Helping a Diagnostic Lab Cut Inventory Costs by 35% with Real-Time Data
Lab Metrics (BI-as-a-Service)
The Challenge
A diagnostic lab was flying blind when it came to their inventory. Their LIMS and their operational systems weren't connected, which meant they had no real-time visibility into what supplies they had on hand and what they needed to order. This led to a lot of guesswork, which resulted in over-ordering and high carrying costs.
They were sitting on a lot of expensive inventory that they didn't need, which was tying up cash that could have been used for other things. They needed a way to connect their systems and get a real-time handle on their inventory.
Pain Points
High inventory carrying costs
No real-time visibility into inventory levels
LIMS and operational systems were disconnected
Inefficient, manual inventory management
Risk of stockouts or over-ordering
How We Helped
We used our Lab Metrics (BI-as-a-Service) to integrate their LIMS with their operational systems and build a predictive analytics model that could forecast their inventory needs.
Real-Time LIMS Integration
We built a custom integration that pulled real-time data from their LIMS into a central data warehouse, giving them an up-to-the-minute view of their test volumes.
Predictive Inventory Analytics
We used this real-time data to build a predictive model that could accurately forecast their inventory needs based on historical trends and upcoming test schedules.
Inventory Management Dashboard
We created a simple dashboard that showed them exactly what they had on hand, what was on order, and what they needed to order next, all in one place.
Measurable Impact
The new integrated system gave them the visibility they needed to get their inventory under control.
Better Financials
Reducing their inventory carrying costs by 35% freed up a significant amount of cash that they could reinvest in other areas of the business.
Smoother Operations
With a real-time view of their inventory, they were able to avoid stockouts and last-minute rush orders, which made their whole operation run more smoothly.
A Stronger Position
The ability to manage their inventory so efficiently gave them a real cost advantage and made their business more resilient.
Additional Key Outcomes
Real-time integration between their LIMS and operational systems
Accurate, data-driven inventory forecasting
A significant reduction in waste and over-ordering
Improved cash flow and financial performance
Strategic Value
This project was about turning a major cost center into a strategic advantage. By giving them real-time visibility and predictive insights, we helped them run a leaner, more efficient operation. They're not just saving money on inventory; they're running a smarter, more data-driven business.
Think We Could Help Your Lab?
If you're struggling with inventory management or a lack of real-time data, we'd be happy to chat. See how our Lab Metrics (BI-as-a-Service) can give you the visibility you need to run a more efficient lab.
Get a real-time view of your inventory
Reduce carrying costs and avoid stockouts
Make data-driven purchasing decisions
Integrate your LIMS with your operational systems