Weekly Business Insights 01/29/2024
Is Your Store Brand Ready for a Digital World? Explore the Top 10 Healthcare Supply Chain Trends in 2024. Driving Compliance through Directed Buying in Healthcare Supply Chains.
Is Your Store Brand Ready for a Digital World?
Traditional store brand* product identification doesn’t work well online. Before e-commerce and omni-channel retail, store brands sold were limited to the four walls of the retail store. These products were labeled with internal proprietary identifiers, whose sole purpose was to support price lookups. In today’s unified commerce world, where digital and physical shelves are interchangeable — and where digital-savvy consumers are browsing, shopping, and purchasing what they want, where they want, and how they want—these proprietary identifiers are now limiting the product’s discoverability and sales opportunities.
Adopting Standards for product identification provides context and meaning to search engines and content sharing applications, eliminating any consumer confusion caused by proprietary numbering. Using this globally-accepted standard, consumers can trust the results that appear in their searches.
Explore the Top 10 Healthcare Supply Chain Trends in 2024
In this week’s topic, we are going to see how are healthcare businesses improving supply chain management with technology? This data-driven industry research focuses on 1759 companies and their solutions spanning supply chain transparency, inventory management, healthcare supply chain analytics, digital twin, and more!
Effective healthcare supply chain management ensures the availability of safe and quality medical products, equipment, and services for patients. It plays a crucial role in patient safety by preventing the distribution of counterfeit or substandard products. The industry is witnessing increasing adoption of IoT, robotics, digital twin, and more. Moreover, effective supply chain management contributes to cost optimization by minimizing procurement expenses, reducing waste, and streamlining inventory levels. The new trends in healthcare supply chains outlined in this report only scratch the surface of trends that we identified during our data-driven innovation & startup scouting process. Identifying new opportunities & emerging technologies to implement into your business goes a long way in gaining a competitive advantage.
Driving Compliance through Directed Buying in Healthcare Supply Chains
For today’s healthcare supply chain professional, procurement pathways are as complex as the large health system’s service delivery models are varied. As a result, there are multiple requesting locations, served by different inventory locations and distribution channels, covering an always increasing number of contract items and prices.
When it comes time to purchasing goods and services, each requisitioner across the continuum of care cannot be expected to understand all these nuances or remember the preferred vendor, item and price relationship.
Directed buying is about making it easy for every requisitioner to do the right thing – purchase the right item, from the right source, at the right price, in real time.