Powered by AI and ML, Supply Chain Frontlines Efficiency

Pharma Tech Outlook: Pharma Tech Magazine

Powered by AI and ML, Supply Chain Frontlines Efficiency

Pharma Tech Outlook | Thursday, August 20, 2020

The necessity of innovations in the pharmaceutical supply industry has grown over the past years. Today, with the help of AI and machine learning, the sector builds an efficient market for pharmacy.

FREMONT, CA: Pensiamo, a cognitive supply chain company to support healthcare providers, co-develops a new pharmaceutical monitoring tool known as CognitiveRx, partnering with UPMC. It helps in monitoring market demand and maintaining inventory levels during drug storage with the help of machine learning. Pensiamo aims to transform the healthcare industry through supply chain elevations and achieve higher-level performance.  

Pensiamo delivers sustainable value and competitive advantages to each customer by focusing on a result-oriented culture in supply chain service. Combining the power of supply chain management tools and cognitive computing, experts provide opportunities to improve the unstructured data, both internally and externally. The initiative reduces high costs, which majorly affects modern healthcare organizations due to the unstructured data. It allows the organizations to access the information in a readable format, create an analytical view to make better decisions, anticipate trends, and drive down the costs.

CognitiveRx delivers a complete pharmaceutical supply chain solution that manages and solves the related challenges such as drug shortage, inflation, declining reimbursement, and other factors. The implemented features to precisely monitor the market demand signals, shortage risk, and inventory level recommendation cover all the requirements of healthcare supply distribution. The innovation impacts majorly on the decision making stage of the suppliers for product selection and usage to deliver value-based healthcare.

CognitiveRx powers the teams of data managers, data scientists, and pharmacy professionals to work together and achieve significant results. It optimizes the massive data like purchase reviews and product insights and develops machine learning algorithms to enable automation by replacing the manual manipulation. The integration of machine learning and AI leverage the reliability, fasten the process of controlling and reduce the pharmaceutical cost. Pensiamo offers a compact solution for the pharmaceutical supply sector with its new product, which efficiently reduces the risk of the supply chain, predicts the insights on price fluctuations, and highlights further opportunities.   

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