Jump Technologies, Inc. Signs Agreement with the Illucient Purchasing Alliance
Eagan, MN – September 9, 2015 – Jump Technologies, Inc., an innovative software company with solutions that improve supply management in hospitals, announced it has signed an agreement to make JumpStock™ inventory management and InnerTrack™ receiving & package tracking solutions available to members of the Illucient Purchasing Alliance, LLC.
JumpTech cloud-based mobile solutions for hospitals and health systems are designed improve visibility and management of supplies from dock-to-destination. JumpTech solutions are fast and easy to implement, integrate with current materials management and ERP systems, and leverage non-proprietary smart devices that can be used for multiple functions. With JumpTech, hospitals benefit from elimination of hardware costs, lower start-up and ongoing costs, reduced staff training time and rapid adoption.
JumpStock™ inventory management affordably provides better visibility to supplies throughout a healthcare system. While eliminating stock-outs, reducing overstocking and over-spending, JumpStock enables easy and automated recording of all supply transactions. JumpStock helps ensure accurate reporting of supply velocity and drives informed stock-level decisions, which can lead to better supply planning and management. Additionally, JumpStock has been shown to greatly increase nursing satisfaction with stocking processes. At a medical center in Pennsylvania, nursing satisfaction grew from 10 percent satisfied with the previous supply management system to 92 percent with JumpStock.
InnerTrack™ receiving and package tracking provides automation and smart workflow to a healthcare organization’s receiving process, significantly reducing staff time and improving visibility and documentation. With InnerTrack, a simple user interface on a smart device begins capturing data as packages are loaded off delivery trucks, and provides tracking of the entire transaction to final delivery. Currently in use at a major New York hospital, InnerTrack has shown to significantly improve the key metric of number of packages processed per person on the receiving dock. With InnerTrack, productivity improved by 123 percent, with one study showing productivity increased by 170 percent.
Additionally, InnerTrack reduces the time spent researching information about incoming shipments for internal customers, including doctors, nurses and supply chain technicians. Without InnerTrack, hours were spent each week locating supplies that had been received but not delivered. InnerTrack creates visibility to the entire end-to-end, dock-to-destination process. For an overview video of InnerTrack click here.
“Illucient Purchasing Alliance was created with the goal of enabling members to pursue cost reduction opportunities while supporting quality”, explained Derrick Billups, Executive Director of Illucient. “Our partnership with Jump Technologies can help Illucient members achieve those goals.”
Illucient Purchasing Alliance members now have access to JumpTech’s cloud-based inventory management and receiving & package tracking solutions at preferred pricing to:
- Reduce stock-outs
- Eliminate hoarding and in turn, reduce inventory by up to 20%
- Eliminate maverick spending, which adds an average of 7% to the cost of inventory
- Eliminate waste due to overstocked products that expire
- Reduce overtime expenses by cutting labor associated with managing inventory
- Create actionable reports that provide key data points and recommendations on supply levels, resulting in lower inventory carrying costs
- Ensure compliance with the inventory process by supporting workflows leveraging PAR, 2Bin™, cycle counting, or limited access systems
- Increase nursing satisfaction by reducing time spent recording inventory transactions, increasing time with patients
- Reduce overnight shipments, by maintaining appropriate inventory levels
- Reduce manual labor spent processing incoming shipments
- Create dock-to-destination electronic records of all supplies
“We’re thrilled to be part of the Illucient Purchasing Alliance. Provider organizations are working hard to transform their business processes and reduce costs,” said John Freund, CEO, Jump Technologies, Inc. “With healthcare costs accelerating, hospitals and healthcare systems can look for technology to drive new efficiencies. But those technologies need to reduce – not add – costs. By moving inventory and supply management into the cloud, hospitals can gain functionality beyond the reach of current ERP systems, and make great improvements in automation without spending on hardware and software upgrades.”