TCS' Intelligent Field Inventory Management Solution Helps Medical Device Manufacturers Gain Visibility of Surgical Kit Inventory across the Value Chain, Improve Patient Outcomes, Increase Revenues and Enhance Compliance
NEW YORK | MUMBAI, June 17, 2019: Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has partnered with SAP to launch an Intelligent Field Inventory Management (iFIM) solution, powered by SAP® Leonardo, which leverages IoT and blockchain to help medical device manufacturers streamline surgical kit handling.
Medical devices are manufactured and delivered across the globe. As a result, the supply chain process of distributing surgical kits to hospitals as well as collecting unused inventory is highly fragmented. The complex logistics make it challenging to ensure that the right kit is delivered at the right place and at the right time. Another challenge is ensuring surgical kit efficacy and sterility throughout the supply chain.
TCS’ iFIM Solution, powered by SAP Leonardo, uses Internet of Things (IoT) to build traceability of inventory and blockchain to enable greater visibility of that inventory to all stakeholders in the ecosystem – manufacturers, distributors/representatives and hospitals. This will significantly streamline and simplify surgical kit handling, improve patient outcomes, optimize field inventory and ease regulatory compliance. Additionally, quicker turnaround of returned kits boosts revenue recognition for the manufacturers. SAP Leonardo IoT business and technical services enables iFIM to integrate with core systems and to effectively scale to meet the dynamic business requirements of the life sciences supply chain.
“We have been partnering customers in the medical devices and life sciences industry, using our deep domain knowledge and expertise in digital technologies to reimagine key elements of their value chain and launch innovative products that give them competitive differentiation in a Business 4.0™ world,” said Vikram Karakoti, Head, Life Sciences Business Group, TCS. “The iFIM Solution leverages SAP's intelligent enterprise portfolio to utilize IoT and blockchain to help our customers digitally transform their loaner and consignment kit business models and deliver superior outcomes for all stakeholders in their ecosystems.”
“TCS’ iFIM solution supports our life sciences customers in accelerating their Business 4.0™ digital transformation journeys,” said Akhilesh Tiwari, Global Head, Enterprise Application Services, TCS. “Our partnership with SAP and our willingness to continually invest in building innovative industry-specific solutions leveraging the power of new-age technologies, make us the preferred innovation partner for our customers.”
Carol Mackenzie, Global Vice President, Life Science Industries, SAP SE, added, “We are excited to partner with TCS on this solution for the medical device industry. By leveraging TCS’ industry expertise and commitment to quality delivery and customer focus, we are helping life science businesses make the transformational move to an intelligent enterprise.”
TCS’ life sciences offerings are designed to help customers embrace emerging digital technologies to accelerate product innovation, enrich customer experiences, and increase productivity. A part of TCS’ Co-Innovation Network (COIN™), the Life Sciences Innovation Lab provides customers with an ecosystem to research emerging trends, develop proofs of concept and co-innovate on industry leading solutions.
TCS’ services portfolio encompasses interactive design, advisory, consulting, implementation and other support services and helps customers evaluate digital offerings such as SAP S/4HANA®, SAP® C/4HANA, SAP® SuccessFactors®, SAP® Ariba®, and SAP® Cloud Platform, and to define their roadmap, architecture, and strategy. At TCS’ innovation and demo centers in Cincinnati-US, Paris-France, Mumbai-India, and Tokyo-Japan, customers can gain a first-hand experience of innovative solutions using SAP’s new products.
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About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 424,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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