Solutions for Manufacturers Overview MedTrac™ for Consignment MedTrac for Spare Parts Tracking
Overview Most medical manufacturers have invested in ERP and supply chain management systems to streamline operations. While medical product companies have less internal inefficiencies, they still lack visibility throughout the supply network due to the poor systems in place at distributors and hospitals. Medical supply companies begin to lose visibility as soon as products are shipped to distributors, and have slow and unreliable information regarding when or where their products were used - which may occur months or even years after they are manufactured. This makes reliable forecasting and demand planning extremely challenging. Consignment inventory is an acute concern for medical product companies. High-priced products are typically placed on consignment at hospitals, to be paid for upon use. As hospitals do not own consignment products, they do not manage them. This lack of management results in tens of millions of dollars of losses each year to manufacturers as expired, lost, and unaccounted for products are written off Medical supply companies attempt to maintain some visibility by sending their sales force to hospitals to execute manual counts. While somewhat effective, it results in poor sales force utilization and is prone to same problems experienced by hospitals and distributors. The costs incurred by medical supply companies from inefficiencies are incorporated into product pricing, creating a consistent upward trend of medical supplies. Back to Top
MedTrac for Consignment This solution focuses on the unique requirements of consigned inventories. Product consumption is tracked by patient, procedure and doctor. This information can then be electronically transmitted to the manufacturer for reordering. The manufacturer receives visibility of lot information, product expiry and used product. This information helps to ensure payment of actual product used, enables lot tracking by patient and helps manufacturers reduce product expiry risk thus reducing obsolescence. Back to Top
MedTrac for Spare Parts Tracking This solution provides visibility of spare parts inventory and enables field service engineers to locate required spare parts to service medical equipment as quickly as possible. Often field service engineers find that they do not have the necessary part to fix the equipment once they have diagnosed the problem on site. Using mobile technology the field service engineer can search for the required parts to repair the equipment. Back to Top
