VCRP™ for Rep Serviced MedTech
Mobile Medical Device Inventory Challenges… And a Solution
Medical Technology and some Specialty Pharma OEMs struggle with opaque and inefficient field distribution chains. These manufacturers are challenged with large, yet “invisible” mobile field inventories typically managed manually by Reps. In many cases, inventories are excessive, yet field reps frequently experience shortages as they attempt to react to unpredictable provider requirements and last minute demand / schedule changes.
Further complications include; evolving regulatory traceability requirements, managing consignments, dealing with effectivity and expiration dates, planning complex kitting requirements and managing reusable tools. Often times a field rep will “loan” items to providers that inadvertently get “lost in the shuffle” and don’t find their way back on to “official “inventory records. This is a significant financial issue, and now, with regulatory traceability laws in most developed countries, is a compliance risk as well.
These large field inventories tie up significant cash resources, yet often fail to satisfy provider requirements. Too often, the correct device or package/dose is not available in a particular field reps case at a specific moment in time at a specific operating theater or clinic. In order to improve customer/patient outcomes, even more inventory is added to the field… and more customized, manual procedures.
Most medical technology and pharma supply chains are “powered” by a multiplicity of disparate IT & manual systems and process execution can be highly fragmented. Until now there has been no platform well suited to solve the field stock challenge without costly customization.
Vecco – a recognized leader in multi-tier supply chain planning and management solutions, now offers MedTech-Trac to drive substantial improvements in OEM field inventory performance and customer satisfaction. The MedTech-Trac solution works with a wide variety of data acquisition and case technologies, including barcode scanners, and traditional cases and the new RFID enabled cases. We also offer fixed site consigned inventory support options.
Field reps, managers and providers can interact with the solution via phones, tablets and PCs.
MedTech-Trac can help detect inventory problems and address them before providers are impacted. See spikes in demand before they impact providers and dramatically enhance the accuracy of planning and compliance. Gain competitive advantage over traditional field inventory management processes.
MedTech-Trac is a demand driven inventory management solution for mobile case inventory. The SAAS solution utilizes smartphone / cellular based barcode scanner and / or Radio Frequency Identification (RFID) technologies to provide real time projections of field rep inventories and their specific locations throughout the day.
Cellular tracking provides automated serial and lot traceability of mobile case inventory from Original Equipment Manufacturers (OEMs) to field reps to providers. Tracking can be performed on individual items, or on kits that can be consumed in part or as a whole. The system provides current inventory status, scheduled points and times of use, and if not in the case, then where on consignment. The system automatically generates alerts and recommended shipments to replenish mobile case inventory.
MedTech-Trac can easily be integrated with your existing software solutions to dramatically enhance the accuracy of planning and compliance processes and ensure that constraints and shortages are addressed before provider requirements are missed.
Enable higher levels of Provider Satisfaction and OEM Profitability
Supply Chain 4.0 enabling the Digital Enterprise and Industry 4.0
The real value of the “Digital Enterprise” movement & Industry 4.0 can only be realized unless it is encompassed and orchestrated by parallel automation/Digitization of the ‘Supply Chain’ delivery mechanism. “Global supply chain flows must become increasingly digital and integrated, and end-to-end data will be driven in real-time, exponentially increasing upstream information flows and driving integration across the extended value chain”… thus the recent emergence of the “Supply Chain Management 4.0” movement. Read more in this recent research by... read moreHave A Question
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Formlabs Leverages Vecco to Manage Global Demand, Supply, and Inventory Operations
Leading 3D printer manufacturing company deploys next generation supply chain management system to orchestrate supply and demand across their rapidly expanding global supply chain. MALVERN, PA. Vecco International, provider of an advanced end-to-end cloud-based supply chain management solution, enables Formlabs, the industry leader in 3D printing technology, to manage the company’s global supply chain in support of their rapid international growth. “We are honored that Formlabs has selected Vecco as the foundation of their Digitization Initiative supporting its rapidly expanding complex global supply chain” said Jonathan Kall, Vecco’s CEO. Formlabs pioneered the new category of professional desktop 3D printing in 2012 when it launched the world’s first affordable, powerful desktop stereolithography 3D printer. Today the company is bringing powerful and accessible fabrication tools into the creative hands of professionals around the world. Formlabs will deploy Vecco’s Value Chain Resource & Response Planning (VCRPTM) platform across its multi-tier supply chain enabling them to better plan and manage worldwide inventory and gain complete visibility and control over the company’s product supply and demand. According to Henk Van Wuijckhuijse, Global Head of Planning & Logistics, “Formlabs selected the Vecco platform because of its comprehensive yet incrementally deployable supply chain capabilities which will enable us to extend our NetSuite ERP and better plan and execute on constant changes in demand, supply and inventory. With Vecco on board, we now have the ability to scale the business by overseeing and proactively managing what is quickly becoming a very complex worldwide supply chain.” Vecco’s patented, cloud-based multi-tier VCRP solution can extend and complement all major ERP and S&OPs to provide visibility and control across... read more
Is Lack of Real-Time Global Data Threatening Your Ability to Service Your Customers?
So you’ve just learned that there’s good news… and there’s bad news. First, the good news: your sales for a specialty item manufactured in-house are through the roof. In fact, they’re way over forecast. Now, the bad news. You’re short on production orders. And raw materials. And coordinating your global supply chain in a timely manner to meet your customers’ needs feels like an even taller order. This scenario is just one of many that’s all too familiar for manufacturers. So what is the real problem here? And how can you handle the constant change in your supply chains more effectively? In this blog, we’ll discuss how the lack of real-time, end-to-end data can disrupt business operations and what can be done to prevent the “bad news” scenarios. Too Many Systems, One Major Disconnect First, consider the sheer number of systems that today’s global manufacturers rely upon to run their businesses. Often a result of internal growth or acquisitions, such systems might include everything from multiple ERPs, to CRMs, to S&OPs, to spreadsheets, and so on. The problem, however, is not simply a result of running multiple systems—it’s due to those systems not being interconnected. To make matters worse, those systems are typically not able to “talk” with external systems in their supply chain. This limited visibility, both internally and among partners’ systems, prohibits decision makers from being able to correct problems before they become serious—or conversely, respond to opportunities in the consumer and business-to-business marketplace. The Missing Pieces Again, what’s missing from the scenario above is real-time, end-to-end visibility of actionable information that allows manufacturers to proactively respond... read more