Hospitals can apply to the exchange now at no cost to locate and trade critical supplies
Resilinc, the leading provider of AI-based supply chain mapping and disruption monitoring services, and Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company, today announced the rollout of The Exchange at Resilinc. The Exchange is a cloud-based platform for the healthcare industry where hospitals interact with vetted peer organizations to identify, locate, and exchange critical medical items during the COVID-19 outbreak.
The exchange platform, in collaboration with Stanford Medicine, will launch in mid-April and is now accepting applications for providers and industry groups to join at no cost.
Through the Exchange – which is agnostic to any group purchasing organization – hospitals and frontline healthcare providers experiencing supply shortages can submit requests for specific items and be matched with peer organizations who can supply those items through a safe, secure, and trusted network. Donations of critical supplies are also welcome and will be disbursed through an integrated donation center.
“Resilinc is proud to collaborate with Premier and Stanford Medicine to bring the Exchange from concept to reality, leveraging our experience in helping our customers protect their supply chains from disruptions,” said Bindiya Vakil, CEO, and founder of Resilinc. “Many hospitals searching for items that are on allocation by suppliers must manually locate other hospitals who have inventory. This can be time-consuming, less successful, and has a narrow geographic reach. The Exchange at Resilinc is a modern, cloud-based tool that can expedite communications between hospitals and help them instantly locate and negotiate for medical supplies among thousands of hospitals nationwide.”
“With COVID-19, we are experiencing an unforeseen and unprecedented level of stress on caregivers and supply chains,” said Chaun Powell, group vice president of strategic supplier engagement at Premier, which unites an alliance of more than 4,000 hospitals and health systems and 175,000 other providers. “With more than 9,300 items on allocation across the country, Premier continues to advocate for industry-wide collaboration that increases transparency into the supply chain, so we can accelerate problem-solving at scale and get supplies to providers with the greatest need. Premier is proud to help found this exchange and cut across traditional boundaries for the benefit of all.”
Amanda Chawla, vice president of supply chain at Stanford Health Care, Stanford Children’s Health, and Stanford Health Care – ValleyCare envisioned a tool that would allow healthcare professionals to connect with their peers during the COVID-19 pandemic and place critical medical supplies where they are needed most. “Together with Resilinc, we have created a platform that goes beyond traditional networks and boundaries to allow us to connect and support not only our local community but the greater community, in the fight against COVID-19,” Chawla said.
Shortages occur across critical product categories for a myriad of reasons including the location of raw materials and manufacturing, demand planning, industry protocols and regulation, sterilization, and policies. The COVID-19 pandemic is an especially relevant example of how a domestic exchange between providers and trusted partners can help enable access to products that are in short supply.
Providers can apply to join The Exchange in under 10 minutes at https://theexchangeres.wpengine.com/healthcare/apply/, and each provider can list items it needs and offer those it can spare in exchange. Healthcare organizations, nonprofits, and other businesses are encouraged to apply if they would like to donate much-needed supplies.
Resilinc is the leading provider of AI-based supply chain data monitoring, mitigation and risk analytics solutions and is headquartered in Silicon Valley with more than 150 employees. Resilinc tracks disruptions in the supply chain for millions of parts and hundreds of thousands of suppliers. Over 100 of the world’s leading brands rely on Resilinc’s AI-powered monitoring service to keep track of millions of parts as they make their way around the globe. Resilinc maps the supply chain multiple tiers deep, all the way down to part, supplier, and site levels, and exposes hidden failure points and bottlenecks deep in sub-tier suppliers. Companies use Resilinc’s cognitive sourcing and risk protection learning systems to realize millions of dollars in savings on expediting raw materials or freight and lowering inventory levels while keeping their supply chain operating with greater agility and resiliency. Visit us at https://www.resilinc.com.