Fix Medical Device Inventory & Reduce Costs
The medical device last-mile is complex. The unique variables regarding field inventory, sales, billing, and order management add tremendous costs.
Movemedical can help lower costs for medical device companies in several ways:
- Streamlined Inventory Management: Movemedical’s software allows medical device companies to manage their inventory more efficiently. By providing real-time visibility into stock levels, transfers, orders, and demand forecasts, it helps prevent overstocking and stockouts. This optimization reduces carrying costs and the need for emergency orders, ultimately lowering inventory-related expenses.
- Reduced Manual Labor: Automation of tasks like order processing, data entry, sourcing, audits, transfers, asset allocation, and reporting minimizes the need for manual labor. This not only decreases labor costs but also reduces the risk of human errors that can lead to costly mistakes.
- Enhanced Sales Efficiency: Movemedical’s sales force automation tools enable sales representatives to work more efficiently. They can place orders, capture usage, do transfers, perform audits, submit billing, access product information, pricing, and customer data on their mobile devices, streamlining the sales process. This efficiency can lead to faster order turnaround and increased sales without a corresponding increase in personnel costs.
- Optimized Logistics: The Movemedical platform helps medical device companies optimize their logistics and distribution operations. This can lead to cost savings through better consignment planning, accurate inventory allocation, and improved warehouse management. Timely deliveries and reduced transportation costs also contribute to cost reduction.
- Improved Decision-Making: Analytics and reporting tools in Movemedical’s software provide valuable insights into various aspects of the business. With better data-driven decision-making, companies can avoid costly mistakes and identify opportunities to reduce costs, such as by adjusting pricing strategies or optimizing product portfolios.
- Minimized Excess and Obsolete Inventory: With true visibility into inventory levels and demand, MedTech companies can minimize the accumulation of excess and obsolete inventory. With accurate expiration management, write-offs can be greatly reduced. These costs can be substantial and reducing them is a direct cost-saving measure.
- Integration and Collaboration: Integration with other systems used by medical device companies, such as CRM and ERP systems, ensures smooth data flow and eliminates the need for manual data entry. This not only saves time but also reduces the risk of errors that can lead to additional costs.
- Scale Efficiently: As medical device companies grow, they often face the challenge of scaling their operations. Movemedical’s cloud-based platform allows for scalability without excessive infrastructure investments. This scalable and modular approach avoids unnecessary capital expenditures and aligns costs with growth.
By addressing these aspects of a medical device company’s operations, Movemedical can help lower costs, improve efficiency, and enhance overall profitability.
In summary, Movemedical offers medical device manufacturers a comprehensive and integrated solution to overcome the challenges they face in today’s complex field inventory landscape. From inventory management and demand forecasting to regulatory compliance and cost reduction, the Movemedical platform helps solve some critical bottle-necks in the medical device last-mile. By leveraging the capabilities of Movemedical, manufacturers can enhance their operational efficiency, reduce costs, maintain compliance, and ultimately ensure delivery of medical devices to healthcare providers, improving patient experience and outcomes and securing their position in the market.
If a conversation about how Movemedical can help your enterprise med device company with any or all of the above, let’s talk.