Easy-to-use software provides visibility into product expiration and potential waste
SxanPro, a healthcare supply management technology company, has launched a new inventory product called LINK. LINK is taking the manual tracking out of physical inventories and providing a digital, data-driven solution to hospitals to help reduce waste from expired and overstock medical supplies.
LINK leverages SxanPro’s patented scanning technology to capture the information from the manufacturer barcode and connect it to the data from a hospital’s master data file. By using the mobile app to replace pen-and-paper inventory processes, instant visibility into expiration date, lot number, product usage and value of on-hand inventory is provided for high-risk and procedure areas. The cloud-based admin portal offers custom reporting and dashboards of inventory metrics available to supply chain leaders to view at any time.
“We found that healthcare leaders wanted an inventory tool that provided more than just a count. LINK is providing an actual ROI by giving supply chain teams actionable data to stay ahead of product expiration all year,” says Ashlea Souffrou, founder and CEO of SxanPro. “Because hospitals don’t know what’s expiring on their shelves, they are losing an average of 8% of their supply spend each year. Our technology has been built to reduce that and our hospital partners are seeing real results.”
In one pilot, a 700-bed hospital used LINK to uncover nearly $2M in expiring, overstocked and unused inventory. In two days, the hospital’s supply chain team was able to move products to high-volume locations, trade in unused, short dated products to the manufacturer and track the exact location and value of items at risk of expiration.
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