Executive Briefings

Big Data Analytics Helps Healthcare Product Supplier Keep Tabs on Inventory

H.D. Smith is using cloud analytics software to get a better handle on its supply chain, allowing it to slice and dice inventory by profit margin and customer as well as track the shipping route of prescriptions and health and other wellness products.

Big Data Analytics Helps Healthcare Product Supplier Keep Tabs on Inventory

H. D. Smith overcame a several-years-long struggle to rein in its supply chain information using analytics software that tracks data on the 100,000 products, including prescription drugs, health, wellness and beauty products, the company ships to hospitals and drugstores. CIO David Guzman, who led the initiative for the Springfield, Ill.-based company, says analytics have also helped reduce costs and boost sales and will eventually help customers improve their patient outcomes.

"Analytics and data are gold for our suppliers and customers," Guzman said.

Big data analytics has emerged as a strategic priority for corporate IT departments tasked by senior management to drive operational efficiencies or lend new insights into customer activity. Some 76 percent of companies are investing or planning to invest in big data services in the next two years, according to a new survey of IT and business leaders by Gartner.

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H. D. Smith overcame a several-years-long struggle to rein in its supply chain information using analytics software that tracks data on the 100,000 products, including prescription drugs, health, wellness and beauty products, the company ships to hospitals and drugstores. CIO David Guzman, who led the initiative for the Springfield, Ill.-based company, says analytics have also helped reduce costs and boost sales and will eventually help customers improve their patient outcomes.

"Analytics and data are gold for our suppliers and customers," Guzman said.

Big data analytics has emerged as a strategic priority for corporate IT departments tasked by senior management to drive operational efficiencies or lend new insights into customer activity. Some 76 percent of companies are investing or planning to invest in big data services in the next two years, according to a new survey of IT and business leaders by Gartner.

Read Full Article

Big Data Analytics Helps Healthcare Product Supplier Keep Tabs on Inventory