Healthcare, an industry which mandates zero tolerance policy – there is no margin for error. A slight delay can in fact be a matter of life and death. Disruptions in health care supply chain should be avoided at any cost. Healthcare organizations outsources most of the supplies to third party logistics and don’t deal with ground transportations, freight customs and other import regulations which are bound to fluctuate. In Healthcare, we can still witness various players using outdated systems without leveraging any modern technologies. Consider the challenges of purchasing and stocking thousands of items ranging from surgical tools to stethoscopes in the inventories of different hospitals and clinics belonging to the same hospital chains. Without a standardized processes and unified integrated system, even the same items may be tracked in different categories such as general supplies or medical supplies or surgical supplies across the same value chain. Even something as simple as checking for On-hand stock of certain supplies can in-fact be a challenge for some.
As experienced during the heights of COVID pandemic, unpredictability in supply and demand across healthcare creates complex challenges in form of supply shortages, complex pricing, quick replenishment of orders and accurate billing. This can result in unnecessary wastage of both time and money which in turn impacts the healthcare personnel to deliver optimal patient care.
Access to the data more readily is the need of the hour for supply chain teams to make decisions faster. Thus, Healthcare requires the right balance between its patient care objectives with the industry’s push towards technology and modernizations.
Oracle Fusion Supply Chain and Manufacturing’s Industry Specific Solutions helps in enhancing the patient care in Healthcare organization by introducing specialized supply chain solutions for the industry. Oracle Cloud SCM provides new purpose driven solutions to healthcare sector enhancing the supply chain stability and confidence needed to improve patients’ outcome. Oracle Cloud SCM helps hospital chain and its related value chain improve the quality of care by automating processes, effective planning, reduction in costing and making the supply chain more responsive and enhancing its visibility.
Oracle Cloud SCM solutions help healthcare:
- Improved Standards of care by enabling its related equipment and maintenance tracking. In addition the Oracle Product Lifecycle Management helps Healthcare organizations maintain complete documentation by providing a unified data source which can be integrated with electronic health records and clinical attributes.
- Optimized Planning: Oracle Supply Chain Planning helps hospital chains plan, predict demand. Oracle Self Service Procurement – with its smart forms, public shopping list, and its curated catalogs provides intelligent shopping experiences for its end users allowing them to shop for supplies quick and simple.
- Reduced Supply Chain Cost: Oracle Fusion Procurement Supplier Management and Inventory Management helps Healthcare reduce the administrative cost and improve the profit margins through streamlined procurement process, optimized inventory levels and supplier management processes.
- Data first approach: Oracle Fusion SCM along with its embedded analytics helps organizations to properly track and report processes in place and available to the respective stakeholders, thus increasing the overall visibility.
- Real time Inventory Management: As consequences to the pandemic, healthcare industries are shying away from the concept of JIT inventory. There has been an inevitable requirement to predict demand and understand the true delivery capacity of the supply chain. Inventory Replenishment techniques and Simplified Supply Planning solutions enables hospitals and clinics to never run out of materials by automatic reordering process. Facilities such as hospitals and clinics that do not store perpetual inventory also need to manage and replenish the inventory. Periodic Automatic Replenishment (PAR) Location Management and Replenishment lets one perform count and replenish in sub inventories which do not track item quantities.
- Sourcing, Supplier Model and Supplier Qualification Management: In case of Medical Emergency or Disruption whenever a healthcare facility require additional inventory, it is not ideal to be at the mercy of a single supplier. Working with multiple supplies lowers the risk and dependencies over single supplier in cases where there is a need for an excess inventory. This lowers the inventory operating cost and storage requirements of these facilities and reduces the throw way expired materials as waste. Oracle Fusion SCM facilitates supplier management enabling organization to manage relationship, negotiate contracts, agreements and monitor the supplier performances,
- Product Recall: In Healthcare, Product Recall is complex, requiring multiple steps involving capture, locate and disposal of recalled products in timely, accurate and provable manner. Failure in disposal and surgeons using these recalled products into the bodies of patients could lead to dangerous situations.
Oracle Fusion Cloud Supply Chain Management streamlines the entire recall process from capture of the recall notice to quarantine and disposal of recalled products. This results in higher levels of patient safety, lower costs and an improved clinical experience
- Compliances: Healthcare Regulatory Compliances is essential to patient safety. Oracle Fusion SCM using Product Genealogy, Material Status, Lot and Serial Numbers can be used in tracking the source and expiry of medical devices and products.
- Order Fulfillment: Oracle Fusion Order Management and Global Order Promising can streamline the order capture and fulfillment products by ensuring the right products are delivered to the right place at the right time.
Overall, Oracle Fusion Supply Chain Management acts as a complete solution built for the cloud, working in tandem to help healthcare organizations make informed decisions and respond quickly to changing supply demand patterns and market conditions.