You Want to Increase Asset Utilization & Sales—So Do It (Stop Imagining and Take Action, Here Is How)

Written By

Mareo McCracken
Mareo McCracken

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“What gets measured gets improved.”

– Peter Drucker

Yet, you can’t measure something if you don’t have the data, if you don’t have visibility.

To get true inventory visibility you need passive data.

That passive data comes from your sales reps.

Sales reps are an important piece of the medical device industry puzzle. They own the relationships. They are the spark that drives the entire engine. Helping them to do their job better will drive growth and operational effectiveness.

Yet, they do not give you the data you need. Yet…

Yes, they have been provided tools in the past. You have given them CRM and other inventory tools, but none of them worked. They were not used the way or the amount they were supposed to be. When it is easier for a sales rep to do something outside of the tool, it will never get done inside the tool.

So the answer is simple, give them a tool that is easy to do everything they need to do and you will get passive data.

In the medical device world, increasing asset utilization starts with the effectiveness of your sales force and better operational processes.

Here is how you help operations help sales:

  1. Give them true visibility.  (product search, shipments, sales data, case status, account info, inventory status)
  2. Provide an integrated (ERP/CRM) tool that allows them to perform all their work.  (scheduling, field inventory transfers, allocation, receiving, verifying, ordering, scanning, usage, replenishments, billing, POs)
  3. Let them have HIPAA compliant messaging & communication. (eliminate email, texting, most phone calls)

Once your sales reps have a tool they will actually use, then you can collect and measure the right data.

You know that high-level turn ratios in excel are not enough to do your job well.

Once you have the data, then you can plan better. If you get the data soon enough, you even forecast better.

To be able to perform true advanced asset utilization including using predictive modeling with machine learning, AI and cognitive computing, there is more to do, more to apply.

There are 5 levels or stages that med device manufacturers go through:

LEVELS OF ASSET UTILIZATION:

Level 1: Basic Analytics – Turns/Turn Ratios Calculated

Level 2: Mid-Level Analytics – Automation and Visibility

Level 3: Basic Asset Utilization Analytics – Sub-Location View

Level 4: Mid-Level Asset Utilization Analytics – Request-Based Turns

Level 5: Deep Asset Utilization Analytics – Systematic Actions

Level 5 is an incredible place to be. That is the goal. Imagine what it would be like.

Imagine a platform that the sales reps loved to use.

Imagine a tool that captured usage and automated billing and PO management.

Imagine a tool that collected all relevant data and unified stakeholders.

Imagine a system that could automatically change par levels in real-time as upcoming surgery schedules change.

Imagine a system that would instruct a rep to move inventory from their storage locker to an account and every other action that needed to happen.

Imagine a system that allowed you to predict, allocate, and forecast.

Imagine a tool that helped you do your job better.

It is time to stop imagining and start doing.

Now it is time to take action.

Call Movemedical now to begin your journey.

858.956.0219 or info@movemedical.com

WATCH DEMO NOW 

A good field inventory solution and/or a WMS are worth their weight in gold—but a fully integrated medical device-specific operations and sales force effectiveness platform is priceless.

A complete tool should be able to or have:

  • Surgery Scheduling (+ Calendar)
  • Surgeon Preferences / Preference Cards
  • Loaner/Inventory Requests
  • Hybrid Kitting (Skinny Kits, Kit Management, Kit Versioning, Tracking)
  • Case Management
  • Sourcing Matrix Tool
  • Directed Picking & Put-away (Bin Mapped)
  • Active Order Visibility
  • Shipping Coordination (FedEx, UPS Integration)
  • Customer/Account Management
  • Opportunity/Lead Management
  • Inventory Control & Visibility (All Locations, All Buckets)
  • Auto Product Replenishment
  • Commission Calculations
  • Expiration Notifications
  • Direct Orders
  • Send & Receive Tools (Rep to Rep etc.)
  • Contract & List Pricing (Real-time)
  • Audit/Cycle Counts
  • Reporting & Billing
  • Image & File Sharing
  • Secure HIPAA Compliant Communication
  • Mobile Usage Capture
  • UDI Compliance
  • Barcode Scanning
  • RFID Integration & RFID Reconciling (HF/UHF)
  • ERP/CRM/EMR Integrations
  • Demand Planning Tools
  • Consignment/Loaner Management
  • Pluggable Workflows (Programmatic Integrations, Integrated Prediction Models)
  • HIPAA Compliant Communication Platform (Messages, Calendar, Usage, Notes, Files)
  • Sourcing Optimization
  • Future Stock (Virtual Inventory Assigned to Future Events)
  • Atomic Inventory (UDI Ready, Piece Level Tracking, Serialized or Not)
  • Cross Boundary Workflows
  • Lost & Found (Automatic Cycle Counting )
  • Merger/Acquisition Integration
  • Par Management
  • Multi-Catalog Management
  • Loan Optimization (1 Loan Per Day)
  • Separate or Combined Sales & Operations Alignment
  • Cost-to-Serve Metrics
  • Turn Ratio Dashboards
  • Sales Metrics / Data (Reps, Leaders, Corporate)

Need to talk with someone? We understand. Call anytime.

phone: 858.956.0208

email: mm@movemedical.com

or visit: www.movemedical.com/product

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