Pharma & Healthcare
Pharma and 'life sciences' have become a highly competitive global industry. While consumers become increasingly more knowledgeable about the care options available, the cost of health care products continues to soar. To succeed in the pharma industry, the need to provide customers with consistently high service levels cannot be understated. Equally, wholesalers & distributors must remain as efficient as possible in order to stay ahead of the competition.
Assortment management: Focus on what matters to the patient
As new medicines, equipment’s and related products are released by manufacturers, many wholesales now manage huge assortments encompassing many thousands of different SKUs. However, given that every item is exposed to its own individual demand pattern, seasonal influence and supplier profile, Pharmaceutical companies must adopt the right approach to manage every article.
With Slim4, businesses can easily categorise products depending on the strategic importance to the business based using sophisticated ABC analysis. With this enhanced focus, supply chain teams can adopt the most appropriate inventory management strategy for each and every item within the assortment. Ultimately, Slim4 enables businesses to focus their investment in inventory on the items that matter most to the customer.
Automated replenishment: optimised ordering to maximise availability
While customers expect their orders to be delivered immediately, wholesalers often face lengthy lead times of up to several months from their suppliers. Consequently, supply chain teams must bridge this gap in order to satisfy customer demand in a timely manner.
Based on the businesses rules in place, the forecasted demand and the desired service level, Slim4 has the capability to automate the ordering and replenishment process for up to ___ of the articles within the assortment. Taking into account local sales patterns combined with local or aggregated seasonality and trends, Slim4 ensures a dynamic order level for every location resulting in higher levels of availability and up to 50% reduction in out of stocks.
Product lifecycle management: the right approach for every phase
As technology and medical research advances, it’s vital that the assortments of wholesalers and distributors evolve accordingly. As new pharmaceutical products are released it’s vital that these items are phased in effectively while End-of-life articles are phased out at minimum cost to the business.
Slim4 has been specifically designed to help pharmaceutical businesses optimise inventory levels throughout every phase of the product lifecycle. Using predecessor/ successor product relationships, our inventory optimisation solution enables seamless introduction of new articles. Furthermore, through helping businesses to identify when a product reaches the end of the product lifecycle, Slim4 helps businesses to proactively minimise excess and obsolescence.
Erik de Witte
Operations Director SEA at Slimstock
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Erik helps distributors, manufacturers, and retailers in a number of vertical markets make better use of their inventory investment with the incorporation of technology.