UPS Launches New Technology To Optimize Field Inventory For Critical Medical Devices
May 24 2018 - 8:00AM
- 20-50% reduction in inventory
- 10-30% reduction in expedited order requests
- Critical shipments delivered to 80% of hospital beds and
surgery centers within 4 hours
When patient care is critical, time is of the essence. That’s
why UPS (NYSE: UPS) announced today new field inventory technology
to help ensure that surgical kits and implantable medical devices
arrive where they need to be, when they need to be there.
The integrated solution – a collaboration with WebOps, a medical
device logistics and analytics technology provider, and Baxter
Planning, an inventory planning and optimization solutions provider
– helps medical device manufacturers optimize their supply chain
amid stricter standards for patient safety. Specifically, the
WebOps application enables precise tracking of surgery schedules,
physician preferences, inventory availability and movement of
surgical kits and implants. Surgeons and hospitals, device and
instrument manufacturers, and distributors can also communicate
about implant usage, product needs and consumption. Baxter
Planning's solution provides unified inventory planning for the
consigned inventory across hospitals and forward stocking locations
to simultaneously improve order fulfillment and productivity while
helping to reduce inventory and transportation costs.
The majority of medical device inventory lies outside a
manufacturer’s direct control, vacillating between field
representatives and hospitals. This limited visibility can result
in redundant inventories within local markets and increased
inventory carry costs and can leave field sales representatives
managing logistics instead of supporting surgeons. With
increasing requirements in the industry, manufacturers need better
control over their field inventory.
UPS currently operates a network of both healthcare field
stocking locations and distribution centers serving manufacturers
and distributors of medical devices. The additional platforms
provide cloud-based capabilities to help optimize field inventory
through enhanced planning, visibility, streamlined logistics and
focused “final-mile” services. The integration of the platforms
with UPS warehouse and transportation systems creates a
comprehensive inventory workload planning and visibility
tool.
The resulting solution centralizes inventory for better control
and visibility and can help you to maintain product integrity,
reduce inventory, enhance sales force and customer service
effectiveness, and improve field resource and asset utilization.
Manufacturers can achieve 20-50% reduction in inventory and 10-30%
reduction in expedited order requests. Also, UPS’s current
U.S. network of healthcare compliant facilities means that critical
shipments can be delivered to 80% of hospital beds and surgery
centers within four hours.
“Medical device manufacturers require specialized services and
solutions to solve problems that help to improve patient care,”
said David O’Leary, vice president of operations, UPS global
logistics and distribution. “We are now leveraging these core
strengths to bring solutions to the implantable medical device
industry that offer better visibility and quality, reduced
inventory and lower supply chain costs.”
About UPS Healthcare
UPS provides global supply chain solutions and expertise to
pharmaceutical, biopharma and medical device companies. UPS has
approximately 8 million square feet of cGMP- or cGDP-compliant
healthcare distribution space. UPS also maintains one of the
world’s largest networks of field stocking locations with
approximately 900 sites. For parcels requiring strict temperature
environments, from CRT to cryogenic, and those requiring
around-the-clock monitoring, UPS has solutions such as UPS
Temperature True™ and UPS Proactive Response™ services. UPS is
committed to expanding its healthcare capabilities including recent
acquisitions of Marken, CEMELOG and Poltraf, to meet the complex
and evolving supply chain needs of the healthcare and life science
sectors. Visit ups.com/healthcare.
Vikki Conwell, UPS Public Relations
404-828-6091
vconwell@ups.com
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