Seeloz OOS will leverage Hana and be offered in the form of tailored Software-as-a-Service point solutions running on the SAP Cloud Platform. It will complement the power of AI and Deep Learning with the scale of Hana and SCP. As a consequence, it will be able to assist hospitals, retailers and food distributors in minimizing supply chain waste.
“Around 30% of worldwide production from food, medicine and medical supply goes to waste every year. Pharmaceutical waste approaches 100 billion dollars annually in the US alone. Seeloz leverages AI and automation to minimize this waste. Therefore, the announcement marks an important milestone for us,“ said Mohamed Aly, Founder and CEO of Seeloz.
Aly added, “Hospitals can now fully depend on the scalable OOS to autonomously drive all supply procurement workflows based on accurately forecasted patient needs. We believe that collaborating with SAP will support us in our ability to mature the OOS. What is more, it will allow us to seamlessly embed it in the daily procurement workflows across the different targeted customers.”
Minimizing supply chain waste with AI
In both the healthcare and food industries, companies are losing billions annually due to waste caused by supply chain inefficiencies. Waste comes down to four primary challenge areas: supply expirations, overstock, stock-outs, and cross-warehouse movements.
These challenges can be traced to a primary root cause. Procurement workflows typically run through ERP systems not being driven by end customer needs. One example are forecasted patient needs in a hospital that are typically derived from electronic medical record systems (EMRs).
Equipped with the power of AI, the Seeloz OOS bridges the disconnect between ERPs and EMRs. It does this by using a layer of smartness autonomously running procurement workflows. Consequently, it optimizes supply availability and minimizes waste.
Seeloz offers tailored versions of OOS to optimize operations for each of the players along the food and healthcare value chains. This not only includes providers (i.e., hospitals and retailers), but also distributors and manufacturers. Since its launch in 2017, the OOS demonstrated an ability to minimize supply waste, and particularly expirations, by 50% to 80% for hospitals, food distributors and pharmaceutical distributors. As a result, early adopters of the OOS were capable of reducing overall supply costs by 5% to 20%.
First and foremost, the focus of the partnership will be to offer the OOS to hospitals and integrated delivery networks in the US and in selected international markets. Equally important is that OOS is agnostic from the underlying software systems already run by customers (e.g., ERPs and EMRs).
Therefore, the collaborative go-to-market approach is intended to help a wide range of integrated delivery networks and hospitals. For example, by enabling them to tap into the power of the OOS to achieve supply cost reductions.