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Healthcare Supply Chain Management Software Development – Business Growth Catalyst

14 Mar 2022

Digital transformation enables businesses the opportunity to reshape their services with the latest tech tools and solutions. And, the healthcare industry like any other is no exception. It comes as no surprise that the use of technology in hospitals, from Electronic Health Records (EHRs) to telehealth, is at an all-time high.

While all the aspects of business are improving for the industry, even the healthcare supply chain management software (SCMS) has become more complex and digitally inclined. They enable hospitals to gain the visibility to coordinate and integrate processes that manage & oversee the flow of finances, data, and goods as a product or service – right from its production to consumption point.

This helps enhance data-driven decision-making by streamlining medical supply distribution, inventory supervision & managing cost control. It helps improve collaboration and effectively engage with stakeholders to better financial and care outcomes.

Did You Know?

  • The Global Healthcare Supply Chain Management market is estimated to reach $ 3.3 billion by 2025.
  • 98% of hospital leaders believe that supply chain optimization can increase hospital margins
  • 60% suggested that supply chain analytics can positively impact care quality

Through this blog, we’ll cover the essentials of supply chain management software – what is it, how it helps, core benefits & most importantly why it is a worthwhile investment to offer more patient-centric care.

Let’s dive right in!

Here’s What We’ll Cover;

What are Supply Chain Management Software and their Types?

A dedicated software tool, it helps execute supply chain transactions, manage supplier relationships & monitor associated business processes. It helps reduce numerous errors and unnecessary costs spent to fix them.

The most common types include;

  • Order Processing MS
  • Warehouse MS
  • Sourcing and Procurement MS
  • Inventory MS
  • Shipping MS

Why should Hospitals Invest in Healthcare SCM System?

Research suggests that medical facilities of today spend approximately one-third of their operating expenses on healthcare supply chain management. However, the disconnect between the needs of patients, physicians & supply chain management causes tremendous efficiency. Therefore, healthcare supply chain leaders with a dedicated solution have an incredible opportunity to drive transformation by better aligning supply chain operations and spending to care delivery models. It would lower operating costs, offer visibility into costs, automate procurement and make the supply chain process effective to enable clinicians to focus more on patient care and outcomes.

Healthcare Supply chain software simplifies and automates repetitive manual tasks such as excel spreadsheets, paperwork, to manage supply costs, inventories, and other supply chain activities.

Benefits of Supply Chain Management in the Healthcare Sector

Benefits of supply chain management in healthcare sector

Better Processes, Better Outcomes

  • Supply chains are all about flow. Healthcare SCM automates purchasing, tracking & replenishing products and services that support your patients. It enables hospitals to manage costs, quantity and supply levels by forecasting trends and proper planning.
  • Supply chain data will become a competitive advantage to drive informed data-driven decision-making and understand the full cost associated with managing value-based care.

Improved Access to Insights

  • Drug shortage has prevailed throughout the globe over a couple of years which has become a major challenge for hospitals. This results in increased spending on medicines experiencing shortages, for hospitals worldwide. Healthcare SCM system can provide real-time insights that improve access to short-supply products and act as a revenue accelerator for healthcare organizations.
  • Facilitates transparency that assists healthcare providers to reduce potential supply chain disruption and ensure product availability during challenging times.

Enhances Transparency

  • Medical supply chain management software improves 3C’s of success – communication, collaboration and coordination with the vendors, suppliers & shipping companies to improve the flow of medical supplies, medicines, surgical equipment, and medical services from manufacturer to patient.
  • Logistic errors in distribution, late shipments from vendors and hold-ups on production lines can be avoided by using supply chain management software. This reduces the time delays in processes.

Reduces Inventory Waste

  • Lack of visibility in supply inventory many lead healthcare organizations in poor management of product expiry dates. This results in waste of the drugs or even worse by using expired products on patients. SCM solutions help hospitals reduce waste and ensure the right products are available at the right time.
  • Supply chain management helps maintain a lean inventory and prevents medical supplies from expiring in storage.

Reporting and Analytics

  • Real-time inventory reporting and calculation is vital part and reason for having a healthcare SCM system in the first place.
  • Helps keep track of performance and improvements by offering deep dives into different levels of inventory information from cost analysis to sales performance and more.

Unlock the Full Potential of SCM with Rishabh!

Our specialists can modernize your healthcare supply chain to increase efficiency, minimize waste & improve reputation.

Key Considerations for Developing a Healthcare Supply Chain Management Solution

While the healthcare industry can be considered as a slightly new entrant in managing their supply chain capabilities, they can learn from mature industries, like manufacturing and more to develop & manage a sustainable, competing advantage source, delivering superior service and flexibility at a dramatically lower cost.

In our experience, a well-designed and customer SCM solution tailored to your needs is what you should eye for. Listed below are some of the factors one can consider while choosing the vendor and system for their operations;

  • Company size
  • Budget
  • Deployment type
  • Postproduction support, training, and maintenance

Though goes without saying, any basic SCMS would offer;

  • Ease of Use
  • Scalability
  • Proper communication mechanism (between both clinical and financial systems)
  • Accurate reporting and analytics

Rishabh’s Footprint

Our experience and proficiency in healthcare supply chain management software development allow us to develop feature-rich & robust supply chain management (SCM) software. They automate almost all of logistic processes and reduce overall costs. As a logistics and supply chain management software development company, we can build solutions that offer full visibility and control over your inventory, which allows you to know exactly how much material is in stock at all times.

Success Story

Medical Supply Chain Management Platform Development

A UK-based Medtech company wanted to develop an integrated platform to handle multiple distribution channels to online pharmacies and other partners.

Solution:

We designed and developed a blockchain-based application to seamlessly manage the medical supply chain for ordering Personal Protective Equipment (PPE) and other pharmaceutical products from multiple healthcare practices. The software helps organize the medical supply chain while allowing the source trace of manufactured goods. Most importantly, it helps prevent the distribution of counterfeit PPE and other pharmaceutical products while ensuring that demand is met by streamlining different types of workflow events and documentation.

Key Benefits:

  • 50% improvement in operational transparency
  • 40% enhancement in communication dialogue
  • 80% inventory accuracy

Concluding Thoughts

Whatever your business is shipping, there is a clear and unprecedented demand to transport goods more smartly and safely. It would help deliver true business results and achieve efficiencies across the board.

Although the SCM software enhancement process might sound tedious and may require additional costs and human resources, we suggest it is worth trying. In the future, you can expect to get numerous advantages as discussed above. All you need is an experienced team of professional & software developers who can work with you to achieve these goals to develop suitable solutions. Further, a robust supply chain solution can increase transparency, efficiency, minimize waste, improve reputation, which all impact revenue. We assist businesses to implement the latest tech and develop competitive software that enhances the services.

Want to Automate the Medical Supply Chain?

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