By Mareo McCracken
Accurately Optimize Your Inventory While Gaining Complete Visibility (These Metrics Can Change Everything)
Functionality is nice. Actionable data is better.
Features are great. Getting work done is vital.
Combining it all into one system, that is when you create business strategy magic.
When assessing internal and external capabilities, one of the most important questions to ask is: Does the solution provide me with real-time business-critical data?
If it does, you are on the right path.
The only way to get real-time passive data is if the sales reps and ops teams actually use the system every day, for everything. If the reps use the tools the way it was designed, you will get exceptional data. In order for them to want to use it, the tool needs to do what they need it to do, easier than doing it any other way. The user experience comes first.
The Potential of Real-Time Metrics
When you have real-time passive data that ties back to every case, you can create some simple but amazing metrics like:
- Case Trends (Predicted v. Actual)
- Turn Ratio (Trays & Kits)
- Average Selling Price (ASP)
- Cancel Rate
- True Demand (Average & Specific)
- Living Forecasts (Continually Adjusting/Updating)
- Request to Sold Ratio
- Surgeon Trends
- Re-Allocation Mapping
Most likely though the information is not even being collected. If it is not collected how do you make the data available to review let alone make it real-time?
Sure, you might be able to calculate some of this information manually with historic data if you want.
?- But is it helpful when it is not real time?
?- How long does it take to get the information you need?
?- Are your decisions as impactful with a 3-week lag?
A better tool that is driven by actual field usage information you will get real-time metrics. With all of these real-time metrics, YOU WILL make better decisions.
This new data will create dashboards that will allow you to game plan effectively, increase inefficiencies, and speed up the order-to-cash process.
Improving Processes Will Drive Usage, and Usage Drives Data
If you give sales and ops a tool that allows them do everything they need in fewer screens, in fewer steps, and with less hassle, then they will use it. They just want to be able to schedule, request inventory, allocate the sets, trays, and kits. They want to be able to ship and verify in 3 clicks instead of 17 screens with a bunch of copy and pasting. They want an integrated (ERP/CRM) tool that reduces their workload while giving them greater visibility.
Give them a better tool and they will do better work. They will be compliant.
When operations folks perform better, sales notices. Sales reps will trust their ops teams more. When sales and ops are on the same page, using the same tool, you will get better data than you ever thought possible.
With the right data, you can truly change the way you forecast (both sales and inventory). When you have the right data, you can plan better. When you have the right data, you can serve your clients better. It all starts with data…
To get the data you need, enable and empower your field sales and ops teams.
Give them the ability to do their jobs on a unified system and you will get much better results. Those results will translate into better data and that is when you can begin to truly transform your business.
Contact us: 858.956.0219 or firstname.lastname@example.org
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A good field inventory solution is worth its weight in gold, a fully integrated medical device specific operations and sales force effectiveness platform is vital to running an efficient field inventory operation.
A complete tool should be able to or have:
- Surgery Scheduling (+ Calendar)
- Surgeon Preferences / Preference Cards
- CRM / Case & Opportunity Management
- Inventory Control & Visibility (All Locations, All Buckets)
- Active Order Visibility
- Opportunity/Lead Management
- Customer/Account Management
- Sales Metrics / Data (Reps, Leaders, Corporate)
- Shipping Coordination (FedEx, UPS Integration)
- Directed Picking & Put-away (Bin Mapped)
- Auto Product Replenishment
- Commission Calculations
- Expiration Notifications
- Direct Orders
- Send & Receive Tools (Rep to Rep etc., field transfers)
- 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)
- Sourcing Matrix Tool
- 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)
- Hybrid Kitting (Skinny Kits, Kit Management, Kit Versioning, Tracking)
- 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
Need to talk with someone? We understand. Call anytime.
or visit: www.movemedical.com/product