TraceLink to launch AI solution for predicting drug shortages

TraceLink’s Product Availability Intelligence will enable stakeholders to predict drug shortages months in advance  

Its Product Availability Intelligence solution will use data harnessed from multi-enterprise applications running on TraceLink’s Opus digital network platform, the company’s “low code/no code” development environment designed to connect people and processes across the value chain.  

Machine learning enables the generation of near real-time, network-wide insights and for 30 billion serialized medicines to be tracked across TraceLink’s network of 287,000 healthcare and life sciences members. 

TraceLink will invite a subset of existing customers to participate in an exclusive Product Availability Intelligence launch program in May, 2022, where they will gain early access and have a say in near-term product roadmap decisions. The company has not yet announced a date for wider release. 

News of the product offering was welcomed by industry stakeholders, with Mayo Clinic Division Chair Eric Tichy noting an increase in drug shortages over the past two years.  

“Acquiring an early warning signal for drug shortages is a critical capability required to conserve supplies and find suitable, alternative therapies for our patients at Mayo Clinic,” he said.  

Novant Health VP of Pharmacy Joe Maki described the 90-day warning period as “an absolute game changer in ensuring patient access to essential medicines”.  

Product Availability Intelligence is the first realisation of the TraceLink’s Opus Collective Intelligence offering, which will enable companies to predict supply chain disruptions and link supply plans with consumption insights in addition to forecasting drug shortages.