International Institute for Procurement and Market Research’s Post

🔬🚀 Transforming the Medical Device Industry: The Critical Role of Supply Chain, Procurement, and Logistics 🚀🔬 In the rapidly evolving world of medical devices, the backbone of success lies in an agile and efficient supply chain. As we face new challenges and opportunities, it's clear that procurement, logistics, and overall supply chain management are more crucial than ever. 🔍 Why It Matters: - Regulatory Compliance: Navigating complex regulations requires precision and reliability in procurement and logistics. - Innovation Speed: Accelerating the delivery of cutting-edge medical technologies depends on streamlined supply chain processes. - Patient Outcomes: Timely availability of devices can significantly impact patient care and treatment efficacy. 📈 Key Focus Areas: - Risk Management: Proactively identifying and mitigating risks to ensure continuity of supply. - Supplier Relationships: Building strong, transparent partnerships to enhance quality and reliability. - Technology Integration: Leveraging data analytics and automation to optimize inventory and streamline operations. - Sustainability: Implementing eco-friendly practices and materials to reduce environmental impact. As we continue to navigate these complexities, collaboration and innovation within the supply chain, procurement, and logistics sectors will be pivotal. Let’s connect and share insights on how we can drive excellence and make a meaningful impact in the medical device industry. #SupplyChain #Procurement #Logistics #MedicalDevices #Innovation #Healthcare #RegulatoryCompliance #RiskManagement

Efficient supply chain management is crucial for manufacturers looking to reduce costs and improve operations. A recent case study highlights how outsourcing helped a medical device manufacturer improve materials quality, reduce rush shipments, and achieve significant cost savings. Curious to learn more? Check out the full article here. #procurement #supplychainmanagement

Unpredictable Events Demand Supply Chain Resilience In today's dynamic business environment, the prevalence of unexpected disruptions like pandemics, conflicts, and port strikes underscores the critical need for supply chain resilience. To thrive amidst these challenges, manufacturers must prioritize diversification. Second Sourcing: Your Supply Chain Safety Net Implementing a second sourcing strategy, involving the use of two vendors, is crucial for mitigating risks and ensuring uninterrupted business operations. Benefits of Second Sourcing: - **Reduced Risk:** Safeguard against production delays, supplier failures, and price fluctuations. - **Increased Flexibility:** Seamlessly adjust to evolving market conditions by switching between suppliers. - **Improved Quality Control:** Enhance quality standards by comparing suppliers and recognizing top performers. Choosing the Right Partners When selecting secondary suppliers, emphasize: - **Reliability:** Consistent quality and timely deliveries. - **Flexibility:** Ability to adapt and respond to unforeseen challenges. - **Continuous Improvement:** Dedication to enhancing quality and operational efficiency. Don't Wait for Disruption Proactively diversify your supply chain with dependable secondary suppliers to effectively navigate the uncertainties of today's business landscape. Prepco Medical, with a 40-year track record, specializes in supplying top-quality medical components and assemblies to leading medical manufacturers. Offering in-house tooling design, rapid prototyping, and cost-effective manufacturing services, we are well-equipped to support your needs. Contact us today to explore how we can assist you in implementing a robust second sourcing strategy. Reach out to our sales team at sales@prepco.com or call (603) 237-4080. #medicalmanufacturing #sourcing #supplychain #manufacturingindustry #prepcomedical

Optimize your supply chain by enabling end customers to receive orders directly from a vendor, outsourced contract supplier, or directly from an air or ocean port, bypassing your distribution center through our Distribution By-Pass services. Medical equipment and life science manufacturers and distributors can expedite their fulfillment times by eliminating one or more transportation segments. Enhance the efficiency of your supply chain by segregating orders based on geography and delivering your products directly to customers near the point of manufacture or port of entry. #supplychain 

Warehouse complexity and LT tailored solutions. Warehouse complexity and solutions by Logitrades Warehousing lies at the heart of supply chain management, serving as the bridge between production and distribution. Whether you’re a small business owner or part of a large corporation, understanding the intricacies of warehouse operations is crucial for efficient management. Let’s explore the challenges and practical solutions. What type of challenges you are facing? Let us introduce our capacity. 👨💻 Warehouse space tailored to your needs. Storage for all type of the products including Pharma, medical devices, consumer, FMCG, construction material, non-food etc. let us know your requirement and challenges. Logitrades focused on helping business.

Few days ago, I had a discussion with a friend on supply chain and its myths especially in the healthcare sector... It was quite funny that these myths are actually a 'reality' in some places...I had to share some::: 🤯 Myth ::The demand for medical supplies can always be predictable by hospitals. Some hospitals operate in traditional forecasting.Forr example ::a supply chain manager may think that Since they were able to place order and finsh off 500 packs of Azithromycin drug last month, they coukd still place order and finish off same 500 packs since its still rainy season and the 'clients' are coming in beacuse of flu" ... 🤗Reality::: Demand cant be predicted ,infact predicting demand is like predicting the weather - sometimes it's accurate, sometimes not! What if there was lesser patient or more ? 🤯Myth:: Supply chain management is only about ordering supplies.Does a hospital and other healthcare sector really need supply chain manager and its department ? Is it not just to call Oga Kunle to supply Syringe ? Do we really need to hire an ScM and also logistics? 🤗Reality:: Supply chain takes more than supplying..It's like conducting an orchestra - coordinating logistics, inventory, and more! I feel SCM plays a huge role in determining a company's existence (progress or not)! 🤯Myth :: All medical supplies are always readily available. This is a Myth that's always believed. 🤗Reality::: I remembered back then as an SCM/Operations Manager in a medical device retail outfit, an order came in for a 1.8m high flux dialyzer(200 pcs). I felt it was business as usual. After all, 24 hours ago, we delivered same specification (100pcs) though. Alas ! 1.8m high flux was nowhere to be seen . We combed the whole market..What other suppliers could afford was just 50 pcs .It was quite a sad reality.. 🤯Myth: Anyone can be a supply chain manager . 🤗Reality: It takes a lot of acquired and special skills to work effectively in Supply chain sector .. 🤯Myth::: Supply chain managers are only focused on cost-cutting. 🤗Reality:::They balance cost, quality, and patient care - a delicate balancing act! Cost cutting or budgeting isn't only our function. To SCM, quality comes first. Timely delivery /reliance. Then cost... Remember, supply chain management in healthcare is a complex and vital function that requires careful planning, coordination, and expertise. By debunking these myths, we can better appreciate the important work of supply chain professionals in the healthcare sector!

In a recent article by Supply Chain Management Review Magazine, Sanjay Gupta discusses key KPIs for Medical Device manufacturers. Amongst others, defects per unit (DPU) and perfect order rate caught my attention. Common reasons for a high DPU include recalls and non-compliant documentation. In reducing DPU, perfect order rate will increase along with customer satisfaction. These are both reactive metrics, so one would assume that the top organizations have preventative measures in place to keep DPU close to zero and perfect order rate near the industry standard at 95%. For folks in industry, I'm curious... 1. What do these preventative measures look like? 2. Aside from a QMS, what technologies are being used to ensure GMP compliance? 3. How do the best facilities maintain consistent throughput and limit downtime? Full article 💡 : https://lnkd.in/ePumpy7G #MedicalDevice #GMP #PreventativeMaintenance #MedicalDeviceManufacturing #MedDevice #MedDeviceManufacturing

Let’s Plan Ahead….and not miss a single study timeline due to delays in clinical supplies and equipment reaching sites on time. “We Build & Execute Complex Clinical Supply Plans” 1. Supply Chain Strategy Development 2. Sourcing & Procurement 3. In-study Management 4. Global Storage, Warehousing & Inventory Management 5. Distribution & Logistics 6. Study Close-out ( Returns, Reclamation & Destruction ) 7. Decentralised Trials 8. Patient-care Services Contact us today to discuss how Intrinseque Health can create a robust clinical supply plan for your clinical development programs. contact@intrinsequehealth.com https://lnkd.in/gPWaDs_n #drugdiscovery #drugdevelopment #studystartup #clinicaltrials #healthcare #clinicalresearch #patientrecruitment #sitemanagement #clinicaldevelopment #clinicaltrial #clinicaloperations #clinicalstudy #clinicalsupply

Expiration management is a huge problem for medical device manufacturers. It is much more than just knowing when something is expected to be outdated. There are so many variables and details such as: actual vs expected location, days on hand inventory levels, surgeon preferences, usage history and projections, proper allocation, automation notifications, shipping and returns. Then putting that all together into one place isn't easy. Movemedical has done it. Watch this video: https://lnkd.in/gBEhi3wk #medicaldevices #inventorymanagement

The at-home test market is evolving with new technology, but the same logistics challenges persist. How can life sciences companies ensure safe, compliant, hassle-free delivery to consumers? Read on for RRD Supply Chain Solutions President John Marrow’s thoughts in Inbound Logistics: https://bit.ly/4dQP7L8. #lifesciences #medicaldevice #regulatorycompliance #compliance #supplychain #logistics