October 23, 2024 Custom App, Use Cases

AI-Powered App for Pharmaceutical Supply Chain Management

Context: A leading pharmaceutical company looking to streamline its supply chain and ensure the timely delivery of medical supplies to global locations.  

Challenge: The client faced issues with managing the complexity of their supply chain, which involved multiple suppliers, warehouses, and delivery networks. Tracking and predicting demand, especially for critical medicines, was time-consuming and prone to errors, leading to inefficiencies and stock shortages.  

Action  

  1. Demand Forecasting and Inventory Optimization:  
    • Our generative AI solution analyzed historical sales, seasonal trends, and external factors such as pandemics or regulatory changes to predict future demand for medications.  
    • The app automatically adjusted inventory levels in real-time, ensuring that critical medications were always available without overstocking.  
  1. Automated Supplier and Warehouse Coordination:  
    • The AI-driven app enabled seamless communication between suppliers, warehouses, and the company’s logistics teams. The AI automated order placement, supplier management, and warehouse routing based on current inventory and demand forecasts.  
    • This allowed the client to avoid bottlenecks and delays, ensuring efficient delivery of supplies.  
  1. Real-Time Supply Chain Monitoring:  
    • The app provided real-time insights into the supply chain, allowing the company to monitor inventory levels, shipping times, and potential disruptions.  
    • If any issue arose, the AI automatically suggested alternative solutions, such as rerouting shipments or prioritizing specific products.  

  

Result: Novacept developed a custom AI-powered app that leveraged generative AI to optimize and automate the supply chain.

  • Enhanced Efficiency: The client saw a 35% improvement in supply chain efficiency, with reduced lead times and fewer stockouts of critical medicines.  
  • Cost Savings: By optimizing inventory and reducing manual processes, the company saved 20% on supply chain-related costs.  
  • Improved Scalability: The AI-driven app allowed the client to scale their operations globally without worrying about supply chain disruptions.