by Marloes Dijkema-Boyd, PFSCM Digital Media Specialist at PFSCM based in the Netherlands.
Data and analytics in global health play a critical role in increasing efficiencies and improving sustainability while mitigating risk. Through the use of data, organizations can make better decisions, reduce costs and improve product quality and patient care for better health outcomes.
At the Partnership for Supply Chain Management (PFSCM), we embrace the digital supply chain and believe that data is essential to driving positive change in the health sector.
In a recent webinar discussion on the use of data loggers to reduce insurance claims, PFSCM 4PL Services Director Ishmael Muchemenyi stressed the significance of data in managing risk health supply chains.
He explained that proper collection and analysis of the abundance of data can help supply chain professionals pinpoint exactly where in the supply chain something went wrong; something that is normally hard to determine.
“There is no shortage of data in health supply chains. All roleplayers are producing and collecting data, but what makes the difference in the efficacy of the data is the approach that is taken from a collaborative perspective to ensure data is being used purposefully. When stakeholders have shared visibility into data the insights become valuable for decision making.”
Muchemenyi shared an example of how PFSCM and insurance technology company Parsyl have been collaborating to track data points throughout the supply chain – from shipment to the final destination – using data loggers.
“Data loggers play an essential part in the data tracking process. The devices provide a complete record of temperature information that can be used to establish precisely where issues occur. This data is fundamental in cold chain logistics, where even a small deviation from the proper temperature can result in spoiled or damaged goods.”
By collecting and analyzing data from various data loggers throughout the chain, PFSCM can identify issues and correct them before they cause problems. “This data also allows us to track trends and optimize our processes to ensure that we are constantly working towards a more sustainable future.”
He adds that since implementing Parsyl’s data loggers in 2021, PFSCM’s monitoring and control of potential incidents have improved greatly. In fact, PFSCM has reduced its number of insurance claims by 97% even as shipping volumes increased and the insurance market hardened.
“Using real-time data effectively, we proactively mitigate many insurance claims across the board, and increasing the supply chain visibility means we are wasting less time around the insurance process and saving costs.”
In addition, having a digital supply chain and Control Tower has enabled the various stakeholders in PFSCM’s supply chain to better understand situations that could result in risk. “Owing to increased data visibility, and a combination of the right tools and partners, we are able to save time, drive accountability among stakeholders, proactively manage issues, and always keep our finger on the pulse ensuring risk is managed optimally.”
Meanwhile, with the ever-growing demand for healthcare around the world, it has never been more important for health supply chains to make use of all the tools at their disposal to collect, analyze and share data.
“The use of data within health supply chains is critical for mitigating risks, promoting collaboration, and increasing sustainability. By understanding how data can be used to improve the flow of goods and services, we can work together to create a more efficient and sustainable global health system,” concludes Muchemenyi.
|The 5 benefits of streamlining processes using data in health supply chains:
1. Data helps predict and prevent stock-outs.
2. Data ensures that products are delivered to the right people at the right time.
3. Data reduces wastage and improves sustainability.
4. Data supports better decision-making.
5. Data enhances transparency and accountability.
|Watch an on-demand webinar on “Data: the cold chain’s answer to better risk management and insurance coverage”, in which PFSCM and friends discuss how data can be used to improve freight optimization and provide better insurance for cold chain shippers. Complete the “Register Now” form to access the on-demand webinar.