MONTREAL, June 2, 2009—LifeScience Logistics, a high-growth logistics provider in the healthcare field, deploys TECSYS' EliteSeries for healthcare, enabling the Company to achieve 99.97% inventory accuracy and deliver the right product at the right price without sacrificing on quality on behalf of its customers.
LifeScience Logistics LLC is an up-and-coming third-party logistics services provider in the healthcare industry. The Company provides a full range of standard and specialized logistics services scalable to the changing needs of small to mid-size manufacturers in the pharmaceutical, biotech and med-surge fields. In addition to its domestic clients, LSL targets offshore pharmaceutical and biotech manufacturers with the need to outsource their logistics' operations, where LSL would act as their local representative and facilitate their imports, distribution and customer support across the United States.
Since 1992, the biotech industry has experienced explosive growth; according to the Biotech Industry Organization (BIO), revenues from U.S. publicly-traded companies increased from $8 billion in 1992 to close to $59 billion in 2006. With this evident growth, LSL's strategy was to deploy a "shared-utility infrastructure", a highly-secure virtual data center, providing regulatory-compliant logistics services that can be shared by a number of customers, regardless where they are globally.
To execute on its strategy, and following extensive research among several distribution management software companies, LSL opted for TECSYS' EliteSeries for healthcare SaaS (Software-as-a-Service) model.
"TECSYS' EliteSeries had already been validated; it was already deployed at McKesson, Cardinal Health as well as others, making it a proven product for healthcare. That was a big plus in our decision-making process," stated Richard Beeny, co-founder and Chief Executive Officer of Life Science Logistics.
With TECSYS' EliteSeries, the underlying IT infrastructure of LifeScience Logistics is a fully-redundant, remotely-hosted distribution application that includes Order Management, Warehouse Management, Transportation Management and Financial Management. The system supports an Order-to-Cash model and includes "charge back" and Accounts Receivables functionality both of which are critical in Healthcare. The system is validated according to cGMP (The FDA's "current Good Manufacturing Processes") requirements and allows customers to place orders and view inventory in real-time online, as well as check on inventory levels and reconcile outstanding credits or invoices.
"With TECSYS we have a reliable IT infrastructure that can be tapped anytime, from anywhere, securely. The system is always available; it is like "googling" into a supply chain network of applications, giving us and our healthcare customers the peace of mind and visibility of what is happening, where and when. Most importantly it is helping us achieve a high level of customer satisfaction," concluded Beeny.
For more information, read the LifeScience success story.
About LifeScience Logistics
LifeScience Logistics is an up-and-coming third-party logistics services provider in the healthcare industry. The Company provides a full range of standard and specialized logistics services scalable to the changing needs of its customers.
Through its cGMP compliant facilities, LSL enables its clients; small to mid-size manufacturers in the pharmaceutical, biotech and med-surg fields, to outsource the warehousing and distribution of frozen (-30c), refrigerated (2c-8c), and ambient (20c-25c) products as needed to meet their business objectives.
TECSYS is a leading supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include over 500 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high-volume distribution industries. TECSYS' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.