TraceLink Inc., the largest end-to-end intelligent supply chain platform for life sciences and healthcare, announced a strategic partnership with Tecsys, a global leader in supply chain management solutions. For healthcare systems, a lack of supply chain and inventory visibility can lead to a variety of challenges, including time-consuming product recall management, regulatory non-compliance, excess inventory carrying costs, lack of up-to-date product master data and sales catalogs, and more. This partnership between TraceLink and Tecsys aims to combine market-leading capability for external supplier integration and information exchange with industry-acclaimed inventory and warehouse management functionality.
“Partnering with Tecsys allows TraceLink to offer health systems the ability to source real-time supply chain information from 100% of their suppliers directly into their inventory management system, thereby eliminating time-consuming effort that busy pharmacy staff have to expend on a variety of challenges,” said Shabbir Dahod, President and CEO of TraceLink. “This partnership underscores TraceLink’s commitment to delivering innovative multi-enterprise data and solutions that improve patient outcomes and streamline supply chain operations, without the need for expensive or time-consuming enterprise system changes or upgrades.”
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Integrated Solutions for Enhanced Supply Chain Management
TraceLink and Tecsys bring together their respective strengths to offer health systems unparalleled visibility and control over their supply chains and inventory. The integration of TraceLink’s multi-enterprise digital network platform with Tecsys’ enterprise health warehouse management system enables health systems to:
- Achieve Compliance with DSCSA: The combined solution ensures that health systems can meet DSCSA requirements with the least amount of disruption to their receiving workflow. By integrating the verification of DSCSA compliance information into the standard receiving process, the number of scans needed is significantly reduced, streamlining operations and freeing up valuable resources.
- Digital Recalls: TraceLink‘s Digital Recalls solution, integrated with Tecsys’ pharmacy warehouse management system, provides pinpoint accuracy to the location of recalled product within the health system, or will notify staff if the product has already been dispensed to a patient. Recalled product is also detected upon receiving to ensure that the product does not enter available inventory. This integrated approach frees up valuable skilled pharmacy resources and enhances patient safety.
- Expiry Management: The joint solution offers comprehensive expiry management by maintaining a digital representation of lot and expiration dates. When combined with inventory location information supplied by Tecsys, expired or near-expired products are quickly identified and retrieved, thereby accelerating the return credit reimbursement.
- 340B Inventory Management: The partnership ensures precise handling of 340B and non-340B inventory, providing the correct compliance information before receipt, thus streamlining inventory management for Covered Entities and Contract Pharmacies.
SOURCE: PRNewswire