Inventory Optimization Brings Healthy Outlook To Harvard Drug
Harvard Drug distributes a deep catalog of brand and generic pharmaceuticals, over-the-counter medications and supplements to more than 15,000 wholesale and retail customers. As the company grew the manual processes for managing inventory needed an upgrade.
Despite tremendous growth in catalog products, Harvard Drugs’ buyers were still using Excel spreadsheets to manage inventory across the company’s four warehouses. Silos across the organization created additional inefficiencies.
Harvard Drug’s goal was to bring continuity across all channels of the business from a buying perspective. The company selected Manhattan’s Inventory Optimization solution to improve productivity throughout purchasing, and allow buyers to forecast and replenish more strategically.
Within one year, Harvard’s institutional division saw 6% growth from higher fill rates, and fill rates have improved by 430 base points year over year.