New Tracking Software for Inventory Cycle and Risk Management Eases Demand Pressure in Post-Pandemic Environment
Healthcare supply chain software monitors procurement and distribution data to track inventory and supply within healthcare systems. The healthcare supply chain software vendors in this study offer a range of solutions to providers, such as tracking workflow, monitoring suppliers for risk, and using compiled data to predict the future availability of supplies.
The shortage of necessary materials and medication during the COVID-19 pandemic has heavily impacted the healthcare supply chain software industry. Because of the spike in supplies and staff necessary to sustain service, many healthcare providers realize that they need a system to increase efficiency and track the inventory levels of their suppliers. The acceleration of necessary services has revealed gaps in the supply chain segment. With staff populations of healthcare providers decreasing, it has become difficult to manually track incoming supplies and medication. Specialized roles that monitor a facility’s supply chain are scarce. With this scarcity, healthcare providers are discovering that machine learning and AI technologies can deliver more accurate and timely data to respond to pandemic challenges. Fully automated systems create a sense of autonomy within the healthcare system and provide fewer opportunities for staff errors.
This study measures the US supply chain software market size based on vendor revenue and excludes estimated revenue from OEMs. This methodology minimizes inflation in market size estimates that might occur because of double counting. Reporting and estimates are for calendar years, not fiscal years. The study states prices and revenue in US dollars and only considers those pertaining to manufacturers. The study period is 2021-2026.
