Press Release : Syft® Releases New Economic Impact Calculator to Assess Supply Chain Inventory Optimization
The online tool offers hospital and health system leaders a personalized report on potential inventory savingsStratford, CT – November 11, 2019 – Syft®, a leading national provider of healthcare inventory control and end-to-end supply chain cost management software and services, today released its Supply Chain Inventory Optimization (SCIO) tool.
The SCIO online tool aims to quantify the economic impact of addressing inventory on-hand levels. Additionally, users of the SCIO tool can request a full impact analysis that expands the discussion to include seven additional use cases that may result in new or augmented cost savings, improved supply chain processes, improved labor efficiencies, reduced medical supply spend or medical supply waste, and other areas as discovered with a total supply chain cost savings analysis.
“We see this as a powerful step in helping hospital and health system leaders optimize their supply chain operations,” said Whitney St. Pierre, VP of Marketing. “These organizations have unique supply chain processes and needs, and what this calculator does is quantify an individually-tailored calculation for return on investment. We identified the use cases that are most important to the supply chain optimization equation and are most directly impacted by the Syft Synergy® platform. The goal is for every user of the SCIO tool to be able to see how much efficiency they can gain with an improved supply chain process.”
While the inventory optimization savings calculator is available online, a total economic impact calculation is available via consultation with a Syft representative. For more information contact SyftImpact@SyftCo.com.
About Syft Synergy®
The Syft Synergy platform gives supply chain and clinical staff visibility into products being used across the entire health system including perioperative, procedural areas and nursing units. This data intelligence enables healthcare leaders to better understand supply spend, consumption, waste, and variance, resulting in standardization opportunities and surgical cost savings. Additionally, Syft provides procedural level decision support metrics on cost and variance which is linked to patient outcomes. This information provides the platform for surgeon benchmarking discussions leading to improved costs and efficiencies.
This year, Syft’s supply chain software has been updated twice (currently to Syft Synergy 4.1) and Syft integrated with Oracle Supply Chain Management Cloud to create a more efficient and integrated, warehousing, distribution, and clinical supply chain experience for customers. Syft’s new AI capabilities harness the power of machine learning, a type of AI in which computers can continually refine algorithms as additional information is captured. AI enables the health system to continually update its forecasts to make them increasingly precise. The first time the system forecasts demand, it can only use past data; over time, AI enables the system to become more intelligent as the data set grows. The result is a powerful analytics engine that provides actionable insights.
About Syft® (Formerly Management Health Solutions)
Syft® enables enterprise-wide inventory management through a powerful combination of services, automation tools, and real-time data analytics. The comprehensive Syft Synergy® platform eliminates the need for multiple point solutions and facilitates immediate supply savings with a range of capabilities including master data management, inventory services, supply chain management software, analytics, and advanced reporting. Founded in 1999, Syft is used by more than 500 U.S. hospitals and health systems to control costs, processes, and productivity across the entire organization. For more information, visit Syft at www.syftco.com.