Enhanced Workflow of a Public Company for Life Science, Healthcare with BI
Overview
The customer maintains product warehouses at approximately 500–600 sites globally (R&D, manufacturing and clinical sites). The sites range in capacity from ~20 scientists at small sites to ~1,000 scientists at the larger sites.
The customer supports the scientific and clinical research as well as manufacturing processes, therefore critical to be in stock so as not to hold up the critical research and supply chain.
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Challenges
Customer products support the scientific and clinical research as well as manufacturing processes, therefore critical to be in stock to not hold up the critical research and supply chain
Currently customer stocks the warehouse by visiting multiple times in a day. The entire process is cumbersome and inefficient
The cost is heavy by managing inventory without any futuristic predictions of daily consumptions
Solutions
- ACL Digital built an AI/ML powered Supply Chain Optimized workflow.
- Our solution enabled the customer to
- Improve Customer Service by minimizing stock outs and having products available for the scientists at each site when they need them.
- Reduce costs and man hours and build efficiency by reducing the number of in-person site visits for replenishing stockroom items, to be accomplished through accurate predictions of product usage based on existing/legacy inventory data.
Outcomes
- Able to predict greater than 70% accuracy for 15% of products for daily transactions
- Identify Fast, Medium and Slow – Moving products
- Able to provide insights of products by Site, Point of Use
