Jersey City, United States – ElectrifAi, a global provider in machine learning (ML) and artificial intelligence (AI) solutions, has collaborated with Vizzia Technologies, a provider of real-time location systems (RTLS) for healthcare organisations, to deliver ML-powered inventory optimisation for advanced asset management predictive analytics.
This collaboration aims to reduce costs, streamline processes, and enhance patient care at hospitals by analysing critical medical equipment utilisation levels.
A pilot was conducted at one of Vizzia’s customer sites. The pilot yielded substantial operational improvements across several inventory KPIs to include: up to a 52% improvement in key out-of-stock metrics; and reducing overstock rates by up to 20%.
Edward Scott, ElectrifAi’s CEO, says “We are very pleased to partner with Vizzia and contribute to their mission of transforming healthcare asset management. Our ML-powered inventory optimisation solution provides an advanced approach to equipment utilisation, which helps hospitals to reduce costs and improve patient care.”
The ElectrifAi inventory optimisation solution leverages IoT input data, time-series analysis, and category-specific trend analysis to generate accurate PAR level predictions, preventing overstocking or understocking.
“Our collaboration with ElectrifAi has significantly enhanced our ability to deliver cutting-edge inventory management efficiencies to our clients,” says Andrew Halasz, CEO of Vizzia Technologies. “We greatly appreciate the deep AI and ML insights that the ElectrifAi team of data scientists provided to our InVIEW platform.”
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