The medical devices industry is currently driven by innovations and technologies that aid in the development of state-of-the-art medical devices. With the growing demand for medical devices across the globe, leading manufacturers in the medical devices industry have started facing difficulties delivering quality products within the stipulated timelines. Also, in this dynamic healthcare environment, organizations are shifting toward a customer-centric business model to meet the demands of their end-users. Improving supply chain visibility with the help of analytics solutions is another way companies in the medical devices industry can address concerns related to higher expenditure, increased competition, and consolidation of hospitals and health systems.
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To refine their existing business models and increase supply chain efficiency, leading companies in the medical devices industry are approaching renowned analytics solution providers like Quantzig. Quantzig’s supply chain analytics solution helps medical device companies reduce additional costs associated with product transportation and improve the overall supply chain performance.
The Business Challenge
A leading medical devices client, with offices spread across the globe, wanted to gain better visibility into the supply chain process. The client wanted to improve their logistics plans to curtail the risks associated with disruptions and supply chain complexity. The primary aim of the medical devices client was to gain better visibility into the costs involved in the supply chain and reduce expenditure. Furthermore, they wanted to identify ways to curtail delays in the supply of medical devices.
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Benefits of the Supply Chain Analytics Solution
With an aim to improve profitability for the client, Quantzig’s analytics team developed a dashboard to keep track of the demand and supply data. The client was also able to streamline their supply chain process and improve lead times and performance. The solution offered by Quantzig helped the medical devices company identify demand signals accurately and boost supply chain efficiency.
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Additional Benefits of this Analytics Engagement
- Assisted suppliers to anticipate future demand
- Better organized functional silos such as planning, sourcing, production, and delivery
- Managed demand signals more accurately to further reduce inventory levels