Oracle Helps Healthcare Organizations Automate Inventory Management with RFID

PRNewswire 11-Sep-2024 9:10 AM

New RFID-powered solution helps Oracle Cloud SCM customers ensure the right supplies are available at the right time and the right locations to drive better patient experiences

LAS VEGAS, Sept. 11, 2024 /PRNewswire/ -- Oracle CloudWorld -- Oracle today announced a new replenishment solution in Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) to help healthcare customers optimize inventory management. The new RFID for Replenishment solution in Oracle Fusion Cloud Inventory Management, part of Oracle Cloud SCM, utilizes RFID technologies from Avery Dennison, Terso Solutions, and Zebra Technologies to automatically capture usage, update stock balances, track location, and trigger restocking of supplies and materials. RFID for Replenishment helps healthcare organizations increase productivity, expand inventory insights, and prevent delays by helping ensure the right amount of stock is in the right location at the right time.

"To help ensure clinicians have the right supplies for each procedure, inventory managers in healthcare organizations require frequent stock counts that often rely on manual data entry, which can lead to errors, replenishment delays, and item shortages," said Chris Leone, executive vice president of applications development, Oracle. "We're collaborating with leading RFID vendors to deliver an end-to-end solution that will allow healthcare organizations to automate stock replenishment, expand inventory visibility, improve productivity, and enable clinicians to spend less time looking for supplies and more time focusing on patients."

With RFID for Replenishment in Oracle Inventory Management, healthcare organizations can:

• Track medical supplies: Helps organizations track a range of different medical supplies with either RFID-tagging for high-value non-implantable items; RFID-enabled cabinet, refrigerators, and freezers for items with specific climate requirements; or RFID-enabled Periodic Automatic Replenishment (PAR) bins for lower value supplies.
• Automate replenishment: Helps organizations eliminate manual product counts and automate restock by using RFID-enabled tagging, cabinets, and PAR bins to automatically create supply replenishment requests in Oracle Inventory Management.
• Gain real-time inventory visibility: Helps organizations maintain accurate stock counts by triggering a usage update as soon as an item has been removed from an RFID-enabled storage location.
• Reduce human error: Helps organizations reduce errors in lot and serial number reporting and maintain an accurate view of stock levels by fully automating inventory management.

Supporting quotes:
"Speed and accuracy will always be intrinsically linked to positive patient outcomes. Our digital identification solutions and RFID inlays have been trusted by the healthcare industry for decades," said Barbara Van Rymenam, senior director, healthcare, Avery Dennison. "Integration into Oracle's broader organization-wide inventory management system means that our joint customers can increase the efficiency of the services they deliver and drive more value for patients."

"The lack of inventory visibility throughout the healthcare supply chain is a growing challenge for all stakeholders," said Joe Pleshek, CEO, Terso Solutions. "With our RFID-powered cabinets, refrigerators, freezers, and read points, and Oracle's inventory management capabilities in one end-to-end solution, we can help healthcare organizations automate processes, improve the speed and accuracy of replenishment, and optimize operations for greater patient outcomes."

"Hospital staff need the right technology to instantly identify, track, and capture the location and status of critical resources in real time," said Brent Brown, vice president, general manager, Advanced Locationing Technology, Zebra Technologies. "Our RFID readers and precise location tracking provides real-time visibility into every item in Oracle Inventory Management. This technology helps our customers work in new ways to expand inventory visibility, streamline the operations of front-line clinicians and deliver better care."

Oracle Cloud SCM helps organizations seamlessly connect supply chain processes and quickly respond to changing demand, supply, and market conditions. With new features added every quarter, Oracle Cloud SCM helps customers create a resilient supply network and processes that outpace change.

For additional information on Oracle Cloud SCM applications, visit oracle.com/scm.

About Oracle
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About Oracle CloudWorld
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About Avery Dennison
Avery Dennison Corporation is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability, circularity and transparency, and better connect brands and consumers. Our products and solutions include labeling and functional materials, radio frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and a variety of products and solutions that enhance branded packaging and carry or display information that improves the customer experience. Serving an array of industries worldwide — including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive — we employ approximately 35,000 employees in more than 50 countries. Our reported sales in 2023 were $8.4 billion. Learn more at www.averydennison.com.

About Terso Solutions
Terso Solutions, Inc. is backed by over 18 years of RFID product development and implementation experience. Our product line includes RAIN RFID enabled cabinets, refrigerators, freezers (-86°C to -5°C), read points, mobile solutions, and rooms. Terso has deployed over 3,500 RAIN RFID-enabled devices worldwide. Headquartered in Madison, WI, Terso Solutions is a wholly owned subsidiary of the Promega Corporation. 

About Zebra Technologies
Zebra helps organizations monitor, anticipate, and accelerate workflows by empowering their frontline and ensuring that everyone and everything is visible, connected and fully optimized. Our award-winning portfolio spans software to innovations in robotics, machine vision, automation, and digital decisioning, all backed by a +50-year legacy in scanning, track-and-trace and mobile computing solutions. With an ecosystem of 10,000 partners across more than 100 countries, Zebra's customers include over 80% of the Fortune 500. Newsweek recently recognised Zebra as one of America's Most Loved Workplaces and Greatest Workplaces for Diversity, and we are on Fast Company's list of the Best Workplaces for Innovators. Learn more at www.zebra.com or sign up for news alerts. Follow Zebra's Your Edge blog, LinkedIn, X and Facebook, and check out our Story Hub: Zebra Perspectives.

Future Product Disclaimer
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Forward-Looking Statements Disclaimer
Statements in this article relating to Oracle's future plans, expectations, beliefs, and intentions are "forward-looking statements" and are subject to material risks and uncertainties. Many factors could affect Oracle's current expectations and actual results, and could cause actual results to differ materially. A discussion of such factors and other risks that affect Oracle's business is contained in Oracle's Securities and Exchange Commission (SEC) filings, including Oracle's most recent reports on Form 10-K and Form 10-Q under the heading "Risk Factors." These filings are available on the SEC's website or on Oracle's website at oracle.com/investor. All information in this article is current as of September 11, 2024 and Oracle undertakes no duty to update any statement in light of new information or future events.

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SOURCE Oracle