Leading Medical Device Manufacturers are Leveraging Demand Management Solutions to Achieve Tangible Outcomes in their Supply Chain | Infiniti’s Latest Success Story Reveals Why Demand Management Solution Really Matters for Businesses
LONDON--(BUSINESS WIRE)--May 20, 2019--
Infiniti Research, a custom market intelligence solution provider, has recently announced the completion of their latest demand management study for a medical device company. During the course of this study, the experts at Infiniti Research helped the client to lower logistics cost and formulate effective strategies for making smart decisions about inventory and production levels. Also, this engagement highlights how Infiniti’s demand management solution helped the client to achieve average savings of $7.2 million in a span of one year.
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Demand management study for a medical device company (Graphic: Business Wire)
With the rising need to delicately balance medical devices’ security and patient safety, the medical device industry in the US has started facing several challenges like reducing costs, better demand management, improving efficiency, and allocating resources effectively. Poor demand management can result in operational inefficiency and issues pertaining to fulfilling orders, which emerges concurrent with an increase in the demand. Owing to these challenges, companies in the medical device industry are finding it imperative to leverage demand management solutions to improve the efficiency of their supply chain, reduce forecast errors, and become market leaders.
The need for leveraging demand management solutions is increasing for medical device manufacturers due to the surge in the demand for better healthcare products. Request a FREE brochure to gain more insights into our services portfolio and know how our solutions will help you succeed in this competitive marketplace.
The business challenge : The client is a leading medical device manufacturer based out of the United States. The company witnessed a huge decline in their profit margins due to their inability to manage and allocate capacity to meet the fluctuating market demands. They also faced major challenges in identifying long-term savings opportunities and areas for cost-reduction to facilitate product design and development. With Infiniti’s demand management solution, they wanted to manage their inventory, allocate adequate capacity to meet the market demands, and reduce overstocks of products.
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The solution offered: The experts at Infiniti Research followed a comprehensive four-phased approach to help the client accurately plan, predict, and meet the demands of the global customer base. The approach undertaken by the experts in Infiniti Research helped the client to formulate effective strategies for making smart decisions about inventory and production levels. Also, the client was able to increase turnover rates by maintaining the right balance between supply and demand. As such, within a year, the client was able to capitalize on new opportunities, improve under-forecasting, and achieve savings of $7.2 million.
Infiniti’s demand management solution helped the client to:
- Lower holding cost and improve turnover rates
- Avoid gaps in supply and demand
- Wondering how your business can benefit from our demand management solution? Request more information from our experts!
Infiniti’s demand management solution offered predictive insights on:
- Gaining a stronger competitive advantage in the US medical devices market
- Achieving cost savings from inventory management
- Interested in achieving high growth for your business? Get in touch with us to know how our demand management solution can help.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us
View source version on businesswire.com:https://www.businesswire.com/news/home/20190520005448/en/
CONTACT: Infiniti Research
US: +1 844 778 0600
UK: +44 203 893 3400
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES
SOURCE: Infiniti Research
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PUB: 05/20/2019 10:17 AM/DISC: 05/20/2019 10:17 AM