March 6, 2018
SANTA CLARA, Calif., March 06, 2018 (GLOBE NEWSWIRE) -- Seeloz Inc. today announced it has signed an original equipment manufacturer (OEM) partnership with SAP (NYSE:SAP). Through this partnership, Seeloz will leverage the power of SAP HANA and scalability offered by the SAP Cloud Platform in accelerating the growth of its Operational Optimization System (SCAS). Leveraging SAP HANA and offered in the form of tailored Software-as-a-Service (SaaS) point solutions running on the SAP Cloud Platform, the Seeloz SCAS will complement the power of Artificial Intelligence (AI) and Deep Learning with the scale of SAP HANA and SAP Cloud Platform to tangibly assist hospitals, retailers, food distributors, and distributors of pharmaceutical and medical supply in minimizing supply chain waste.
“Around 30% of worldwide production from food, medicine and medical supply goes to waste every year. Pharmaceutical waste approaches 100 billion dollars annually in the US alone. Seeloz leverages AI and Automation to minimize this waste. Today’s announcement marks an important milestone for Seeloz towards achieving its mission.“ said Dr. Mohamed Aly, Founder & CEO, Seeloz Inc. “Hospitals can now fully depend on the scalable SCAS, leveraging SAP HANA, to autonomously drive all supply procurement workflows based on accurately forecasted patient needs. We’re confident that collaborating with a giant in the enterprise software world such as SAP will boost our ability to mature the SCAS and allow us to seamlessly embed it in the daily procurement workflows across the different targeted customers.”
In both the healthcare and food industries, billions are lost annually due to waste caused by supply chain inefficiencies. Waste comes down to four primary challenge areas: supply expirations, overstock, stock-outs, and cross-warehouse movements. These challenges can be traced to a primary root cause; procurement workflows typically run through Enterprise Resource Planning (ERP) systems not being driven by end customer needs, e.g., forecasted patient needs in a hospital that are typically derived from Electronic Medical Record systems (EMRs). Equipped with the power of Artificial Intelligence, the Seeloz SCAS bridges the disconnect between ERPs and EMRs through a layer of smartness autonomously running procurement workflows with the goals of optimizing supply availability and minimizing waste.
Seeloz offers tailored versions of SCAS to optimize operations for each of the players along the food and healthcare value chains, including providers (i.e., hospitals and retailers), distributors, and manufacturers. Since its launch in Q1 2017, the SCAS tangibly demonstrated an ability to minimize supply waste, and particularly expirations, by 50%-80% for hospitals, food distributors and pharmaceutical distributors. Through this efficiency boost, early adopters of the SCAS were capable of reducing overall supply costs by 5%-20%.
The initial focus of the partnership will be to offer the SCAS, leveraging SAP HANA and running on the SAP Cloud Platform, to hospitals and Integrated Delivery Networks (IDNs) in the US and in selected International markets. Given that the SCAS is agnostic from the underlying software systems already run by customers (e.g., ERPs and EMRs), the collaborative go-to-market approach is intended to enable a wide range of IDNs and hospitals to tap into the power of the SCAS to achieve tangible and immediate supply cost reductions.
Based at the heart of the Silicon Valley, Seeloz is an emerging leader in the Vertical-Specific AI-Driven (aka, Vertical AI) software space, aiming at becoming one of the main catalysts of AI-driven Automation across the industry. Driven by its mission to save the world through AI, Seeloz focuses on minimizing waste across the healthcare and food value chains.
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