MIDAS (Multi Industry Data Anomaly Solution) is a complete data management suite used by Owens & Minor, a fortune 250 healthcare supply chain company for its Spend Data management.
O&M provides medical consumables to a large chain of hospitals across the US. It also provides Spend Analytics to its customers. The US Hospitals lose millions of dollars on the material purchases which happens mainly due to lack of visibility in their spend patterns. Data anomalies which include duplication in master data sets, incomplete data, improper data and inappropriate data regarding the materials leads to the purchase of materials which are already available in the stock. There is no proper system in place to track the actual amount of materials available.
Bodhtree's MIDAS has complex algorithms in place to eliminate data anomalies in the Master data sets. As a result, the purchase department will be able to estimate the actual amount of inventory available. MIDAS has advanced spend data analysis capabilities which analyses the data, does a price parity analysis and suggests the most economical vendors for the items. This gave O&M a huge advantage to grow in the healthcare supply chain market in the US.
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