Grapevine, an online B2B marketplace for the healthcare industry, announced Monday its software platform will overhaul that industry’s supply chain operations.
The platform is set to deliver cost reductions and eliminate product shortages for providers, the company said. Utilizing a network of suppliers, the platform promises to streamline procurement processes by eliminating intermediaries and layers of transportation. The company estimates it will cut costs by up to 63 percent. Additionally, the company said it will give buyers access to a wider array of medical products suppliers, allowing buyers to switch to alternatives if one supplier faces a shortage.
“For too long, healthcare providers have struggled with inflated supply costs and frequent shortages that impact patient care,” LukA (CQ) Yancopoulos, CEO of Grapevine Technologies, said. “We’re proud to finally offer a 21st-century solution that will significantly lower expenses while ensuring reliable access to critical supplies.”
Officials with the company said the platform eliminates middleman distributors that may cushion healthcare supply chains. Its research shows that transportation and warehousing with distributors can increase costs by more than 60 percent on some products.
Using a “cloudhouse” system, the company said it can remove physical warehousing expenses while offering an expanding catalog of leading medical device and supply brands at significantly reduced costs. Its online catalog and marketplace model will directly connect buyers to manufacturers and importers. And, officials said, the purchases integrate into a free inventory management system that will eliminate the need for expensive EDI and API integration projects.