08/17/2017 | Press release | Archived content
One potential way to reduce costs without lowering the quality of healthcare is to optimize how much inventory is required and where that inventory is positioned. Advances in medical devices tend to make existing devices obsolete at a rapid pace. Pharmaceuticals usually have a short shelf life. Minimizing the amount of inventory required to provide advanced healthcare reduces both working capital and obsolescence.
A very powerful, yet under-utilized, tool to optimize all types of inventory across the extended life sciences supply chain is Multi-Echelon Inventory Optimization (MEIO). Through the adoption of MEIO some life sciences companies have been able to reduce inventory levels by 30% or more while still meeting customer requirements. Sounds good, right. However, is your company ready to embrace MEIO? Answering the following, four "self-check" questions will help you determine whether MEIO could be right for your company.
Multi-Echelon Inventory Optimization (MEIO) is a proven method for life sciences companies to reduce costs while maintaining or even improving the availability of products and the quality of the healthcare system. The health of your inventory capabilities can be determined through a simple 4 questions "self-check" or examination.
Logility's industry leading MEIO solution has helped companies revolutionize their ability to lower costs and improve customer service in the challenging, complex and ever changing life sciences industry. Is your company ready to embrace MEIO? Let Logility help you determine your company's MEIO opportunity. Read Logility's whitepaper, "Inventory Optimization, Self-Check for Life Sciences" to learn more.
The future of supply chain management is constantly reshaped by challenges that keep industry leaders up at night. Everything from…
The cloud has emerged as the cornerstone of modern business and supply chain innovation. From retail and food and beverage…
Supply chain issues have put many companies into crisis mode. Avert crises and manage your supply chain more efficiently with…