Inventory management: TradeBeam shores up working-capital savings for med device makers
The medical equipment industry is under pressure to lower costs and control working capital more effectively. Since businesses and their suppliers must constantly adapt to ever-changing demand, it is critical that their technology infrastructure is highly flexible and can be quickly adapted to meet these challenges.
SaaS-based global trade management specialist TradeBeam says its collaborative i-Supply inventory management system enables medical device manufacturers to optimize inventory levels across multiple tiers of the supply chain. This integration leads to working capital savings, and ultimately helps manufacturers gain as much as a 110-percent ROI in one year through reduced inventory and improved customer and supplier performance.
i-Supply allows businesses to integrate multiple inventory management models into a single system and manage replenishment of raw material, components and distribution centers accordingly. It optimizes inventory levels between distribution centers and manufacturers as well as manufacturers and their suppliers by establishing the visibility to minimize risk and disruptions, and improve predictability. Additionally, i-Supply's improved inventory collaboration brings near-term working capital reductions.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey