Systagenix begins pilot with ToolsGroup to optimise inventory levels
LONDON, Nov. 27, 2012 /PRNewswire/ -- Systagenix, a global supplier of advanced wound care products for the health care industry, has started a six-month pilot with supply chain planning software company ToolsGroup. Using ToolsGroup's SO99+ software, Systagenix aims to maintain its very high service levels whilst optimising its global inventory footprint.
One of the greatest challenges in the health care industry is striking the right balance between service levels and costs. Systagenix chose ToolsGroup for its excellent track record in helping suppliers to the global health care industry like Smiths Medical and Cipla Medpro streamline their inventory costs while maintaining industry-leading service levels.
According to Alastair Mitchell, Supply Chain General Manager, Systagenix "When supplying products to health care providers, satisfying customer demand must always be the highest priority. However, in order to offer the best value to customers, inventory costs and obsolescence have to be kept to a minimum. One of the greatest opportunities to achieve efficiency improvements without compromising service levels lies in smarter inventory management."
During the pilot, ToolsGroup will analyse Systagenix's current data and calculate new safety stock levels for a sample group of items. ToolsGroup UK will host the application in the pilot phase and make it available to Systagenix via secure web access with initial results expected in approximately eight weeks. Following a successful pilot phase, Systagenix intends to roll the ToolsGroup S099+ application out to all its product groups, market sectors and locations.
Martin Woodward, managing director of ToolsGroup UK commented, "Optimising inventory for health care products is particularly complicated because each has a unique shelf-life and may be subject to specific regulatory compliance. We look forward to applying the expertise gained in overcoming this particular challenge for several other international health care manufacturers to benefit Systagenix."
Established in 2008, Systagenix is 100% dedicated to wound care, developing and marketing advanced diagnostic and therapeutic wound care solutions globally. Its leading edge product portfolio includes SILVERCEL® NON-ADHERENT, ACTISORB®, INADINE®, PROMOGRAN®, PROMOGRAN PRISMA®, ADAPTIC TOUCH® and TIELLE®. The recently launched WOUNDCHEK™ Protease Status is the world's first point of care wound diagnostic tool and the entry point to the company's Let's Heal® approach to wound care.
ToolsGroup (www.toolsgroup.com) is a global provider of Powerfully Simple supply chain planning software. Powerful behind-the-screen engines enable highly intelligent data-driven decision making. Reliable and scalable statistical models are continuously and automatically tuned to automate and simplify the planning and control process. Our customers overcome volatile supply chains to generate accurate forecasts and outstanding customer-service levels with less global inventory. ToolsGroup's solutions span key supply chain planning areas such as Demand Planning, S&OP, Demand Sensing, Promotion Forecasting and Multi-Echelon Inventory Optimization.