At nearly 10% of the total global GDP spend, healthcare remains one of the largest sectors of global economy. Healthcare supply chain has evolved into a complex system of interdependent stakeholders that are spread across the globe. Even as traditional track and trace solutions have developed, healthcare supply chain continues to struggle with a number of issues:
Tongadive seeks to tackle the above issues through a multidimensional approach on healthcare industry.
Adding to Tongadive’s comprehensive approach to healthcare supply chain is its focus on impactful sectors within the industry.
Medicines are the most frequent intervention of the healthcare system in people’s everyday lives. Recognizing the role played by pharmaceuticals in health and well being across the globe, Tongadive has chosen the Pharmaceutical sector as its primary and first focus area.
Tongadive’s product Evidnt, is built around pharma sector’s regulatory requirements, its unique challenges and the value that can be delivered through end to end visibility of pharma product journey. This has been strengthened by adding an AI backed analytics engine to enable demand forecasting. Work continues with full vigour on expanding the scope and reach of this product covering the entire supply chain within the pharma sector.
As Covid-19 has demonstrated, supply chain vulnerabilities in medical equipment and testing kits have a profound impact on the healthcare system of each country. Regulatory bodies across the globe have also been working to bring regulations that have so far been limited to the pharma sector.
Tongadive recognized early on the need to bring medical equipment and testing kits within the supply chain visibility remit. Recognizing the need and the market potential, Tongadive has been investing in developing its solution to cater to the visibility requirements of this vital healthcare sector.
Tongadive is actively working to expand its product reach and mandate from Healthcare sector to adjacent and important sectors like Agriculture Products and Food Processing.
In doing so, Tongadive is applying best practices, principles and learnings from the healthcare industry while understanding the uniqueness of supply chain in these focus industries. Provenance of origin, cost and evolving regulatory requirements will play a vital role in the development of specific technology around supply chain in these sectors.