Risk mitigation drive for a leading healthcare company

Home Risk mitigation drive for a leading healthcare company

Client Background

The client is one of the leading Saudi Arabian company involved in the distribution of pharmaceuticals, medical and laboratory equipment, diagnostics, medical disposables, hospital and consumer supplies with 9 cold chain warehouses spread across KSA

Business Problem

  • The client suffered from a cold chain failure incident posing huge risk to high cost inventory in one of the established warehouses. Post the incident, client requested Acuvon to conduct cold chain diagnostic for all its warehouses
  • The client required support in developing strategic initiatives to mitigate the identified risks during the diagnostic exercise

Solution Overview

  • Using its proprietary framework, key risks were identified w.r.t. people, process and systems
    • A root cause framework was designed in order to list out the key areas that would result in the failure of cold storage
    • Based on the root analysis framework, a comprehensive toolkit was developed which consisted of an assortment of questions to gauge critical gaps in the cold value chain
    • During interviews, key gaps were identified and validated based on the on-ground inspection and data shared by the client
    • Each identified gap was assigned severity/ criticality based on two key parameters: Financial impact and operational impact
  • Key initiatives carried out as part of the risk mitigation drive:
    • Developed SOPs for end-to-end supply chain processes along with formulation of department-level KPIs cascaded down to position level
    • Employing color coding in warehouse operations along with the development of maintenance tool for monitoring equipment performance
    • Creation of JDs for key positions

Business Impact

100%

Segregation of responsibilities and authority levels for all key business activities mapped to individual position level

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Mitigated all risks associated with material handling and storage