From Cost Savings to Increased Efficiency: How Automation is Transforming Field Inventory Management in the Medical Device Industry

Managing field inventory in the medical device industry is a complex task that can be overcome with automation. Fully integrated systems provide real-time inventory data and optimize inventory levels, leading to increased accuracy, efficiency, and cost savings. mymediset - the Medical Device Hypercloud offers an end-to-end automated inventory management solution that runs inside SAP® environment, enabling medical device companies to automate their field inventory processes.
Consignment Inventory Management | Field Inventory Management | mymediset | SAP Add-ons in the Healthcare Industry
Apr 19, 2023

Managing field inventory in the medical device industry can feel like a never-ending uphill battle. It’s a complex task that requires juggling numerous challenges.

From the high costs of carrying inventory and meeting legal requirements to dealing with unreliable data and the need for shorter lead times. And let’s not forget about the lack of integration between different systems, which can lead to data that is often incomplete or inaccurate. Why? Because when different systems are not working with the same, reliable set of data, on a real-time basis, inventory errors can easily happen.

In addition to the challenges of high costs, legal requirements, lack of integration, and unreliable data, medical device companies must also contend with the need for full inventory visibility anytime and anywhere. It’s crucial for companies to have a clear picture of their inventory levels in real-time, so they can quickly replenish stock when needed and avoid stockouts that could harm patient care.

All these factors combined can make managing field inventory in the medical device industry a daunting task.

Automation as the Key Solution for Field Inventory Management

Fortunately, there are solutions out there, including the exciting possibilities of automation.

Thanks to recent technological advancements, medical device companies can automate their field inventory processes from end to end, leading to increased accuracy, efficiency, and cost savings.

By automating essential field inventory processes, medical device organizations can eliminate the need for manual data entry and reduce the risk of errors. Ensuring that healthcare providers always have the necessary medical devices on hand. This allows organizations to focus on more critical tasks, such as sales engagement and customer experiences, knowing that their inventory is being managed accurately and efficiently.

Benefits of Automation for Medical Device Companies

Automation can transform the field inventory management process of medical device companies. The advantages are multifaceted and go beyond simply reducing costs.

For starters, the automation provided by truly integrated systems enables a crystal-clear view of inventory levels, regardless of the location or time. Medical equipments are automatically replenished and invoiced once they’ve been consumed, leading to faster revenue recognition. To make full use of the automation potential, a mobile app or an RFID cabinet may record the consumption, minimizing delays and ensuring that healthcare providers have the necessary devices on hand. In addition, automated and fully integrated systems provide real-time data on usage patterns, enabling companies to make informed decisions and optimize inventory levels. And let’s not forget about the financial benefits: faster revenue recognition and reduced operating costs.

The Future of Managing Field Inventory with Automation

Looking to the future, it’s clear that automation is set to become the key to solving the challenges of managing field inventory in the medical device industry.

And leading the way in providing automated inventory management solutions for medical device companies is mymediset, the medical device hypercloud.
The complete lifecycle solution improves productivity and lead times while optimizing inventory and saving costs. The mymediset hypercloud runs inside SAP, no additional middleware or software is needed. While being fully integrated into the SAP environment, mymediset runs with real-time and truly reliable data. No additional software or middleware is needed to automate your field inventory processes, mymediset does the entire job for you from end to end without leaving your SAP environment.

It’s time to embrace automation!

mymediset. The World’s #1 Medical Device Hypercloud that automates your loan set, field and consignment inventory processes.
– Hyper-efficient sales
– Hyper-optimized inventory
– 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!

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