Inventory Tracking Due to Stock Surplus
A leading global provider of high-quality, orthopedic devices, with a broad range of products used for rehabilitation, pain management and physical therapy required the support of RGIS. The customer develops, manufactures and distributes a broad range of surgical reconstructive implant products with the main focus on quality, innovation and customer service within an extensive distribution network.
REQUIREMENT
An orthopedic device provider had encountered inventory inconsistencies, issues with shrinkage and stock surplus, so needed to know where the product was physically located during the sales cycle. Inventory tracking issues reduced product availability for customers, and increased operational costs.
The orthopedic device provider required RGIS to provide the following:
- Experience within a healthcare environment
- To identify where each product was physically located during the sales cycle
- Inventory to include the high volume of stock that were deployed in the field
and constantly in motion
SOLUTION
The orthopedic device provider partnered with RGIS to complete the inventory tracking project, and provided the following:
- The RGIS scheduling team coordinated events directly with field representatives
- Inventory counts were completed by experienced RGIS auditors at each of the field representatives’ locations
- Any variances with expected stock numbers were reconciled on-site
- Reporting was completed by location and by product item
RESULTS
The orthopedic device provider found by outsourcing the inventory tracking project to RGIS, the following results were achieved:
- Reduced the amount of reconciliation time needed by the customer’s home office
- Large product surplus were now quickly identified
- High and low volume areas can be calculated easily
- RGIS continue to support the orthopedic device provider by identifying losses and variances