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CVS Caremark Receives Logistics Best Practice Award at 2011 Supply Chain Logistics Summit
Thursday, December 15, 2011
- Award recognizes CVS Caremark's implementation of innovative processes and technology that improved productivity and lowered costs throughout its retail distribution network -
WOONSOCKET, R.I., Dec. 15, 2011 /PRNewswire/ -- CVS Caremark announced today that it has been awarded the 2011 Supply Chain Distinction Award North America in the Logistics Best Practice Category. The awards were announced last week at the annual Supply Chain Logistics Summit held in Dallas, Texas.
The Logistics Best Practice Award recognizes companies that drive logistics excellence throughout the organization through the development of efficient, sustainable and cost effective strategies. CVS Caremark received this year's award for a multi-year process improvement and technology integration program across its entire distribution network that significantly reduced the cost of operations while improving productivity and customer service.
Central to the CVS Caremark Logistics organization's success was a cultural and change management framework called Personal Responsibility in Delivering Excellence (PRIDE) that accompanied the implementation of several innovative process and technology improvements over a four-year period. This included the integration of a new warehouse management system for inventory and workflow, a labor management system for performance measurement and employee incentives, a route optimization program for managing store delivery schedules and routes, and an inbound freight appointment and visibility system.
CVS Caremark's implementation of PRIDE and supporting processes and technologies across 18 distribution centers involving more than 7,000 associates resulted in significant productivity improvements, a reduction in costs and inbound transit times, and improved on-time store delivery performance.
"Our 7,300 CVS/pharmacy stores serve more than 4 million customers daily, so it is critical that our distribution network operates at best-in-class efficiency to ensure that the products our customers want are delivered to our stores in a timely manner," said Ron Link, Senior Vice President of Supply Chain and Logistics at CVS Caremark. "Receiving the Logistics Best Practice Award is a testament to the outstanding and innovative work accomplished by our Logistics team, our suppliers and transportation providers, and our colleagues from around the company."
For more information about the2011 Supply Chain Distinction Awards North America, visit http://supplychainawardsna.com/winners2011.asp.
About CVS Caremark
CVS Caremark (NYSE: CVS) is the largest pharmacy health care provider in the United States with integrated offerings across the entire spectrum of pharmacy care. We are uniquely positioned to engage plan members in behaviors that improve their health and to lower overall health care costs for health plans, plan sponsors and their members. CVS Caremark is a market leader in mail order pharmacy, retail pharmacy, specialty pharmacy, and retail clinics, and is a leading provider of Medicare Part D Prescription Drug Plans. As one of the country's largest pharmacy benefits managers (PBMs), we provide access to a network of more than 65,000 pharmacies, including more than 7,300 CVS/pharmacy® stores that provide unparalleled service and capabilities. Our clinical offerings include our signature Pharmacy Advisor™ program as well as innovative generic step therapy and genetic benefit management programs that promote more cost effective and healthier behaviors and improve health care outcomes. General information about CVS Caremark is available through the Company's website at http://info.cvscaremark.com/.
SOURCE CVS Caremark