Inventory Tracking Due to Stock Surplus
A leading global provider of high-quality, orthopaedic 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 with an extensive distribution network.
REQUIREMENT
An orthopaedic device provider had encountered stock 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 orthopaedic 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 orthopaedic 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
- Stock 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 orthopaedic 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 orthopaedic device provider by identifying losses and variances