CEO Update, April 2019
CEO Update, April 2019
April 30, 2019
April was a great start into the second quarter. Several team members presented our solution at major events such as the Medtech Networking event in Zurich, the SAP Campus forum in Basel and, of course, at LogiPharma. Moreover, not only are we part of an exciting consortium and have secured a new business partner, we are also in the midst of planning events ourselves. In order to support us in all of those exciting endeavors, two new members have joined the team. This month’s CEO update gives an overview of the latest developments.
As mentioned in the last CEO Update, our team attended the LogiPharma conference in Montreux. Overall the event was even more successful than we hoped it to be, as we were both able to generate numerous leads with a keen interest in evaluating our solution in the field, and also received positive resonance to our speech on how we address not only current challenges but also those of upcoming trends such as precision medicine. In addition, we made a large step to position ourselves as a company which goes beyond monitoring, taking a more holistic view on the distribution of sensitive goods. One corresponding example I talked about in the last CEO update was Quality-Assurance-as-a-Service (QAaaS), where we outlined our view in a blogpost in the run-up of Logipharma. Today I would like to outline a solution using predictive analytics, which we also showcased in Montreux – the MODsight Packaging Selector. This tool provides a means of optimization by predicting the package temperature and then suggesting appropriate packaging options. In collaboration with a client, we sampled shipment routes all across Switzerland during winter to assess the potential of a risk-based approach for the choice of packaging when shipping medicinal products. We wanted to know how many cold chain shipments would not require full thermal insulation but could be sent with reduced insulation or even no insulation at all. The results were promising: taking a shipment profile of 2 to 8 °C, we found that approximately 40% of the shipments had the potential for optimization. Our predictive model was integrated into a tool, which not only proposes the optimal day and packaging to use, but also shows the corresponding cost impact. This allows clients to be flexible depending on their risk appetite.
This is just one example illustrating how Modum can leverage advanced analytics to not only provide deeper insights into the supply chain by leveraging the trusted data of the MODsense monitoring solution but can also help optimize operational processes.
New Business Partner
We are thrilled to announce that Deloitte has decided to officially partner with Modum. On the one hand, this puts Deloitte in a position to serve their clients in digitalization initiatives of supply chains through innovative technologies around blockchain and IoT. On the other hand, Modum benefits from the global reach of Deloitte and can rely on the advisory services of Deloitte. One of the partnership’s goals is to market our solution portfolio across the Deloitte Network and to support each other with expertise related to digital supply chain monitoring solutions and excellent advisory services.
Modum in Brussels
Carl Spörri was invited to present our various use cases at the roundtable of the Groupement International de la Répartition Pharmaceutique (GIRP) working group for blockchain in Brussels, Belgium on 30 April, 2019. The participants of this roundtable have a keen interest in hearing about tangible applications of emerging technologies in the pharmaceutical supply chain.
GIRP is a non-profit association representing the national associations of over 750 pharmaceutical full-line wholesalers serving 33 European countries, including major pan-European pharmaceutical full-line wholesaling companies. It constitutes “the umbrella organization for pharmaceutical full-line wholesalers and distributors of healthcare products and services in Europe.”
Modum is sponsoring Swiss Blockchain Hackathon
The Swiss Blockchain Hackathon assembles more than 200 hackers, startups, global corporate-, and academic partners to take a look at the most pressing real-world challenges and build blockchain solutions for various industries. Modum has partnered up with the organizers of the Swiss Blockchain Hackathon and helped to define the challenge for the industry vertical “Stepping into the age of intelligent parcels”. Read more about the #SBHACK19 and the challenges.
The transformative business potential of AI, IoT, and DLT – our view
Read what we think about the potential of AI, IoT and DLT and why the supply chain is a good entry point for these technologies in the latest edition of Credit Suisse’s asset management magazine Scope.
Announcing MOD Day 19
And last but not least, we are very pleased to announce that in the fourth quarter of this year, we will hold our second MOD Day in Zurich. Building on the success of last year’s event, we are set to exceed it. MOD Day 19 is dedicated to all our stakeholders, we will showcase our solutions, stand up to questions, engage in discussions, have experts in the field hold thought provoking speeches, and spend a fun event together… Watch this space for more information coming soon!
As you can read, we are continuing to build marketing momentum and focus on market penetration. We are excited about our progress and what is in the pipeline for the coming months.
I am looking forward to a successful May and wish all of you the same. Thank you for your ongoing support.
– Simon Dössegger, CEO
30 April, 2019