Kuala Lumpur, 2 March 2022 – The pandemic has put immense strain on supply chains around the world over the last two years, owing to a rising demand for a variety of products across industries, including medical equipment. To address this, Lumiere32, a B2B healthcare procurement startup, has launched a new platform feature that will enable manufacturers to connect with hospitals/clinics, wholesalers, and distributors, thus ensuring more streamlined access to medical supplies. This will result in a more efficient healthcare procurement supply chain as it eliminates internal loopholes.
There are several major risk factors that are present in healthcare supply chains – the lack of access to data and costs from the logistics process. Lack of access to data occurs when clinics do not have enough information from manufacturers on the medical devices moving into the hospitals/clinics. This can also occur when industry players are not able to accurately verify the authenticity of medical supplies thus leading to counterfeit products entering the market. From a logistical point of view, the first obstacle in a multi-tier supply chain is the existence of multiple wholesalers and distributors in between which creates bottlenecks that delays shipment to hospitals/clinics.
To address these issues, Lumiere32’s new feature introduces healthcare players to a Direct to Clinic (D2C model), which brings all parties together on a single platform, thus simplifying the B2B Medical device procurement and distribution process. This open-sourced platform acts as a marketplace, allowing sellers to upload multiple products at once and market them accordingly.
First-time sellers who are interested in selling their products will have to register as sellers via their seller centre, inputting the necessary information and business details to build a basic profile. Once their listings are published on the Lumiere32 Marketplace, they will have instant access to over 1.6 million physicians, 300,000 dentists and 200,000 medical device manufacturers/ wholesalers, automatically widening their reach to potential customers.
Lumiere32 has also ensured further convenience for sellers by allowing them to manage their orders, track their sales, and manage both marketplace as well as bulk orders on their personal seller dashboard. Sellers will also have on-the-go access to other business-related data such as sales, volume, bestsellers, among others To further elevate the efficiency of the shipping and logistics process, sellers may liaise with their customers directly through the platform’s messaging system which eliminates internal bottlenecks. Moreover, sellers will have a hassle-free experience when managing their warehouse and shipping orders, not to mention updating their order status in real-time as Lumiere32 has made this data instantly accessible at the tips of their fingers.
Increasing Local Manufacturers Revenue by Expanding to the North American Market
In 2020, North America has captured the largest revenue share in the medical devices segment and is anticipated to continue its dominance over the upcoming years because of the developed healthcare infrastructure. At the same time, the market of medical devices in Asia Pacific is positioned for robust development, making this an ideal time for Malaysian manufacturers to focus on contracting with a large number of distributors present globally to expand their market.
On that note, Lumiere32 has now enabled their platform for Malaysian manufacturers to expand their reach to global markets, thus resulting in increased revenues and a wider customer base.
Other features on the Lumiere32 platform include the company’s recently launched Pay32 Wallet which provides users with Buy-Now-Pay-Later capabilities. In 2021, Lumiere 32 launched their Pay32 Wallet (Buy Now, Pay Later) feature which was made possible by an injection of SGD 500,000. To date, Lumiere32 has successfully onboarded 80 suppliers to their marketplace and has been registered in Malaysia, Singapore, United Kingdom, USA and India. Moving forward, the company aims to reach a total of 10,000 manufacturers atleast to sell online and for Lumiere32 to be available in over 10 countries by the year of 2026.