Technology in Supply Chain Management at Cvs - 2184 Words

Technology in Supply Chain Management at CVS Strategic Supply Chain Management OSC300 University of Phoenix Technology in Supply Chain Management at CVS With more than 40 years of dynamic growth in the retail pharmacy industry, CVS (NYSE:CVS), a $22 billion company, is the nations largest pharmacy retailer with over 6,200 stores in 38 states. CVS/pharmacy fills one of every eight retail prescriptions in America. Furthermore, their ExtraCare program boasts over 50 million cardholders, making it the largest and most successful retail loyalty program in the country. Both through acquisitions of other chains, and internal development, CVS has exploded in store count to become the nation s largest drug chain, supported by nine†¦show more content†¦CVS, went live with JDA Software Group s Portfolio E3 private exchange solution following an implementation that lasted less than seven weeks, and the pharmacy has already begun collaborating with one of its largest suppliers in the health care industry. CVS expects to aggressively expand the CPFR program with other strategic suppliers. The CPFR program is instrumental to CVS corporat e mission to provide superior customer service as well as to deliver significant benefit to its suppliers, according to Leo Hartnett, vice president of efficient customer response at CVS. JDA s collaborative framework helps provide simplicity, security, accessibility and a proven methodology. As a result CVS has been able to rapidly adopt the principles of CPFR to achieve the supply chain benefits expected in a collaboration environment, assisted by a new data-driven inventory management system called AIM (Assisted Inventory Management). By strategically extending the collaborative opportunity to the right partners, CVS and its suppliers will achieve a [return on investment] that delivers unmistakable competitive advantages, JDA s Fred Baumann, senior director collaborative business solutions and member of the Voluntary Inter-industry Commerce Standards (VICS) Committee s CPFR advisory board.(Supply Demand Chain Executive Editorial Staff, 2005) As senior vice president of Supply Chain andShow MoreRelatedThe Stock Price Of Cvs1359 Words   |  6 PagesThe stock price of CVS increased from $50.53 per share in year 2013 to $96.89 per share in year 2016. The upward trend in the stock price is showing evidence that top management creates shareholder value. Backing this up with the PEG ratio, which is the Price/Earnings ratio adjusted for future growth estimation. Investors are always looking for companies with good growth prospects selling at attractive prices. Read more: http://www.nasdaq.com/symbol/cvs/peg-ratio#ixzz40duIHLPJ Financial RatioRead MoreErp System in Cvs2342 Words   |  10 PagesSystem in CVS Pharmacy ERP (Enterprise Resource Planning) software system aims in integrating the vital functions of an enterprise leading to a better communication and flow of data through the different units of an enterprise, regardless of their geographical locations. A standard ERP system constitutes of a software component, hardware infrastructure and a process documentation component. An ERP package integrates several functions like production, finance and accounts, supply chain management, assetRead MoreDesign Of Goods And Services1549 Words   |  7 Pagesthe bottleneck so that the bottleneck only process good parts. 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The purpose of this paper is to demonstrate an understanding of the supply chain and itsRead MoreThe Market For Reproductive Management Products1900 Words   |  8 Pagesâ€Å"Industry and Customer Value According to MedTech, (2015) the U.S. market for reproductive management products was estimated at more than $3.7 billion in 2013. This market, which includes a broad range of contraceptive drugs, contraceptive devices/implants, and fertility drugs, is expected to expand at a healthy compound annual growth rate of more than 7%, increasing by more than $1.5 billion over a span of 5 years. A recent report released by Grand View research stated that healthcare providerRead MoreInternational Business Environments Operations by Daniels Summary of Chapter 22262 Words   |  10 PagesResource Management Practices in KSRM Steel Plant Limited. Md. Sazzad Bin Rashid Roll no: 296, 11th batch(9th) 2nd Semister, EMBA for Engineers,USTC. 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Part B: List the organizationsRead More A Strategic Analysis of Walgreens and the Retail Drugstore Industry 17582 Words   |  71 Pagesamong grocery, discount and mass merchandising chains, blurring of channels has occurred. This is due to stores selling an increasing variety of goods to try to broaden their customer base and provide â€Å"one-stop† shopping. Many of these stores have added pharmacies as a source of convenience for their customers, and to increase store traffic, usually positioning the pharmacy in the back of the store. In response to this pressure, both independent and chain drugstores have greatly increased the varietyRead MorePharmacy Improvement Services at Cvs4539 Words   |  19 PagesThe Service Process at (CVS) The process consisted of five basic steps (refer to Figure 1), the first being the drop off. A customer would drop off a script and write the requested pickup time on the script itself, then put it in a box that was divided into a number of slots. These slots were assigned to a specific time period and the tech would put the script into the slot corresponding to the hour before the desired pickup time. The busiest times at the drop- off were before work, lunchtime, andRead MoreWalgreens Strategic Plan2513 Words   |  11 Pagesclinics and monitors the effectiveness of in-store displays to improve customer’s shopping experiences. 12 million people visit its website monthly 15. Example of Walgreens Website Capabilities Walgreens is the nation’s largest drugstore chain and 70% of the population lives within 5 miles of a store. As illustrated below, Walgreens saturates many neighborhoods throughout the country with its stores. The company is making the Walgreens experience the most convenient option for most people