Oracle says software upgrades help healthcare companies build more resilient supply chains

Enterprise software vendor Oracle Corp. today launched upgrades to its “Oracle Fusion Cloud Applications Suite” that it says will help healthcare sector companies to build more resilient supply chains, increase financial visibility, and improve patient care.

The features are a response to “massive strain” inflicted on the healthcare industry by unpredictable demand and high administrative costs, pushing organizations to navigate resource and supply shortages and adapt to changing financial requirements of patient care, Oracle said.

“As the healthcare landscape puts an increased emphasis on proactive patient care, increased integration and collaboration across the entire ecosystem is critical to making healthcare more efficient, accessible, and equitable,” Steve Miranda, executive vice president of applications development, Oracle, said in a release. “The new capabilities added to Oracle Fusion Applications Suite will help healthcare organizations adopt new business models, embrace rapid innovation, build agile and sustainable supply chains, and better serve patients’ needs—now and in the future.”

The specific changes will occur in three Oracle Fusion Cloud products, including Supply Chain & Manufacturing (SCM), Enterprise Resource Planning (ERP), and Enterprise Performance Management (EPM).

According to Oracle, new healthcare-specific capabilities include: 

• Financial Consolidation and Reporting: Helps healthcare organizations retain ongoing visibility and control over financial performance in an environment with a complex mix of medical products and services across numerous locations and business units. 
• Procurement: Helps healthcare organizations reduce the cost of medical supplies and improve order efficiency.
• Replenishment Planning and Recall Management: Help healthcare organizations improve availability of medical supplies to get ahead of surges in demand.