Healthcare logistics are, quite literally, a matter of life and death: when shipping an organ, an urgent drug, or a piece of equipment, there is zero room for error or delay. Yet even within this high-stakes timeframe, medical suppliers have typically lagged behind in the global race to optimize their fulfillment practices.
Of course, for those selling medical supplies, the survival of their business is also at stake. Expert analysis has found that medical equipment suppliers stand to save many billions of dollars simply by implementing a more efficient supply chain and improving their logistics. Yet healthcare suppliers also face unique challenges, from the complexity of the products themselves to the uniquely specific needs of their customers across the globe.
Here, we’ll examine three of the most crucial reasons that medical suppliers should embrace a modernized supply chain: to improve their efficiency, to reach emerging markets, and to more easily comply with regulatory requirements.
Better Efficiency, Lower Costs
Given the complexity of the healthcare industry—in which a wide variety of products with unique environmental sensitivities, lifecycles, and safety concerns must be delivered rapidly to exact locations—supply chain efficiency is of the utmost importance. An optimized supply chain ensures that products make it to their destination on time, improving outcomes for patients and bringing more value to the customer.
Fortunately for suppliers, optimizing logistics also reduces costs. For example, by apportioning individual products in smarter, more optimal ways, suppliers may be able to cut back on the total number of warehouses used—and avoid sitting on obsolete or excess inventory. Plus, by engaging with a carrier-agnostic logistical partner like MCG, suppliers can achieve reduced shipping costs through more informed negotiations.
Capturing Emerging Markets
Most medical suppliers are moving into emerging, global markets—the industry’s next frontier. Nations like Russia, China, and India encompass some of the world’s largest and fastest-growing economies—not to mention billions of people who need access to affordable medical equipment.
To make this possible, suppliers must harness the power of a modern, robust supply chain. Proper logistics means suppliers can account for international demand, while eliminating unnecessary middle men, like international distributors. The end result? More efficient, faster deliveries and wider profit margins.
Meeting Regulatory Requirements
Across the globe, governments have enacted more and more regulatory requirements to ensure the safety of their citizens—and nowhere is this more apparent than in the healthcare sector. Especially for suppliers looking to grow business in emerging international markets, these regulations—which may vary even within different areas of one country—can cause a mess of headaches and dissatisfied customers. A smoother supply chain can greatly simplify compliance, allowing businesses to focus on more pressing strategic decisions.
For medical suppliers and other players in the healthcare industry, a modern, optimized supply chain doesn’t just mean better margins and improved outcomes for patients—it also provides the breathing room necessary for growth.
At MCG Logistics, we can help you turn your supply chain into a competitive advantage. Contact us today to learn more.