Is ERP Good Medicine for Healthcare? (Part 2 - Enabling Agile Supply Chains)

A methodical Supply Chain is crucial in healthcare and depends on both swiftness and adaptability. In addition, flexibility is key with the complexity and security required in healthcare supply chains. Organizations need to efficiently create/track supplier agreements, order items, pay bills, monitor inventory,  replenish inventory promptly, create fixed assets, and much more.

The following are some examples of where Oracle Procurement and Inventory can improve the Healthcare supply chain.

Procurement

Oracle Purchasing allows organizations to automate purchasing transactions and provides your buying professionals insight into exceptions, status, and actions required. You can streamline routine tasks, such as creating purchase orders from approved requisitions without intervention, increasing productivity while enforcing compliance at every step. Organizations can utilize electronic communications with suppliers to improve the timeliness and accuracy of purchase orders and changes. This allows organizations:

• Simplify the shopping experience
• Improve spend compliance
• Streamline purchasing and payments

• Efficiently organize and manage suppliers

Inventory

Oracle Fusion Cloud Inventory Management is a complete materials management and costing solution that enables organizations full control and visibility of goods across their organization and supply networks. Oracle Inventory Management also provides visibility into different classes of inventory across locations such as
project, task, and ownership of consigned inventory from suppliers. Key benefits include:

• Increase global inventory visibility
• Reduce costs, inventory levels, and cycle times
• Gain better insight into margins and costs
• Manage and enhance flow of inventory
  

Supply Chain Planning

A patient-centered supply chain relies on efficiency and accuracy. With Oracle Fusion Cloud Supply Chain Planning, predictive analytics anticipate product demand to ensure crucial supplies will arrive on time. In addition, machine learning within the application can identify key supply chain issues and counter with suggested actions. Supply Chain Planning can be tailored to meet an organization’s unique requirements. Solutions support: 

• Demand analytics and predictions
• Strategically management of order backlog
• Inventory polices and consumption rules to drive fulfillment
• Real time supply chain analytics

Emily DiGiorgio is a certified Oracle implementation consultant at Creoal Consulting.  She specializes in Healthcare financials and procurement.