SupplyScape Customers Realize the Network Effects of Supply Chain Transformation
Woburn, Mass., January 12, 2007 - Pharmaceutical industry adoption of patient safety and product security solutions took center stage in 2006. As evidence, more than forty-five companies implemented electronic pedigree and EPC authentication solutions from SupplyScape Corporation. This adoption trend touched all segments, including many of the largest pharmaceutical and biotech companies, 3PLs, chain pharmacies and specialty distributors, as well as mid-size and small repackagers and medical-surgical suppliers.
"We've seen customer adoption grow tenfold in the last year, with more companies using SupplyScape than all other solutions combined," said Shabbir Dahod, CEO of SupplyScape. "Our customers are experiencing the network effects of our supply chain transformation vision. Companies that have adopted the technology are now realizing the potential to achieve better supply chain efficiency and lower the cost of doing business, and they're also realizing new revenue opportunities with a broadening network of trading partners."
Over 200 million drug bottles have electronic pedigrees already, and the pace is expected to accelerate with this week's ratification of the EPCglobal Drug Pedigree Standard. Additionally, in just the past 12 months, over 3.5 million drug authentications occurred across the Pharma supply chain through the SupplyScape RxAuthentication Service, the industry's first EPC authentication service utilizing EPCIS with network-wide business applications.
Transforming the Pharmaceutical Supply Chain into a Value Network
At a time when the pharmaceutical supply chain is undergoing dramatic change, SupplyScape is helping to catalyze the industry's movement toward more efficient value networks. This vision is attracting interest in every segment of drug distribution - pharmaceutical and biotech companies, distributors, 3PLs, and pharmacies.
"In 2007 we expect to see expanded industry adoption of transformational supply chain technologies throughout the Pharma value chain, as companies increase focus on synchronizing the physical product flows with their related information flows and financial transactions," said Eric Newmark, Senior Research Analyst, Health Industry Insights (an IDC company). "These value-oriented solutions enable companies to drive revenue growth, minimize costs and realize maximum ROI through the network effects of supply chain transformation."
As more companies orchestrate supply chain operations through serialization, authentication, and pedigree programs, everyone across the Pharma value chain benefits from this foundation for information access, network visibility, and trading partner synchronization. Originally adopted for patient safety and product security, these business solutions provide a revolutionary ability to improve availability, reduce supply cost, and enhance financial transaction reconciliation.
"We find companies are no longer satisfied with the status quo of tactical RFID pilots," said Robin Koh, chief strategy officer at SupplyScape. "Instead, customers seek significant business benefits through transformational solutions, and we see increased emphasis on building efficient, responsive, and secure value networks, today. Our customers tell us that they're now able to gain far more visibility into their trading partner networks than they had before."
Some of the most transformational initiatives are a result of strategy engagements spearheaded by SupplyScape supply chain experts, including Koh and other value network strategists who formerly led business applications and ROI analysis at the MIT Auto-ID Center. The SupplyScape strategy consulting team works with the largest biotech and pharmaceutical companies and retail chains to define the ROI blueprint for their serialization, patient safety and supply chain optimization programs.
"The benefits are numerous and tangible when these business blueprints are linked to top-line corporate strategies." added Koh. "Serialization and product identity down to the item level enable visibility and control of product movement. Synchronization between demand signals and supply responses results in cost-effective inventory availability, improved product launch potential, and the ability to respond immediately to unanticipated market events and opportunities. In addition, rapid and precise financial reconciliations offers the opportunity to drive down the cost of healthcare while maximizing revenue streams for trading partners across the supply network." added Koh.
About SupplyScape
SupplyScape Corporation is a leading provider of supply chain software and expertise to drive maximum security and value in the pharmaceutical supply chain. A pioneer in defining both the open universal EPCglobal-standards-based pedigree solution and the EPC authentication service for the pharmaceutical industry, SupplyScape provides market-leading authentication, ePedigree, trading partner integrity, and certificate authority services and solutions that efficiently support the diverse operational environments spanning the entire pharmaceutical value chain. The company's solutions enable pharmaceutical and biotechnology companies, wholesalers, distributors, and pharmacies to maximize patient safety and product revenue throughout the pharmaceutical and biotechnology value chains. For more information, visit www.supplyscape.com.
