RISCS & Vizient announce pilot program to enhance pharma supply chain
Category: #health  By Pankaj Singh  Date: 2022-05-05
 | 
  • sharesocial_share_icon
  • Twitter
  • Facebook
  • LinkedIn

RISCS & Vizient announce pilot program to enhance pharma supply chain

RISCS Inc and Vizient Inc have reportedly announced a joint pilot program intended to enhance pharmaceutical supply chain resilience.

Once executed, the program would utilize a rating system to allow the assessment of important aspects of an adaptable supply chain and offer increased transparency.

During the trial, pharmacy suppliers will be needed to provide important information on their supply chains via the process of request-for-proposal.

The insights provided will allow visibility into supply chain factors like available production flexibility and production capacity, redundancy in raw material supply, inventory practices, geopolitical risks, and location differentiation.

Stephen Colvill, Executive Director of RISCS expressed that the company aims to help assure a viable supply of essential medicines. He added that Vizient has been an important member of the Advisory Panel, which contributed to the development of the RISC Rating System™.

It is worth mentioning that Vizient is America’s largest member-based healthcare performance enhancement company. The company’s diversified membership and consumer base comprise pediatric facilities, academic medical centers, integrated health delivery networks, community hospitals, and non-acute health care providers.

Mittal Sutaria, Senior Vice President, Pharmacy Contract and Program Solutions at Vizient cited that transparency across the healthcare supply chain is important to mitigate disruptions.

From raw material sourcing to finished product delivery, providers require that visibility to reduce possible supply disruptions that influence their capability to care for patients.

For the unversed, Vizient Inc serves over 50% of America’s acute care providers, which comprises 97% of the country’s academic medical centers, and over 20% of ambulatory care providers.

The company offers analytics, expertise, and advisory services along with a contract portfolio that represents an annual purchasing volume of USD 130 billion.

On the other hand, RISCS assesses the resilience of the pharmaceutical supply chain. It aims to avoid drug shortages by encouraging flexible pharma supply chain practices using the RISC Rating System™.

Source credit:

https://www.businesswire.com/news/home/20220504005119/en/Vizient-and-RISCS-Announce-Pilot-Program-to-Improve-Pharmaceutical-Supply-Chain-Resilience



About Author

Pankaj Singh

Email: [email protected]   linkdin twitter

Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

More News By Pankaj Singh

Rona Therapeutics obtains global rights to Sanofi's siRNA platform

Rona Therapeutics obtains global rights to Sanofi's siRNA platform

By Pankaj Singh

Rona Therapeutics Inc has reportedly acquired the global exclusive rights to the siRNA platform of delivery moiety and chemical modification from Sanofi S.A., in addition to four pre-clinical contenders for unrevealed ...

Toy maker Mattel inks multi-year agreement with Elon Musk’s SpaceX

Toy maker Mattel inks multi-year agreement with Elon Musk’s SpaceX

By Pankaj Singh

California-based toy manufacturing and entertainment company, Mattel, has recently signed a multi-year agreement with Elon Musk’s private spaceflight company, SpaceX.

T...

USHV partners with Willowbrook to provide quality cardiovascular care

USHV partners with Willowbrook to provide quality cardiovascular care

By Pankaj Singh

US Heart & Vascular (USHV) is reportedly partnering with Willowbrook Cardiovascular Associates to offer quality cardiovascular care in the Houston market.

USHV has a strong ma...