For the medical device industry, when a patient's life hangs in the balance, 100% accuracy is the only acceptable outcome. The right inventory needs to be in the right precise place, in the right time—every time.
Not knowing what inventory is on hand, or what will actually be used in surgery makes it even more complex—leading to an insurmountable waste problem due to over ordering and hoarding of unneeded inventory. Vital inventory, that someone else could really use.
This zero error tolerance has led to an incredibly unique and highly complex last-mile supply chain.
With a refocused attention on quality over quantity, teams can get the inventory they actually need, not just lots of it.
Let's break it down and find out what can be done to better improve accuracy that undoubtedly leads to the best patient outcome.
Right stuff. Right place. Right time.
ERPs only show consumption, not demand. What inventory is needed in the field is traditionally assumed based on usage. But with accurate visibility to your inventory, Demand-based Logic enables unprecedented planning accuracy. Dynamic, real-life user engagements inform which stock needs to be returned or moved, and to which locations.
Visibility Across All Locations.
An Inside Scoop:
To Cover More
There are many ways to cut costs. But reducing operational costs while not harming sales is tricky business. With the right demand signal data, deliverability can actually be improved without intensive change management. (it's a quick win for everyone)!
Improve supply-chain resiliency. Demand-based inventory management can tell you the right things to build, extending benefits into the production side.
If It's Not In Demand, You Need to Stop Building It!
An integrated, unified platform can assess and re-balance inventory levels across all locations. Whether it’s consignment at the hospital, loaner stock at a central facility, or field stock in the Rep's trunk, all inventory types are automatically managed, down to the item level.
Break up the silos.
Here are 3 critical areas of discussion.
Stop the bleeding.
Know what you actually need—where and when you need it :
Demand Based Optimization drives 15-25% reduction of assets in Loaner sites.
One size does not fit all. The Movemedical platform enables custom optimization models for each location based on actual field behavior.
Future automation rebalances assets across your network of loaners sites, and enables self-balancing asset placement.
Inventory Optimization models drive focus towards behaviors that enable scalability. Reverse Logistics, Directed Work, and fundamental Role Accountability all enable and drive financial results.
Enable continuous improvement by leveraging data to adapt to your ongoing changes in your business.
Increase asset turns and reduce unfulfilled demand.
We gained better efficiencies in every area: employee output, employee growth, resource management, cost control, and “one team” working on the same goals together.
—Christopher Fullerton, VP of Operations in the orthopedic med device industry for 25+ years