Oracle, with a market value of three trillion, sees opportunities for RFID technology in healthcare

Oracle Corporation, officially known as Oracle Corporation, is a multinational technology company headquartered in Redwood Shores, California, USA. Founded in 1977, Oracle is a leading provider of database software and technology in the global market, holding a significant position in the enterprise software market. Its products and services are widely used in various industries worldwide. According to the latest data, the company’s total revenue grew by 8% to $13.3billion,withcloudproductrevenueincreasingby21$5.6 billion. Currently, Oracle’s market capitalization has reached $429.61 billion (approximately three trillion RMB), with a price-to-earnings ratio of 40.17, which is relatively high, indicating that investors have high expectations for the company’s future earnings. Recently, this trillion-dollar giant announced a partnership with RFID industry leaders to integrate RFID technology into Oracle’s Fusion Cloud Inventory Management.

RFID Technology: Intelligent Upgrade of Medical Inventory Management

On September 11, 2024, at the Oracle CloudWorld conference, Oracle Corporation announced the launch of new RFID replenishment functionality in its Oracle Fusion Cloud Supply Chain and Manufacturing (SCM) suite. This feature aims to optimize inventory management for healthcare providers by integrating RFID technology into Oracle Fusion Cloud Inventory Management in collaboration with companies such as Avery Dennison, Terso Solutions, and Zebra Technologies.
RFID (Radio Frequency Identification) technology identifies specific targets and reads and writes related data through wireless signals, automatically completing tasks such as inventory counting and item tracking without manual intervention. In the medical field, the application of RFID technology can greatly improve the efficiency and accuracy of inventory management. Chris Leone, Executive Vice President of Application Development at Oracle, pointed out that RFID technology will effectively prevent delays and shortages that may be caused by manual inventory management, increase productivity, provide real-time inventory visibility, and minimize human errors.

Optimizing Inventory Management, Enhancing Patient Care Experience

Oracle’s RFID replenishment solution can automatically track the inventory status of medical supplies, update inventory balances in real-time, and automatically trigger the replenishment process when inventory falls below a safe threshold. This feature not only simplifies the operational process of inventory management and reduces the manual workload of healthcare personnel but also ensures that medical supplies are available whenever and wherever needed, thereby improving the timeliness and effectiveness of patient care.
In addition, RFID technology also supports the fine management of various medical supplies, including high-value non-implantable items, temperature-sensitive goods, and low-value supplies that require regular automatic replenishment. This fine-grained management helps medical institutions better grasp inventory situations, avoid unnecessary waste and shortages, and further improve the quality and efficiency of medical services. As a leading technology company globally, Oracle has always been committed to promoting industry development through technological innovation, providing efficient and intelligent solutions for various industries. Through its innovative application of RFID replenishment functionality in the field of medical inventory management, Oracle has improved the work efficiency of medical institutions and the patient care experience. In the future, with the continuous advancement of technology and deepening of applications, Oracle will continue to lead the industry forward, bringing intelligent solutions to more fields. END