Oracle has officially announced the launch of a new replenishment solution in Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), which is designed to help healthcare customers optimize inventory management. According to certain reports, the stated solution, arriving on the scene as a part of part of Oracle Cloud SCM, leverages RFID technologies from Avery Dennison, Terso Solutions, and Zebra Technologies to automatically capture usage, update stock balances, track location, and trigger restocking of supplies and materials. More on the same would reveal how RFID for Replenishment helps healthcare organizations increase productivity, expand inventory insights, and prevent delays by ensuring right amount of stock in the right location, as well as at the right time. Having referred to the initial bits and bobs, we now must try and talk about the whole value proposition on a slightly deeper level, beginning from the technology’s ability to seamlessly track all medical supplies. This translates to the way Oracle’s latest brainchild makes it possible for organizations to track a range of different medical supplies with either RFID-tagging for high-value non-implantable items; RFID-enabled cabinet, refrigerators, and freezers for items with specific climate requirements; or RFID-enabled Periodic Automatic Replenishment (PAR) bins for lower value supplies.
Next up, there is the promise of automating replenishment. You see, the solution in question also happens to be well-equipped to help healthcare organizations eliminate manual product counts and automate restock. This it does by using RFID-enabled tagging, cabinets, and PAR bins, thus automatically creating supply replenishment requests in Oracle Inventory Management.
“To help ensure clinicians have the right supplies for each procedure, inventory managers in healthcare organizations require frequent stock counts that often rely on manual data entry, which can lead to errors, replenishment delays, and item shortages,” said Chris Leone, executive vice president of applications development at Oracle. “We’re collaborating with leading RFID vendors to deliver an end-to-end solution that will allow healthcare organizations to automate stock replenishment, expand inventory visibility, improve productivity, and enable clinicians to spend less time looking for supplies and more time focusing on patients.”
Moving on to the solution’s promise of providing you with real-time inventory visibility, it basically enables users to maintain accurate stock counts through a usage update, which is markedly dispatched as soon as an item has been removed from an RFID-enabled storage location. Rounding up highlights would be technology’s potential when it comes to reducing human errors. In essence, Oracle’s RFID for Replenishment solution allows organizations to cut down on their errors with lot and serial number reporting.
“Hospital staff need the right technology to instantly identify, track, and capture the location and status of critical resources in real time,” said Brent Brown, vice president and general manager of Advanced Locationing Technology at Zebra Technologies. “Our RFID readers and precise location tracking provides real-time visibility into every item in Oracle Inventory Management. This technology helps our customers work in new ways to expand inventory visibility, streamline the operations of front-line clinicians and deliver better care.”
As for Oracle Cloud SCM, it is best known for empowering companies to connect supply chain processes, and at the same time, quickly issue their response against any changing demand, supply, and market conditions. The technology’s excellence in what it does can also be understood once you take into account how it is currently trusted by the likes of Cisco, Chipotle, Cummins, FedEx, DP World, Cohu, Honda, Michelin, Toyota, Titan, and many other heavyweights.
“Speed and accuracy will always be intrinsically linked to positive patient outcomes. Our digital identification solutions and RFID inlays have been trusted by the healthcare industry for decades,” said Barbara Van Rymenam, senior director of healthcare at Avery Dennison. “Integration into Oracle’s broader organization-wide inventory management system means that our joint customers can increase the efficiency of the services they deliver and drive more value for patients.”
