For 2023, Premier’s PINC AI™ Supply Disruption Manager was recognized for its ability to help healthcare organizations stay ahead of product shortages that can negatively affect the delivery of patient care and hinder quality outcomes.
Powered by artificial intelligence (AI) and predictive analytics, this innovative solution is aiding organizations in predicting product shortages far in advance with over 90 percent accuracy.
Historically, the healthcare sector lacked the ability to predict when a product might become short. Analyzing robust data and utilizing AI algorithms, the PINC AI™ Supply Disruption Manager generates predictions of future demand and identifies potential shortages for specific medical products. Armed with these insights:
Providers receive real-time notifications when purchased products are at risk of shortage. The integrated predictive system also recommends clinically approved equivalent products, minimizing supply chain disruptions and mitigating risks to patient safety.
Suppliers can adequately plan production and inventory management, anticipating demand spikes and preventing shortages.
The power of this innovative solution lies in its scalability. By aggregating data across facilities, a comprehensive and accurate picture of national demand and supply dynamics emerges. This real-time information exchange allows for a more synchronized response to potential shortages and a more resilient healthcare supply chain.
Notably, Premier continues to provide early communication to our members, the U.S. Food and Drug Administration (FDA), the White House and other government and supply chain stakeholders on potential or impending shortages of any healthcare product.
Robust data from the PINC AI™ Supply Disruption Manager helps inform Premier’s product watch list to provide insights on backorders and potential shortages, and advocate for prioritization of critical products. Premier also continues to work closely with federal and state agencies and industry organizations on strategies to gather data, forecast demand, identify needed regulatory changes, increase available supplies and allocate based on need.
“For over 20 years, NC TECH has celebrated companies, organizations and individuals for outstanding achievement at the NC TECH Awards. As a finalist this year, Premier has distinguished itself as one of the state’s innovative and emergent leaders,” stated Brooks Raiford, NC TECH’s President and CEO.
AI and other advanced technology solutions have transformative potential for the supply chain – and for healthcare, including the ability to sift and parse through mountains of data, mitigate supply shortages, streamline tasks and workflows, optimize healthcare purchasing, and more.
We’re proud of our work and the advancements we’ve made with our members and suppliers to help ensure access to high-quality products – and the actionable
data and intelligence needed now and for the future. And we’re proud to be selected as a Finalist in the 2023 NC TECH Awards.
Chief Operating Officer, Premier
Leigh has overall responsibility for Premier’s operations, growth and product innovation across both the Performance Services and Supply Chain Services agreements, including modernizing and tech-enabling supply chain products and services to support member needs for greater transparency, resiliency and automation of manual tasks.