Teva Pharmaceuticals to Attain End-to-End Supply Chain Visibility with Kinaxis
The global leader in generic and specialty medicines improving agility and flexibility
OTTAWA, Sept. 11, 2019 /CNW/ - Kinaxis® Inc. (TSX: KXS), the leader in empowering people to make confident supply chain decisions, today announced it has been selected by Teva Pharmaceuticals. Kinaxis will help Teva connect its data, processes and people into a single platform to transform its global supply chain, improve visibility and operational efficiencies and increase customer satisfaction.
Headquartered in Israel with operations in 60 countries worldwide, Teva has the largest and most competitive fully integrated manufacturing and supply chain network in the industry. The company employs more than 43,000 people worldwide and produces approximately 2,400 products in nearly every therapeutic area. In 2018, Teva produced more than 100 billion tablets and capsules and every day Teva touches the lives of approximately 200 million patients.
"Our goal is to improve lives and make better days for patients. With the world's largest medicine cabinet, Teva makes treatment more accessible and affordable for millions of people worldwide," said Dan Hoey, SVP Global Supply Chain for Teva Pharmaceuticals. "Being able to connect our entire supply chain, plan for multiple scenarios and understand the impact of potential changes in advance will help us deliver our products to customers and patients faster and more efficiently. The Kinaxis team's proven knowledge of supply chain, their understanding of pharmaceutical business requirements and the maturity of their platform are clear indicators that they can help us realize significant value across our manufacturing operations and supply chain."
Teva selected Kinaxis for its unique concurrent planning technique and advanced supply chain planning capabilities. With Kinaxis, Teva will gain greater visibility and control over its end-to-end supply chain network, collapse functional silos, increase collaboration, and more effectively balance inventory. Teva will benefit from capabilities such as integrated business planning, S&OP and advanced analytics for attribute-based planning, lot-for-lot management and product expiry monitoring.
"When dealing with the health of millions of people, it is vital for everyone in the supply chain to be connected and working from the same information. This ensures you have the confidence that you are making the right decision at the right time," said John Sicard, CEO of Kinaxis. "We are thrilled to have earned the trust of Teva, the leading generic pharmaceuticals company worldwide. We look forward to working with them to help reach their business objectives and improve the health of patients around the world."
Kinaxis offers a robust cloud-based and attribute-based planning solution to help pharmaceutical companies incorporate complex planning rules, like those driven by the FDA. Using Kinaxis and concurrent planning to synchronize their supply chain functions, companies can more effectively manage product on a lot-for-lot basis. With intelligent, customizable product expiry monitoring, supply chain teams will be alerted when action on inventory is required to maximize customer service and ensure expiry dates are not surpassed to minimize extra cost.
About Kinaxis Inc.
Eliminating volatility in your supply chain is impossible, but managing it is not. Trusted by top brands, Kinaxis® gives people the confidence to know they are making the best supply chain planning decisions to maximize business performance. We solve complex business problems in easy-to-understand ways by combining human and machine intelligence to plan for any future, monitor risks and opportunities and respond at the pace of change. With the support of our community of supply chain experts and using our unique concurrent planning technique and single integrated planning platform, customers can realize higher revenue, lower costs and fewer risks. For more Kinaxis news, follow us on LinkedIn, Twitter or Facebook.
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements as to Kinaxis' growth opportunities and the potential benefits of, and demand for, Kinaxis' products and services. These statements are subject to certain assumptions, risks and uncertainties, including our view of the relative position of Kinaxis' products and services compared to competitive offerings in the industry. Readers are cautioned not to place undue reliance on such statements. Kinaxis' actual results, performance, achievements and developments may differ materially from the results, performance, achievements or developments expressed or implied by such statements. Risk factors that may cause the actual results, performance, achievements or developments of Kinaxis to differ materially from the results, performance, achievements or developments expressed or implied by such statements can be found in the public documents filed by Kinaxis with Canadian securities regulatory authorities. Kinaxis assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
SOURCE Kinaxis Inc.