, continuously learns and provides deep insights
provides following benefits:

Hospitals largely are using traditional ERP solutions which use time series to predict future. Using past patterns does not factor in seasonal and other factors leading to “wastage and avoidable high costs”

Complexities in healthcare supply chain result in overstock, understock, idle stock and wastage.

There are many good inventory systems developed or implemented by leading hospitals and pharmaceutical chains however, ’human resources’ are required to analyze, decide and act.