By Mareo McCracken
The Only 3 Things Every Medical Device Leader Actually Cares About
Of course, serving and helping the patient comes first, that is priority #1!
In order to do that better – when medical device leaders reach out to us – they want to discuss high-level goals like asset utilization & optimization, creating better sales and operational processes, and building a more efficient sales force.
- Asset Optimization (Inventory Performance)
- Cost Savings & Productivity (Operational Efficiency & Sales Force Effectiveness)
- 1 Globally Unified Process (Scalable System)
Making sure these goals are accomplished is vital. We do that through better technology and processes.
Understanding how it all works is important.
So this article is designed to explain some of the benefits that drive true value that our platform provides. The way the underlying tech works with modern business processes are not available anywhere else (or at least done as well either in-house or 3rd party).
Some of the more incredible advances in technology developed by Movemedical that will transform your last mile supply chain and demand planning are:
- True Kitting w/ Atomic Inventory
- Cross Boundary Workflows
- Cost-to-Serve Metrics
- Turn Ratio Dashboards
- RFID Integration & RFID Reconciling
- Par Management
- Loan Optimization
**watch this new video: https://movemedical.com/transform
Here are deeper explanations for how they all work.
True Kitting w/ Atomic Inventory (UDI Ready, Piece Level Tracking, Serialized or Not)
True kitting means you actually track (in real-time) the individual items virtually and physically within the kit, not just the kit’s name, BOM, and assigned location.
Atomic inventory is the technology and processes Movemedical developed to perform true item-level tracking. Inventory can physically live at one location, while virtually living at multiple locations. This means that inventory can be assigned to kits, assigned to other locations, be physically in the kits or loaned out of the kit without losing the relationship to the parent kit. Inventory can be managed the way it is actually used in the field.
You will gain a complete audit history for every single item movement (both within and without kits)
With the ability to track each piece of stock individually, you can have loan shipping optimization, stock location predictions, auto-reconciliation, and the holy grail of medical logistics: future inventory scheduling.
Cross Boundary Workflows
Growth (both sales and operationally) has been traditionally constrained by:
- Geographic territory distribution
- Operational obligations
- Competing priorities between sales & ops
The ability to separate sales teams, individuals, and business units from operations is key to driving scalable growth.
These operational obligations make it difficult to execute new product sales, specialty sales, doctor/rep communication alignment, new BU integrations, acquisitions, cross-sales, team-based selling, and new distribution models.
To maximize sales growth in the medical device space, you need to functionally separate sales and operations, while still making sure the communication and processes are unified in one platform.
With Movemedical you are not tied down by artificial geographic or product based boundaries. Connect reps and teams to products either as groups or individuals. Enables true cross-selling and emergency coverage while sharing all important knowledge and data.
When you know the cost-to-serve, you can do something about it.
To get true cost-to-serve metrics you need a variety of data points including shipping, time spent servicing account (customer and sales support), items brought-in vs requested vs used, advanced scheduling notifications, expired inventory tracking, and consignment vs trunk stock vs loaners.
With all of these variables in place, you can then compare cost-to-serve ratios across regions, accounts, reps, surgeons, etc…
Turn Ratio Dashboards
There are many ways to create and utilize turn ratios. We look at which metrics and indicators are most relevant to your business and help you visualize them. Once you have true visibility you can enforce accountability and inspire change. Additionally, with Movemedical you have the power to actually take action right within the system. You can request inventory transfers, create loans, perform audits, and adjust inventory as needed since Movemedical is fully integrated into your ERP system.
RFID Integration & RFID Reconciling (HF/UHF)
RFID typically requires multiple software tools and interfaces. By having an all-in-one platform, you erase the need for 3rd party middleware and extra software applications. Movemedical connects directly into the RFID hardware that you choose (Alien, Magellan, Honeywell, Zebra, etc.…) to capture all data. Using RFID just becomes another way to record, count, capture, and transmit data (just like using a barcode or manual entry). So any method or combination of methods will work by having one unified user experience without the need for multiple software applications or interfaces.
Also, Movemedical is developing our own line of RFID hardware that is plug in play from day one. That will be released in 2019.
Par management can be effective as long as there is accurate information.
User adoption is key to finding out true needs. More than what was used, you need to know what was actually brought into every surgery and why. When all stakeholders have access to the same system, perform their daily tasks in one place, and share information then you can finally use modern par management methods.
Par management can be done systematically and adjusted on the fly based on consumption, requests, and sales data or it can be done manually with par levels being set and managed by specified users.
Loan Optimization (1 Loan Per Day)
Instead of shipping items to accounts on a case by case basis, the ability to send it all the items for all the cases for that day is now possible.
The goal of extreme loan consolidation has been a lofty one as long as medical logistics has been around. Consolidating loans to the point of shipping a single loan per day from a given location was an even further stretch of the imagination. With loan optimization, Movemedical has broken this barrier. By controlling inventory allocation at the most granular level and optimizing based on a global, real-time schedule, the loan-per-day concept has now become a reality.
When you combine an advanced schedule that is tied directly to operational performance with atomic inventory, you can plan better and consolidate shipments and loans.
With Loan Optimization, what needs to be brought into a surgery is no longer a guess. Each surgery center/hospital location gets one shipment per day with all the required material for every surgery that day. One shipment. One return. Warehouses, as well as surgery centers and hospitals, experience a reduction in the overall “footprint” of inventory within their locations. In addition to cost reduction, everyone in the supply chain is happier, and operations are simpler.
Here is additional functionality that can also drive huge value:
- Case & Event Scheduling on Native Mobile App (+ Calendar)
- ERP/CRM/EMR Integrations (SAP, ORACLE, Etc)
- Surgeon Preferences / Templates / Preference Cards
- Loaner/Inventory Requests
- Case Management
- Sourcing Matrix (Simple Sourcing)
- Directed Picking (Bin Mapped)
- Shipping (FedEx, UPS Integration)
- Opportunity Management (Sales funnel visibility)
- Inventory Control & Visibility (All Locations, All Buckets – Loaners, Consignment, Trunk)
- Commission Calculations
- Expiration Management & Notifications
- Direct Orders
- Rep to Rep Transfers,
- Rep to Warehouse Transfers
- Real-time Pricing
- Audit/Cycle Counts
- Image & File Sharing
- Mobile Usage Capture
- UDI Compliance
- Barcode Scanning
- Demand Planning
- Consignment/Loaner Management
- Pluggable Workflows (Programmatic Integrations, Integrated Prediction Models)
- HIPAA Compliant Communication
- Sourcing Optimization
- Future Stock (Inventory Assigned to Future Events)
- UDI Ready-Piece Level Tracking
- Auto-Cycle Counting (from phone)
- Merger/Acquisition Integration
- Multi-Catalog Management
- Complex Sales & Operations Alignment
Here are the benefits these advanced functions can drive:
- Asset Visibility
- Maximum Personnel Flexibility
- Better Hospital/Surgeon Relationships
- Compliance (HIPAA, UDI)
- Grow Sales
- Reduce Costs
- Increase Profit
- True process automation
- Inventory visibility
- Secure collaboration for all stakeholders
- Custom workflows
- Accurate demand signal data
- Real-time visibility and tracking of consigned inventory
- Reduced hospital-based inventory
- Reduced expired product
- Reduced wasted product
- Reduced shipping costs
- Increased usage capture accuracy of implants and devices
- Accurate and timely billing processes
If you want to gain true inventory performance and operational excellence by using the world’s only purpose-built solution that unifies sales and operations for the medical device field, please contact us today. We are ready to show you how it has been done in the past and to take this journey with you.
We are excited to partner with innovators, status quo challengers, and leaders who are ready to take things to the next level.
Reach out now: email@example.com
— watch a personalized demo here: www.movemedical.com/watchdemo