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Inventory Optimisation for the Life Sciences Sector

Life sciences sector companies are facing huge supply chain challenges with commercial, operational, and strict regulatory factors contributing to creating a unique production environment. These include the necessity to supply very high service levels, products tracking and tracing to avoid both errors and counterfeiting and therefore the got to suits regulations which may vary greatly between countries or states.

Therefore, the power to know and manage inventory is crucial to delivering to customers and containing costs. Inventory optimization can be actualised with the implementation of the warehouse technologies as discussed below.

Warehouse Management System (WMS)

WMS is designed to optimize warehouse operations and functions. These systems facilitate inventory management personnel in their daily planning, organizing, staffing, directing, and controlling the use of obtainable resources, to manoeuvre and store materials into, within, and out of a warehouse. The WMS receives orders from the overlying host system, mostly an Enterprise Resource Planning (ERP) system.

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Lim Wei Jian, DLSM
Lim Wei Jian has several years of experience in warehousing for a life sciences and biotechnology manufacturing company. He is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). Wei Jian completed the Diploma in Logistics and Supply Management (DLSM) on December 2020 at SIPMM Institute.

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