Distribution

Visualize inventory in real-time by deploying automated processes that maximize profitability.

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Problem

Product loss due to theft, expiration or loss has been recently reported to have surpassed $5bn annually in the United States alone [1]. Chances are, your organization is contributing to the above figure, writing off millions of dollars worth of unnecessary loss each year. Transactional inventory reporting works fine for vast majority your product portfolio, but what about the 20% of products contributing up to 80% of your product loss expenses?

What's worse, medical device recalls are on the rise. Between 2003 and 2012, recall incidents doubled, costing the industry anywhere between $2.5-5bn annually, with one reported event costing a manufacturer $600m alone [2, 3]. Are you confident in your ability to identify every single recalled product within 24 hours or less?

[1] "Survey Finds Hospital Staff Report Better Supply Chain Management Leads To Better Quality Of Care And Supports Patient Safety". 2017. Cardinal Health News & Media. http://cardinalhealth.mediaroom.com/2017-02-15-Survey-Finds-Hospital-Staff-Report-Better-Supply-Chain-Management-Leads-to-Better-Quality-of-Care-and-Supports-Patient-Safety.

[2] "Medical Device Recall Report – FY2003 to FY2013." www.foodanddrugadministration.com. Food and Drug Administration. Web. April 2015.

[3] Ted Fuhr, Katy George, Janice Pai. "The Business Case of Medical Device Quality." www.scm.ethz.ch. McKinsey Center for Government. Web. April 2015.

Solution

How RELATABLE can help

Combined with the Product Data Catalog (PDC), our Automated Inventory Management (AIM) solution delivers real-time visibility on every single product in the field, 24 hours a day, 7 days a week, 365 days a year, reporting the location, personnel custody and usage of each tracked product.

Learn more about Automated Inventory Management

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Benefits

Visualize product quantities, expiration statuses and par levels in real-time

Locate products in the field by serial, lot, type or brand name in seconds, identifying the current location or personnel custody and expiration status with zero manual labor involved.

Enforce product accountability for each tracked product

Secured access to inventory enables product accountability to be assigned down to the individual level, creating an audit trail of activity for each product.

Uncover hidden insights in usage data

Any data attribute on a given product in the Product Data Catalog (PDC) may be analyzed and compared against the use of other products in AIM, like Product Type:Pedicle Screw with Material:Titanium vs Material:Cobalt Chrome Used At Facility X over the past 90 days.

Deploy automatic "vending machines" for applicable product lines

Not every product requires local representation - deploy an automated solution to keep critical inventory on-site with minimal vendor representative maintenance requirements.

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