Managing medical device field inventory is uniquely complex due to several factors distinctive to the medical device industry.
A few of the biggest challenges that make medical device field inventory so difficult are:
- Lack of True Inventory Visibility
- Cumbersome Manual Processes
- Disconnected Systems and Tools
- Outdated Software and Inefficient Processes
- Inadequate Data for Decision Making
- Complexity of Consignment, Bill-Only, and Loaner Medical Device Field Inventory
- Excessive Inventory, Write-Offs, and Slow-Moving Stock
These unique aspects of medical device field inventory management demand specialized solutions that can address the industry’s specific challenges.
Movemedical was built and designed to enhance visibility, improve efficiency, and ensure compliance throughout the entire last-mile for medical device field inventory management. Movemedical offers solutions to help medical device companies overcome the particular challenges to managing their field inventory effectively. Here’s how Movemedical addresses each specific challenge:
1. Lack of True Inventory Visibility:
Movemedical provides a unified platform that gives companies the visibility and control they need over their inventory. This includes real-time tracking of each piece of stock individually, empowering organizations with full inventory control and the ability to make informed decisions.
2. Cumbersome Manual Tracking Processes:
By automating key inventory management processes, Movemedical reduces the reliance on manual tracking. This includes field transfers, audits, cycle counts, enhancing accuracy, efficiency, billing, and streamlining the management of consignment, bill-only, loaner, replenishments, and audits.
3. Disconnected Systems and Tools:
Movemedical combines various aspects and components of inventory management into a single platform which, through active integrations into the ERP (SAP, Oracle, Etc.) connects previously disparate systems. This comprehensiveness and ERP integration facilitates seamless operations, from case management and billing to usage capture, loans, and kitting—ensuring that all components work together efficiently.
4. Outdated Software and Inefficient Processes:
The Movemedical platform offers modern, digital solutions specifically designed for the medical device industry, replacing generic or outdated tools, and manual or inefficient processes. This includes advanced features for optimizing field inventory asset utilization without losing sales, and improving overall operational efficiency. Movemedical makes it easy for users to do the right thing.
5. Inadequate Data for Decision Making:
By collecting 10x more passive data than any other platform, Movemedical provides actionable data and advanced analytics, enabling companies to make powerful data-driven decisions. This includes demand-based asset optimization and the use of predictive modeling to forecast inventory needs accurately.
6. Complexity of Medical Device Field Inventory:
The platform is built to handle the unique complexities of medical device field inventory, including the management of consignment inventory, par levels, bill-only, loaners, and true kitting processes. This allows for effective management of the diverse and complex inventory requirements specific to the medical device industry.
7. Excessive Inventory and Slow-Moving Stock:
Expiration management capabilities within Movemedical help to eliminate write-offs. Through notifications, optimized inventory management, and advanced analytical models, Movemedical helps companies reduce inventory with proper allocation. The platform enables efficient inventory placement and replenishment based on accurate, real-time data, thus minimizing waste and improving asset utilization.
By providing a comprehensive and integrated toolset tailored to the specific needs of the medical device industry, Movemedical enables companies to overcome these challenges, leading to improved efficiency, reduced costs, and enhanced operational performance.
If a conversation about how Movemedical can help your enterprise med device company solve any of these challenges above, let’s talk.
Contact us here: info@movemedical.com / call 877.469.3992 or watch this VIDEO (executive case study)
