Amanda Winstead, Freelance Writer12.11.23
Your orthopedic manufacturing business has expanded in the last few years, and with it, your inventory and warehouse locations. Keeping things organized and communicating between these multiple locations can be a hassle if you don’t have the right management strategy implemented.
By taking advantage of the latest technological developments in orthopedic inventory tracking and control, you can communicate inventory needs across all your locations. This will, in turn, prevent common issues like stockouts or delays in medical supply delivery.
Optimizing your inventory management practices will also reduce the risk of product recalls, which are often a result of packaging errors and supply chain disorganization. With the average orthopedic surgeon performing well over 30 surgeries monthly, it is important to ensure your business is prepared for the demand.
Software can help you to streamline operations and keep each location aware of inventory needs and developments throughout the day. Word of mouth or spreadsheets leaves too much room for error. You’ll find employees often making the mistake of incorrectly updating a tab or communicating ineffectively with staff of other warehouse locations.
Enterprise Resource Planning (ERP) software can also be helpful to keep inventory tracking up-to-date and consistent. They can also help employees across all warehouse locations transparently communicate standards and stay in constant contact across the supply chain. In all, it takes the burden off your warehouse staff and allows them to focus on the heavy lifting rather than manually searching for inventory answers.
Movemedical is one company that has developed inventory loaning and tracking software for the healthcare industry. One case study conducted by the company specifically references the inventory management experience of an orthopedic distributor. The operations manager expressed frustration with how long and error-filled cycle counts were. Implementing Movemedical’s inventory management program and software helped the manager and her team review inventory requests and track the journey of lot numbers from the warehouse forward. This greatly reduced mistakes and helped orthopedic healthcare staff prep for surgery much faster.
IoT devices allow for digital asset management with little to no human input. Warehouses can benefit from technology like weight sensors, which come in the form of bins that track and automatically replenish inventory levels. Warehouse staff can remotely manage the devices from a browser. You can even provide access to all warehouse locations so, in case of increased product demand, you know exactly which location can pick up the slack in the event of an unprecedented stockout.
IoT devices don’t only offer the benefit of relieving warehouse staff of extra inventory evaluation tasks. Combined with the right ERP software, you can use these devices to predict and assess demand with predictive analytics. A consistent record of real-time inventory data that is widely accessible lets you examine market trends alongside your own current stock levels, capacity, and sales history. These market predictions will make establishing a budget and developing concise inventory management strategies for the future a breeze.
In terms of orthopedic manufacturing and distribution, this is a potentially lifesaving asset. Since millions of people all over the world depend on orthopedic surgery to improve or maintain their way of life, the importance of accurate inventory records of orthopedic kits cannot be understated. Thoughtful data assessment ensures medical facilities have the necessary stock of orthopedic kits for all procedures, eliminating sales reps as the point of reference for evolving stock needs.
Robotics are another aspect of inventory management that manufacturers are consistently toying with. AI-powered machines and robots reduce the risk of bodily injury in the workplace. Robots follow a particular algorithm, which decreases the opportunity for harmful mistakes that are otherwise caused by human error.
Research demonstrates that 518,000 robots will be implemented for industrial use by 2024. This increased usage leaves room for misuse or injury. To reduce any potential harm caused by AI-driven machinery, it is recommended that extra caution is used during machine maintenance. This includes using items like lockout tagout devices, which halt machine operation until all maintenance is fully finished.
As an orthopedic manufacturer, multi-location inventory tracking isn’t something that must be done internally. One option is to outsource your inventory management to a third party. This takes the stress off your warehouse staff and can even reduce costs overall.
Amanda Winstead is a writer from the Portland area with a background in communications and a passion for telling stories. Along with writing, she enjoys traveling, reading, working out, and going to concerts. If you want to follow her writing journey, or even just say hi you can find her on Twitter.
By taking advantage of the latest technological developments in orthopedic inventory tracking and control, you can communicate inventory needs across all your locations. This will, in turn, prevent common issues like stockouts or delays in medical supply delivery.
Optimizing your inventory management practices will also reduce the risk of product recalls, which are often a result of packaging errors and supply chain disorganization. With the average orthopedic surgeon performing well over 30 surgeries monthly, it is important to ensure your business is prepared for the demand.
Inventory Management Software Solution
Using traditional avenues of inventory management, such as a spreadsheet, becomes more difficult as your number of warehouse locations increases. The efficiency and accuracy you need are things that can only be achieved by inventory management software.Software can help you to streamline operations and keep each location aware of inventory needs and developments throughout the day. Word of mouth or spreadsheets leaves too much room for error. You’ll find employees often making the mistake of incorrectly updating a tab or communicating ineffectively with staff of other warehouse locations.
Enterprise Resource Planning (ERP) software can also be helpful to keep inventory tracking up-to-date and consistent. They can also help employees across all warehouse locations transparently communicate standards and stay in constant contact across the supply chain. In all, it takes the burden off your warehouse staff and allows them to focus on the heavy lifting rather than manually searching for inventory answers.
Movemedical is one company that has developed inventory loaning and tracking software for the healthcare industry. One case study conducted by the company specifically references the inventory management experience of an orthopedic distributor. The operations manager expressed frustration with how long and error-filled cycle counts were. Implementing Movemedical’s inventory management program and software helped the manager and her team review inventory requests and track the journey of lot numbers from the warehouse forward. This greatly reduced mistakes and helped orthopedic healthcare staff prep for surgery much faster.
IoT Devices for Inventory Tracking and Control
Internet of Things (IoT) devices are quickly making their way into everyday manufacturing operations. The medical industry knows how important IoT devices are for offering patient care and keeping healthcare staff organized and well-trained.IoT devices allow for digital asset management with little to no human input. Warehouses can benefit from technology like weight sensors, which come in the form of bins that track and automatically replenish inventory levels. Warehouse staff can remotely manage the devices from a browser. You can even provide access to all warehouse locations so, in case of increased product demand, you know exactly which location can pick up the slack in the event of an unprecedented stockout.
IoT devices don’t only offer the benefit of relieving warehouse staff of extra inventory evaluation tasks. Combined with the right ERP software, you can use these devices to predict and assess demand with predictive analytics. A consistent record of real-time inventory data that is widely accessible lets you examine market trends alongside your own current stock levels, capacity, and sales history. These market predictions will make establishing a budget and developing concise inventory management strategies for the future a breeze.
In terms of orthopedic manufacturing and distribution, this is a potentially lifesaving asset. Since millions of people all over the world depend on orthopedic surgery to improve or maintain their way of life, the importance of accurate inventory records of orthopedic kits cannot be understated. Thoughtful data assessment ensures medical facilities have the necessary stock of orthopedic kits for all procedures, eliminating sales reps as the point of reference for evolving stock needs.
Inventory Management Employee Training
You can have the most technologically developed software and IoT devices in the world, but all of that means nothing without properly trained staff. The manufacturing industry is considered high-risk – workers should feel prepared and protected while on the job. It is important for orthopedics manufacturers to have weekly or bi-weekly training sessions for all employees. This helps keep them aware of any software changes or updates, which lowers the chance of operations mistakes and strengthens the supply chain.Robotics are another aspect of inventory management that manufacturers are consistently toying with. AI-powered machines and robots reduce the risk of bodily injury in the workplace. Robots follow a particular algorithm, which decreases the opportunity for harmful mistakes that are otherwise caused by human error.
Research demonstrates that 518,000 robots will be implemented for industrial use by 2024. This increased usage leaves room for misuse or injury. To reduce any potential harm caused by AI-driven machinery, it is recommended that extra caution is used during machine maintenance. This includes using items like lockout tagout devices, which halt machine operation until all maintenance is fully finished.
As an orthopedic manufacturer, multi-location inventory tracking isn’t something that must be done internally. One option is to outsource your inventory management to a third party. This takes the stress off your warehouse staff and can even reduce costs overall.
Using Tech That Grows with Your Business
Technology has come a long way over the past several decades. It goes without saying that staying aware of new inventory software developments and IoT devices will definitely lower employee burnout and increase productivity in the long run. Regular staff training combined with the right, scalable inventory software that meets your growing needs is crucial for maintaining business and keeping operations tight around the clock.Amanda Winstead is a writer from the Portland area with a background in communications and a passion for telling stories. Along with writing, she enjoys traveling, reading, working out, and going to concerts. If you want to follow her writing journey, or even just say hi you can find her on Twitter.