And if not managed right, it’s expensive.
Loss of visibility and control is costing the industry big time. But there is hope.
Out of Sight…
Once inventory hits the field it disappears into a mysterious black hole, only to emerge from another dimension after it’s already expired, or it’s been written off (or maybe it’s just lost forever). It feels like you’re always the last to know what happened to your consumed consignment inventory. What was used, who should be billed for it, where should the replenishment order go?
You know it’s not working
You shouldn’t have to hire an army of auditors, or assign an elite task force to manage and reconcile the barrage of exceptions and discrepancies. Having to work in an environment with so much manual effort, and so little automation is hard on your people. It’s too much responsibility, and too little accountability. You need your valuable staff to want to stick around because they are successfully saving inventory from waste, not just reporting losses.
You’re not alone. There is a way–a right way to do it.
Keep ahead of it, with real-time visibility to all stock, at all locations. Track lots for automated, compliant accountability. Leading med device companies are managing consignment as an integrated part of their last-mile supply chains.
Find out how we can help you make Consignment work for you (not against you).