Ingenica Solutions 360 IM: improving inventory management during the Covid 19 outbreak
Whilst we all face this crisis together, Ingenica Solutions continues to play a prominent role in reshaping and supporting the healthcare supply chain and procurement landscape. The coronavirus pandemic is severely impacting inventory management in the NHS, particularly those hospitals without innovative systems in place to help them, and especially for PPE equipment.
Innovative technologies make it safer for patients, and allow clinicians to spend more time on the frontline, which has never been more important. Inventory management system, Ingenica Solutions 360 IM, can help to alleviate the impact of the outbreak during these challenging times by reducing the manpower requirements for managing the extra-ordinary demand levels and automating the replenishment process; by providing visibility of stock.
Ingenica Solutions’ 360 IM provides trusts with a 360-degree view of supply chain cost drivers; tracking and tracing products across the trust estate and wider. It provides the opportunity to improve efficiencies at a critical time; helping NHS trusts to cut costs, implement smarter processes and deliver better patient care.
Nicola Hall, founder and COO at Ingenica Solutions said, “As we expand Ingenica 360’s capabilities, we will also be able to track people and equipment to further improve efficiencies. It is this type of technology that is instrumental in reshaping the entire NHS back office releasing clinical time to patient care.”
Patient safety and cost-savings are key drivers, and our innovative technology is an opportunity for NHS trusts to scale savings and efficiencies without affecting quality. It enables the NHS to achieve long-term financial (e.g. cost savings from reduction in over stocks, elimination of stock obsolesce, reduction in disposal costs) and operational efficiencies (e.g clinical time back to frontline), providing excellent return on investment. Our technology contributes to better patient safety too by tracking and tracing medical supplies, such as high value implants, from point of manufacture to point of care.
The trusts that we work with are part of the NHS tech transformation and together we’ve demonstrated value financially as well as value to the patients. For instance, implementation of Ingenica Solutions 360 IM at Lancashire Teaching Hospitals NHS Foundation Trust has led to £3+ million cost savings, plus a saving of more than 7,104 clinical hours (the equivalent of four FTE). While Taunton and Somerset NHS Trust has achieved a 90% reduction in clinical time spent on stock ordering and replenishment.
Nicola continues, “Our core solution is inventory management, there are two versions of the solution; Ingenica 360 and Ingenica 360 Lite. We are now providing additional solution and services that sit within the area of back office efficiency, solving other issues we see in the space that need resolution. These include product recall management, loan kit management asset/equipment tracking (RFID enabled), data analytics, sterile services kit management and resources management.”
The coronavirus outbreak has brought the importance of effective inventory management firmly into the spotlight, and Ingenica Solutions is here to transform the old, outdated and flawed approaches to support better procurement and supply chain processes in the future.