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4 min reading time
Over the years, a number of trucking, shipping, and delivery companies have asked me how they can get a foot in the door of medical device companies.
And this week a group member asked, “What do the top medical device companies do to warehouse their inventory? Is it in-house or outsourced? What are key drivers that are considered in adopting a warehouse strategy?”
I asked group member Michelle Kingsbury from Layer Saver (she has frames that allow for double stacking) and she advised, “Many medical device companies use third-party logistics (3PL) companies to warehouse their inventory.” A pain point for device companies is shipping their product in half-empty trucks because historically there’s been no way to stack one pallet on top of another. (Her patented frames solve that.)
Michelle added, “It really is a function of what the device company’s strength is. For example, many companies hire contract manufacturing firms to produce, warehouse, and ship product.”
“And as firms consolidate, they inherit 3PL arrangements. At some point, they have to consolidate operations around a select few 3PLs or bring everything in house, which is less likely.”
We have many transportation and logistics experts in the group so I hope this will be a robust conversation.
How do you decide whether to get a facility large enough to store your own product versus outsourcing?
If it’s a function of how much volume you do, what is the tipping point to move to a third-party logistics firm?
And are there companies who do 100 percent of their volume shipping directly to stocking distributors?
Thanks for your inputs and for more on Michelle’s product, see http://layersaver.com
UDI for the European Union
As the US races ahead with the UDI regime, the EU is still waiting for clarification on the expected requirements and what manufacturers need to do in order to comply. The release of the Medical Device Regulation (MDR) has provided some insight however, uncertainty still remains regarding the European UDI landscape.
Pharma IQ spoke to industry experts regarding the key hurdles for which the market should brace. The majority agreed on data management with the EU UDI regime as the likely outcome.
Here is a free ebook on the Data Complexities with the EU UDI Regime: http://medgroup.biz/EU-UDI
The eBook will help you make methodolical and evidence based approaches to avoid wasting resources on implementing the wrong plan, with insight into:
Are CLINICAL DATA valid if not obtained according to local legislation?
NRTL sign on a medical device in the USA
Does a medical device need a medical grade computer?
Medical device innovation comes from small companies?
Electronic IFU : no additional cost for printed IFU?
Is my Software a Medical Device?
Who do you reach for a translation task?
Make it a great week.
P.S. Our free webinar on patents is today. See http://medgroup.biz/check-patent to register or to get the replay and slides.
Michelle Springhorn Kingsbury
Where it can get very interesting is with med device startups. You have created an innovative product and you’ve hired a VP of sales to generate revenue but now you have to figure out how you can get your devices out into the field. Do you warehouse and distribute the devices yourself? If so, you’ll need, at a minimum:
James (Jim) Dent
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