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Neuraxpharm Innovates Supply Chain with TraceLink MINT

Neuraxpharm, a prominent European specialty pharmaceutical company, has taken a significant step forward in improving its supply chain operations by launching the TraceLink Multienterprise Information Network Tower (MINT). This initiative aims to facilitate real-time data exchanges across its global network, transforming the way the company operates within a complex landscape of partners and stakeholders.

The Challenge: Fragmented Systems

Neuraxpharm faced significant challenges in managing its supply chain transactions due to a fragmented system of multiple partners utilizing different ERP systems and communication tools. As the company navigated the complexities involved in coordinating logistics, production, and procurement activities for over 3,000 Stock Keeping Units (SKUs) across more than 100 markets, inefficiencies became apparent. Manual processes hindered the timely exchange of essential information, such as purchase orders and delivery confirmations, often relying on emails, spreadsheets, and phone calls. This led to delays, increased warehouse costs, and gaps in operational visibility.

Embracing MINT for Change

With the implementation of MINT, Neuraxpharm has streamlined its partner ecosystem into a unified network-based architecture. This digital transformation allows critical data—such as forecasts, purchase orders, and confirmations—to flow seamlessly between different ERP systems in real time. By ensuring that all stakeholders operate from the same source of information, Neuraxpharm has significantly reduced turnaround times for internal demand forecasts. Previously reliant on manual processes, these forecasts are now automatically transmitted to the Contract Manufacturers’ ERP systems within minutes of approval. This improvement minimizes the risk of discrepancies and enhances overall performance.

Burghard Burczyk, Neuraxpharm's Chief Technology Officer, emphasized the importance of reducing manual procedures, stating, “Product availability and reliable patient supply are our top priorities, and the reliance on manual processes was slowing our ability to act on real-time information.” The data standardization brought by TraceLink's MINT not only facilitates a smoother exchange of information but also grants Neuraxpharm teams comprehensive visibility across their operations, enhancing service quality and patient outcomes.

Simplified Partner Onboarding

A major advantage of TraceLink's approach is the B2N Integrate-Once™ model, which allows partners to connect to TraceLink's network just once, instead of requiring multiple integrations. This significantly reduces the burden on IT resources and ensures that partners can easily share data and communicate efficiently without the complexities commonly associated with integration. Burczyk cited that once linked to the network, partners can communicate not just with Neuraxpharm but with over 291,000 authenticated partners globally, creating a value proposition that extends across the entire ecosystem.

Towards AI-Driven Decision Making

Neuraxpharm is not stopping at mere digitalization; MINT is seen as a cornerstone for future AI-driven initiatives. Linking all partners on a single network allows the company to create a consistent, real-time data layer essential for effective machine learning and AI implementation. Burczyk noted, “The standardized and validated data exchanged through MINT supports our AI initiatives for forecast accuracy and data analysis.” This objective demonstrates Neuraxpharm's forward-thinking strategy, aimed at leveraging technology to enhance forecasting accuracy and streamline decision-making processes.

Shabbir Dahod, President and CEO of TraceLink, highlighted the significance of such advancements in supply chain operations. He stated, “Organizations like Neuraxpharm demonstrate what the future of the supply chain looks like—integrated, collaborative, and guided by real-time data and intelligence.” The company’s investment in building a strong digital foundation will ultimately not only reach its operational goals but also enhance the patient experience by ensuring timely access to necessary medications.

Conclusion

As Neuraxpharm moves to embrace this innovative supply chain model, it sets a precedent for the pharmaceutical industry. The successful launch of TraceLink MINT and its comprehensive approach to data exchange indicates a bright future not only for the company but also for its partners, who will now have the ability to benefit from real-time insights that enhance overall efficiency and patient outcomes.

For more information on Neuraxpharm and their approach to digital transformation, visit their website at Neuraxpharm.com.