How to Ensure that your Consignment and Field Inventory is a Sure-Fire Success!

It’s easy to have full control and visibility of your inventory – you just need the right tools to do it!
Consignment and Field Inventory is a Sure-Fire Success!

Consignment and field inventory is the most common and cost-effective way to make medical supplies and devices available to customer. However, it also seems to be the most complicated type of inventory that MedTech companies are struggling to keep organized!

Medical supplies, medical loan sets, and equipment need to be moving quickly. Procedures frequently schedule on the same day, within hours, or even at the last minute. This is why making medical supplies immediately available is always a top priority. It is, therefore, self-explanatory that inventory stored with sales reps and in hospital are the primary inventory types with quick turnaround.

The Challenges faced with Consignment and Field Inventory Management

Now,consider the reality experienced by many medical device companies and distributors worldwide. Sales Reps transport medical devices and equipment in their trunk stock. When a hospital needs one for a procedure, they retrieve it from their trunk stock and provide it to the hospital. Is this the end of the story, or is there more to it?

Regrettably, completing this action within the Enterprise Resource Planning system is essential to conducting business. Without it, invoices will not be generated. Furthermore, the specific medical device or equipment will inaccurately remain marked as ‘stored’ in the Sales Rep’s trunk stock, leading to various complications.

If a Sales Rep contacts Customer Service through telephone or email, you’re fortunate, as they will probably handle all the necessary system updates. However, what if the Sales Rep is rushed and can’t immediately notify Customer Service, causing a 24-hour delay that results in missed sales opportunities? These scenarios may seem hypothetical, but they occur regularly in the medical industry.

The Solution to Consignment and Field Inventory Management

Who can ensure this action is also mapped inside your Enterprise Resource Planning system? How can you ensure the invoice is issued to the customer? Who will order the replenishment?

The ideal solution to streamline this process and achieve full automation is simple. You need the right software solution and app for your Sales Reps. Ideally, integrating both solutions fully into your ERP system puts you on top!

Now, envision a different reality achievable with the right software! Picture Sales Reps making the necessary system update in just three seconds while retrieving medical equipment from their trunk stock. The system registers this equipment with just a few clicks. It includes its specific serial/batch number and expiry date, as sold to a particular customer. Instantly, the system generates an invoice and places an immediate order for replenishment. This all occurs seamlessly in real-time, with a global impact on your entire ERP system.

Sounds wonderful, right? That is because it is! Plus, it is simple and extremely user-friendly!

mymediset – The Right Solution

If you feel overwhelmed running SAP ECC or S/4HANA for your consignment and field inventory, then you need mymediset.

mymediset is an innovative turnkey solution designed to manage all types of field and consignment inventory scenario and specification, including:

  • Field transfers – from one Sales Rep to another, from Sales Rep to customer, from customer to another customer, and more
  • Consignment processes – Automatic invoicing and replenishment once a consumption is recorded, using our mobile app and barcode functionality
  • Full visibility – Inventory details by person, serial, batch, lot, shelf lifetime information, and more
  • Reporting options – Product expiring soon, products with quick turnovers
  • Applicable for all kinds of medical supplies, devices, and equipment, including medical loan sets.

mymediset‘s app that has been specifically developed to cover the needs of Sales Reps. What is so unique about it? This app is seamlessly connected to your SAP system! No middleware is required, there are no time delays due to irregular synchronization periods. All changes are immediately reflected inside your SAP system, organization wide.

It is time to reassess how you manage your consignment and field inventory, to ensure that the process is as streamlined and efficient as possible. It can be with mymediset! Speak to one of our experts. Unlock your full potential with mymediset!

Take the next step and find out more in a tailor-made demo! Get in touch to learn more.

Ready to speed up and simplify your medical device management?

Download the factsheet and speak to one of our experts now!

Related articles
Eco-Conscious Strategies: Rethinking the Environmental Impact of Medical Devices

Eco-Conscious Strategies: Rethinking the Environmental Impact of Medical Devices

z Listen to this post i Download PDF The often-overlooked environmental impact poses significant challenges in the intricate landscape of the medical device industry. The transportation of medical devices alone contributes to 8.5% of global greenhouse gas emissions in...

Book a demo with one of our experts

Tell us a little bit about yourself