RiverBit successfully transformed PHOENIX Pharmaceutical Wholesale, Ltd. by implementing end-to-end supply chain solutions.
Addressing challenges such as frequent stockouts, high turnover rates of goods, manual ordering processes, and outdated legacy systems, our client recognized the need for automation and modernization. The project resulted in a significant reduction in stockouts, enhanced service levels across all warehouses, and a semi-automated ordering process. Our tailored solutions not only met but exceeded the unique needs of our client, establishing RiverBit as the trusted partner for their supply chain optimization journey.
About company
PHOENIX Pharmaceutical Wholesale, Ltd., has been a leader in the pharmaceutical distribution market in the Czech Republic for several years. Since 1994, it has been a part of the multinational PHOENIX group, one of the largest European companies specializing in the wholesale distribution of medicines.
Highlights of the implementation
Service Level Increase and Optimization across all Warehouses
Reduced Inventory Turnover Rate already during the pilot project
Advanced Planning/Forecasting Automated Workflows
Purchasing Managers Empowered by AI technology
“Cooperation with RiverBit helped us to significantly increase product availability and improve purchasing processes while decreasing inventory levels across the company.”
Martin Pytlík, Purchasing Director
Increasing the Customer Service Level
PHOENIX Czech Republic was facing frequent stockouts and item unavailability. Our supply chain software implementation has notably helped with that and we have achieved a notable increase in customer service level especially on regional warehouses. Real-time visibility into inventory levels, order statuses, and efficient order processing has enabled faster response times, ensuring timely deliveries and enhanced customer satisfaction. The system's responsiveness and accuracy contribute to a seamless experience for both purchasing managers and top management, solidifying our client's presence as a leader in pharmaceutical distribution.
Turnover Rate Reduction 20%
5 Warehouses managed from one place
PHOENIX experienced growth in terms of new items, and market volumes, managing and controlling operations became increasingly challenging across all levels, from inventory management to process execution. After the integration of our solution, we reduced the inventory turnover rate by 20% during the pilot project and we have also achieved comprehensive optimization of inventory and processes. From efficient warehouse management to smart redistribution between warehouses, our solution has enhanced operations, reducing costs and improving overall supply chain efficiency across 5 distribution centers.
Advanced Planning & Forecasting
In the complex landscape of pharmaceutical wholesale, advanced planning software has become a critical tool for optimizing operations and ensuring seamless supply chain and fully digitalized vendor management. The software leverages sophisticated algorithms, machine learning, and big data analytics to provide accurate demand forecasting, inventory management, and strategic planning capabilities. These data-driven decisions lead to better resource allocation, cost savings, and improved market responsiveness.
Purchasing Managers Empowered by AI technology
Before the integration of our solution, PHOENIX's purchasing managers faced significant challenges in their daily operations. They relied on outdated legacy systems and manual processes for placing orders, resulting in a slow, error-prone, and inefficient procurement workflow. More than 40 purchasing managers are now empowered by AI technology incorporated in the solution. The system offers the possibility of full automation for defined processes, while an exception-based workflow allows for swift and informed decision-making. This not only boosts operational efficiency but also allows the purchasing team to handle complex scenarios with ease, ultimately contributing to a more agile and responsive supply chain management.
