HARVARD DRUG GETS A HEALTHY OUTLOOK with Inventory Optimization
Company Size
1,000+
Region
- America
Country
- United States
Product
- Manhattan SCALE™
- Inventory Optimization
Tech Stack
- Demand Forecasting
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Functional Applications - Inventory Management Systems
Applicable Industries
- Healthcare & Hospitals
- Pharmaceuticals
Applicable Functions
- Procurement
- Warehouse & Inventory Management
Use Cases
- Inventory Management
- Predictive Replenishment
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Harvard Drug is a privately-held company distributing a deep catalog of brand and generic pharmaceuticals, over-the-counter medications, and supplements to more than 15,000 wholesale and retail customers. The company’s offerings grew through a series of acquisitions that began in 2006, and today includes more than 18,000 products over multiple divisions: Major Pharmaceuticals, Wholesaler & Distributor, Retail Pharmacy, Medical, Compounding, and Veterinary Sales. The company operates four warehouses and has seen significant growth in its catalog products.
The Challenge
Despite tremendous growth in catalog products, Harvard Drugs’ buyers were still using Excel spreadsheets to manage inventory across the company’s four warehouses. Silos across the organization created additional inefficiencies. By early 2011, new CEO Terry Haas led a three-month evaluation of processes throughout the enterprise. Hass brought in Kerry Porter in May of 2011 to enable a new vision for Harvard Drug. The turn on inventory was identified as a critical issue, and the company was more of a 'sourcing' organization than a replenishment organization.
The Solution
Harvard Drug selected Manhattan’s Inventory Optimization solution to improve productivity throughout purchasing and allow buyers to forecast and replenish more strategically. The implementation of Manhattan’s 'fast track' solution allowed Harvard Drug to see results quickly. Inventory Optimization enabled Harvard Drug to ditch the spreadsheets and break down silos across the divisions. The solution allowed buyers to plan for seasonal demands and make smarter purchasing decisions based on previous trends. The system also standardized processes for buyers, making the organization more nimble and allowing staff to focus on analytics and planning rather than just placing purchase orders.
Operational Impact
Quantitative Benefit
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