Supply
Chain
Optimization
with Velocity
What is Velocity?
While several other industries have streamlined their supply chains through forecasting and traceability, hospital labs often lack the data and analytics to better understand patterns of purchase and usage of supplies, especially physician preference supplies.
Velocity builds on the foundation of Track, and each individual data point is captured by a Track handheld during a procedure to create a robust analytics tool to unlock substantial savings. The predictive purchasing algorithms of Velocity analyze your supply spend in a number of ways. Velocity offers healthcare facilities data-backed inventory levels, expiration management, and ordering forecasting all in one simple to use dashboard.
Velocity Features
Perfect Par Levels
Use utilization rates for each product in your inventory to make sure you always have enough on hand without overstocking.
Expiration Management
Know which items are in danger of expiration so that you can utilize them before they become waste. See long-range expiration risks so you can work with vendors to refresh your inventory.
Back Order Management
Always be aware of backorders and ensure your team can manage them effectively, have replacement products ready, or implement the correct processes to obtain what you need from the physician.
Real Time Inventory Valuations
See your current inventory valuation, categorized by product type, consigned/owned, and more.
Demand Forecasting
Allowing you to forecast your organization’s demand for these products so you can make commitments to vendors for savings.
The Benefits of using Velocity
Ready to Make Your Medical Inventory Management Simple?
Contact us today to learn more about Velocity and how you can better your buying strategies or to schedule a demo!
