At HDA’s annual Distribution Management conference (Austin, TX; March 4-7), the association awarded Smith Drug, Div. J. M. Smith Corp., its annual Distribution Management Award, for innovative technology collaboration with measurable results. Smith worked withP4 Technologies to implement an inventory management system (IMS) that optimizes inventory through forecasting and replenishment algorithms. The IMS enabled Smith to reduce inventory by 30% and to improve inventory turns by 47%.
“As an organization that prides itself on providing unparalleled customer service, we are thrilled to be recognized by HDA for our hard work,” said Saul Factor, RPh, president, Smith Drug Co. and Burlington Drug Co. “Partnering with P4 Technologies has not only transformed our operations but also has allowed our company to provide high service levels for our customers.”
rfXcel, a supply chain and traceability IT provider, was noted as a merit finalist, for a real-time environmental monitoring system, piloted in March-May 2017 with Verizon, and a pharma manufacturer. The system enabled domestic and international shipments to be tracked with GPS and temperature data, allowing participants to effectively manage product movements and intervene as necessary. rfXcel estimates that each avoided incident represents savings of $300,000.
The 2018 Distribution Management Award for Industry Leadership was won by Dianne Pfahl, VP, Strategic Sourcing National Brands, Cardinal Health. The award honor outstanding contributions to the healthcare distribution industry. Pfahl, an 18-year Cardinal veteran, is a current member of the HDA Industry Relations Council, and has served on the Alliance’s Front-End Forum and Women’s Executive advisory