Managing field inventory in the medical device industry can feel like a never-ending uphill battle. It is a complex task that requires juggling numerous challenges.
What happens when different systems do not work with the same reliable set of data on a real-time basis? We have higher incidences of field inventory management errors. This can prove expensive for MedTech companies that need to meet shorter lead times. This means absorbing costs associated with carrying excessive inventory, greater opportunities for missed older stock leading to more wastage, potential legal issues associated with unable to fulfil orders due to unreliable data, and loss of business as a result. And being a part of the health industry, this means direct impact to patient well-being.
This makes it crucial for companies to have clear visibility over their inventory levels in real-time, which allows for improved control over their inventory and supply chain processes. This can prove a daunting task for the medical device industry without the right solutions. Enter, mymediset!
Automation – the Key Solution for Field Inventory Management
Automation is an exciting possibility that recent technological advancements have enabled. Medical device companies can automate their end-to-end field inventory processes, resulting in increased accuracy, efficiency and cost savings. Automation eliminates the need to manual data input, reducing the risk of errors resulting from double handling. This ensures healthcare providers can trust that their necessary medical devices will be available when required. Organisations can then focus on task pertinent to sales engagement and customer experiences, knowing their current capabilities.
Benefits – Automation for Medical Device Companies
Reduced cost is only one benefit to automation for medical device companies. It can streamline processes such as field inventory management. Clear and accurate visibility and information on current inventory levels is always at hand in a fully integrated automation system. It will also enable automatic inventory replenishment and invoicing on consumption of inventory, resulting faster revenue recognition. Mobile apps and RFID cabinets enhance the automation potential allowing for real-time recording of inventory usage, triggering following events within the supply chain process. Fully integrated systems also provide valuable analytics data that allows companies to optimise inventory levels based on demand. They also provide financial benefits, such as faster revenue recognition, reduction in operating costs and reductions in overall waste.
The Future – Managing Field Inventory with Automation
Automation is set to become the key to resolving challenges pertaining to field inventory management in the medical device industry.
mymediset, the medical device hypercloud, leads the way in providing automated inventory management solutions for medical device companies. A complete solution that captures the supply chain lifecycle, it improves lead times and productivity, optimises inventory and saves costs. The mymediset hypercloud is fully integrated into the SAP ® environment without requiring additional software or middleware. mymediset provides reliable and real-time data crucial to the success of field inventory processes, and all within the SAP ® environment.
Embracing Automation Now!
mymediset. The World’s #1 Medical Device Hypercloud that automates your loan set, field and consignment inventory processes.
– Enables hyper-efficient sales
– Provides hyper-optimized inventory management solutions
– Is a hyper-integrated technology
Only one platform does that all without leaving your safe SAP ® environment: mymediset . With its many benefits, you’ll wonder how you ever managed without it!
Speak to one of the mymediset hypercloud experts today!
