Healthcare supply chain management software streamlines the procurement, storage, and distribution of medical supplies and equipment within healthcare organizations.
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Supply chain management has become increasingly global and transformed numerous industries including healthcare. Just a decade ago, hospitals relied on manual processes to obtain resources, manage supplies, and deliver goods and services to providers and patients. But now it has been replaced as technology in supply chain management has evolved.
With more pharmaceuticals, medical devices, and supplies being sourced from around the world, there is a huge demand for a highly reliable system. Healthcare professionals are looking for ways to streamline the entire supply chain process and cut costs wherever they can. Therefore, a supply chain that is constantly on the lookout for new technologies can only help them.
This is where healthcare supply chain management software comes in. In this blog, we have explored what healthcare supply chain software is, why healthcare organizations should invest in it, and how it benefits them in detail.
Healthcare supply chain software is an automated, clinically integrated supply chain solution designed to streamline medical inventory management, supply distribution, and cost control. It coordinates and optimizes the flow of medical supplies, pharmaceuticals, and equipment from suppliers to healthcare providers. It ensures everyone including medical professionals, staff, and patients has access to all the medical supplies and devices whenever and wherever they need.
This software brings together various functions such as inventory management, warehouse management, order processing, procurement, logistics, and maintaining data all in one place. It automates all the repetitive manual tasks associated with the supply chain and helps hospitals keep track of what is in stock and what is not to avoid issues with product availability. Using this software, healthcare organizations can analyze disruptions to the supply chain before they even happen, resulting in a cost-effective flow of medical goods.
The healthcare supply chain is an extensive network of systems, components, and processes that work together to ensure all medical supplies are manufactured, distributed, and provided to providers and patients.
Managing such a complex supply chain is not an easy process for which there is a need for an effective solution like healthcare supply chain management software to optimize the entire supply chain process.
In 2023, the global healthcare supply chain management market was worth about USD 2.99 billion. It is expected to jump to about USD 3.43 billion in 2024 and then reach USD 10.65 billion by 2032, growing at a rate of 15.2% between 2024 and 2032.
Many healthcare organizations have started making efforts to make their supply chain operations more resilient and agile, further increasing the demand for supply chain management solutions.
Investing in healthcare supply chain management software helps address numerous challenges being faced in today’s supply chain. First, it improves the accuracy of inventory tracking and minimizes the risk of shortages and overstocking.
Here are some of the key features that are integrated into the healthcare supply chain software.
Inventory Management
Healthcare involves a large amount of supplies and also it is important to keep those supplies ready for patients and providers all the time. This software helps oversee the quantities of medical supplies to ensure they are available when needed and prevent stockouts and overstock.
Automated Reordering
This software automatically places orders for medical supplies when inventory levels fall below a certain level based on predefined parameters such as minimum stock levels and supplier schedules.
Integration Capabilities
It provides a holistic view of the supply chain and is flexible enough to be integrated with other healthcare systems. It helps synchronize data from multiple sources such as EHR/EMR systems, financial systems, and vendor portals.
Supplier Management
This supply chain software helps maintain seamless communication with suppliers. It manages contracts, evaluates delivery schedules, and analyzes all supplier data in a single location. It supports better negotiations and ensures reliable supply sources.
Demand Forecasting
Based on past usage patterns, this software lets healthcare organizations predict their future demand for supplies and plan their inventory accordingly. This helps prevent shortages and ensure they have the necessary supplies when they are needed most.
Analytics Support
Healthcare supply chain software works with large data sets to facilitate tracking and data-based decision-making. It allows for better data management and improves the efficiency of functions across the supply chain.
Here are some of the benefits healthcare organizations can get by using healthcare supply chain management software.
Improved Operational Efficiency
Healthcare supply chain software helps automate tasks such as checking stock levels and placing orders instead of manually ordering, tracking, and managing inventory. This streamlined supply chain results in improved overall efficiency.
Cost Saving
This software automates the entire procure-to-pay processes, inventory management, and other strategic planning activities such as demand planning and forecasting which eliminates the costs associated with manual tasks.
Enhanced Transparency
Supply chain software maintains seamless communication between vendors, suppliers, and shipping companies. This helps prevent logistic errors while distributing, late shipments, and hold-ups on production lines.
Better Patient Care
Using this software, healthcare organizations can have all the necessary medicines, equipment, and other supplies always in stock. This helps them provide better patient care without any disruptions.
Minimized Errors
Supply chain software automates almost all processes and does not involve manual tasks. This results in minimized human errors such as running out of critical products or ordering incorrect items.
Reduced Inventory Wastes
This software provides complete visibility into inventory making it easy to identify expired medical products. Also, it avoids poor management of products resulting in the waste of drugs. Hospitals can have the right products available all the time.
Let’s take a look at some of the emerging technologies we incorporate in our healthcare supply chain software.
Blockchain in the supply chain helps track the movement of healthcare products right from their production to delivery. It ensures the authenticity of supplies and minimizes the likelihood of counterfeit products.
Healthcare supply chain software uses predictive analytics to understand the trends and patterns in product shipments. Artificial Intelligence can analyze large amounts of data to predict which supplies will be in high demand and when certain products might run low.
IoT (Internet of Things) devices give real-time information about the location and condition of healthcare products while they are in transit. Healthcare supply chain software is equipped with Radio-Frequency Identification (RFID) tracking systems that help locate, track, and monitor goods.
This supply chain software uses Robotic Process Automation (RPA) to automate labor-intensive and repetitive tasks such as order placement, invoice processing, and data entry. This helps improve productivity while cutting down on the time and cost spent on human staff.
Using drone technology in healthcare supply chain software is useful especially when it comes to delivering medicines, vaccines, and other medical kits. By reaching out to remote or hard-to-reach areas, this technology offers a fast and efficient alternative to traditional delivery methods.
Explore the step-by-step development process we follow to build a fully functional supply chain software to use in healthcare.
First, we collaborate with our clients to understand their unique challenges We engage in comprehensive discussions to figure out why they want to develop supply chain management software and how it will help them to overcome the challenges found in healthcare. We map out existing supply chain processes to identify pain points and areas for improvement.
Before implementing the SCM software solution in your healthcare system, we analyze the existing workflow between the teams and procedures. We try to identify the issues or problems with the existing tools and systems.
Once we have a clear overview of the challenges you are likely to encounter, it gives you an easy time overcoming these challenges and gives adaptability of the teams to the new digital solution after implementation. We choose the programming languages and frameworks needed for developing healthcare supply chain management software.
In this step, we focus on designing the user interface and developing a robust software architecture. We design the software’s overall structure and an intuitive interface that meets the needs of different user roles.
We ensure that all stakeholder feedback is implemented before moving on with the full-scale development of healthcare supply chain solutions. We incorporate core features such as real-time inventory tracking, analytics, reporting, and others.
Our software testing team conducts multiple tests such as unit, integration, and system to ensure quality and functionality. It helps you achieve smooth transitions with minimal disruptions.
In this step, we integrate the supply chain software with existing systems such as electronic health records (EHR), enterprise resource planning (ERP), and other relevant systems to achieve data accuracy and consistency.
Finally, we deploy the software in a test environment and examine its functionalities and performance. This process helps achieve a smooth transition with minimal disruption. Once validated, we deploy the software in production environments.
Maticz is a leading supply chain software development company known for accelerating your operations within the supply chain sector. We build custom supply chain software for a diverse array of industries including healthcare. Our healthcare supply chain management software is equipped with advanced technologies such as AI, IoT, Blockchain, and more to ensure it aligns with industry trends. We collaborate with our clients to know what exactly their needs are and deliver the same while ensuring it integrates seamlessly with existing systems. Contact us today.
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