AI-POWERED Inventory management
World's 1st AI-powered hospital supply chain management
MedikaCloud.ai addresses the challenges hospitals, clinics, and suppliers face with procurement, forecasting, and stock visibility. Issues like delayed orders, vendor mismanagement, stockouts, and financial discrepancies lead to revenue loss and operational chaos.
This AI-powered solution streamlines procurement, automates vendor management, and optimizes inventory tracking. By reducing manual processes and enhancing visibility, MedikaCloud cuts costs by 40%, boosts revenue by 30%, and ensures smooth, data-driven operations.
Timeline
6 months (Jan 24 - Aug 24)
Background
Medikabazaar, a leading global health-tech company, backed by marquee investores ($200 mn) aimed to revolutionise supply chain management processes by introducing the world's first AI-powered inventory management software calling it MedikaCloud.ai
Formative Study
Conducted formative interviews with with 10+ hospitals globally & 5 different large medical suppliers to identify the core issues leading to workflow disruptions leading to revenue slippage. Learn More
Problems Identified
Procurement Issues: Improper forecasting, delayed orders, vendor mismanagement, and poor visibility into account payables disrupt operations and financial planning.
Revenue Loss: Stockouts, incorrect stock visibility, invoicing errors, and broken communication result in missed revenues and financial inefficiencies.
Stocking Chaos: Overstocking, hoarded dead stock, costly emergency procurement, and errors in inwarding/outwarding lead to higher operational costs.
Wireframing + Prototyping
Started with the building blocks of the dashboard - choosing web app as viable medium to wireframe in Miro followed by high fidelity mockups in Figma including the landing wesbite.
Development & Implementation
High quality design deliverables along with detailed design system to support the agile development of the application - cross collaboration with distributed teams in mumbai, bangalore & dubai. Prioritized feature development based on user feedback and technical feasibility with high focus on Forecasting UI
Testing & Optimization
Usability Testing the tool with 5 different Hospitals in Dubai & India to validate the assumptions.
A web platform for Doctors, Admins & Procurement Executives to input inventory consumption and get real time inventory insights including AI forecast of upcoming requirement
Inventory Tracker
Keep a track of your account receivables with Integrated Communication flow within internal teams and vendors,
Inventory Management
Seamless integration with popular calendar platforms such as Google Calendar and Outlook, ensuring synchronized scheduling across devices.
AI Forecasting
Customizable settings allow users to tailor scheduling preferences and priorities to their unique needs.
Highlighting the challenges we faced to create a zero-to-one expereince for clinics & hospitals
Decision maker vs user
In majority of the cases we found out that typically a doctor/administrator is looking for insights that will be generated in time by the frequent use of the product from the procurement staff. Generated multiple views for one size doesn't fit all scenarios.
Unstructured Data
Created a demo mode to solve the chicken egg problem of data versus insights. Enabled faster data gathering by MS Excel like data entry cell interactions to enable smoother migration
Technology Adoption
Generally observed a lag in technology adoption by healthcare professionals and created outcome driven use cases laid out for quick and easy task management (eg: alerts)
Here, the outcomes and achievements of the project are highlighted, including user feedback, adoption rates, and industry recognition.
Increased Efficiency
Upto 40% boost in tracking & management. Users report significant time savings and improved productivity through optimised inventory alerts.
Additional Revenue
Upto 30% additional revenue. One of the suppliers identified $35K of critical stock that was near to expiry in a week which was a big win for the product.
Accurate Forecasting
Upto 99% accurate forecasting with structured data with an incubation time of 1 month
GTM
97 Hospitals ( ~ 35 in Dubai) are using Medikacloud to track, manage & forecast their inventory & growing. Total 1000+ users onboarded in 3 mos.
Collaborated with Marketing Teams to fuel GTM strategies (organic & paid) to fuel distribution
Client Feedback 💡
"Deeply impressed by advanced analytics, All metrics needed for effective inventory management are on tips now"
-CMO, Leading Aesthetic Clinic in Dubai
"From zero processes, MedikaCloud navigated team to adopt right practices to manage inventory. Now, lean inventory is maintained"
-Sr. Doctor, Leading Dental Clinic in Dubai
"MedikaCloud saved 130k AED within a week post completing integration. Can access Savings Potential in flash seconds now"
-CEO, Leading Supplier of Medical goods in Dubai
"Inventory was managed offline before, Now MedikaCloud has made all purchases process driven"
-Admin, Multi Specialty Aesthetic clinic in Dubai
