Well, in a way. The Unboxs Solutions team cheekily tells strangers that they are in the drug business; they are not lying. They have just launched their platform, MedF1 – connecting medical drug suppliers and buyers. Nothing illegal here, sorry to disappoint.
Founded by three schoolmates who each had gone on an immersive entrepreneurial programme across the world, Unboxs Solutions focuses on improving the efficiency of logistics and clinic operations within the medical industry. MedF1 helps medical practitioners search for and purchase drugs, medical devices and consumables, while enjoying cost savings.
Evolving from smartphones and tablets to medicine
The computing and engineering backgrounds of Toh Hong Pang (CTO), Jamen Loh (Sales and Marketing) and Ryan Teo (Sales and Marketing) did not dictate a natural inclination towards the medical industry. How then did they end up doing MedF1? The three men had started out with plans to build point-of-sales applications for smartphones and tablets. After going down that line for a while and after hearing from their advisor who’s a medical specialist on problems faced by private practices, the team brainstormed and finally settled on attempting to solve logistical problems within the medical industry.
Aggregating demand and supply
MedF1 aggregates demand and supply in the medical industry by connecting suppliers of pharmaceuticals, medical devices and consumables with clinics, medical centres and hospitals. The platform helps the latter group manage their inventory needs while saving money on their drug and device orders through an online account. In their words, it is “akin to a group purchasing office within a large medical organization such as a hospital or a private chain”. Suppliers can also offer promotions and bundled savings.
Searching for products on MedF1
Making orders on MedF1
A sample clinic account login overview
Improving efficiency and predictive forecasting
The next step in their goal to help improving logistical efficiency, the team will be integrating their platform with the business operations and IT systems used by the suppliers. The Unboxs Solutions tells me that the aim is “to be Just-In-Time”: imagine a direct path from the ordering to the order being processed in the supplier’s system. Pharmaceutical companies and the like can save on manpower costs and clinics get their orders fulfilled faster.
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