+91-9519066910
  • My Account
  • solution

    Business

    Medical Devices Company Assignment Help

    Rating:
    Medical Devices Company Assignment Help


    THE MEDICAL DEVICES COMPANY 

    Executive Summary

    The report mainly highlights about the MDC which is a multinational company that has been focused on improving the quality of their products.  Due to the lack of use of modern technology, the company cannot be able to provide a good amount of product and fails to satisfy the customer. The main issue that the company has been facing is the lack of providing a good product to the consumer, whereas the supply chain is not at all beneficial. Hence to overcome this situation business logistics and production logistics is very necessary to overcome all the issues. Providing medical device according to the demand of the customer helps in meeting customer demands whereas improving the sales rate and brand equity.

    1 Introduction 

    A logistic strategy helps a company to distribute good according to market demand, supplying goods according to market demands helps a company to increase the sales rate. A logistic strategy helps a company to increase its performance in the market field whereas helps in multiplying the knowledge involved in improving the delivery process.  Medical Device Company with good logistics management can able to improve its distribution process change.  A company with a good supply chain management can bale to improve its market share, whereas this help in meeting the demands of the customer. This report has been focused on improving the performance rate of the distribution chain of supply chain logistics.

    2. Company Information and Analysis 

    2.1 Company Background

    Medical Device Company (MDC) usually manufactures medical devices used by the surgeons. The company has been focused on improving its sales rate from the market in Europe. According to the World Health Organisation, more than 9.3% of the annual GDP is spent on health care. Countries such as Spain, Italy, and Germany usually spent more than 7% of their GDP in the health care sector (Gov. UK, 2019). Medical Device Company can able to get a handsome amount of profit from the European Market due to high invest by the countries in the healthcare sector. The company provides a different product, but due to a lack of supply chain management, the company has been fall short in the competitive market. In the modern era, the advancement of technology often affects the overall progress of the MDC. Competitive Companies often use advanced technologies to increase the market range and MDC lack in this part due to less use of advancing technologies.

    2.2 Analysis of issue faced by MDC

    After the exit of Britain from the European Union, there is a new law applicable for conduction of import and export. The company has been suffering a setback due to strong export rules in Britain; the company has 15 warehouse acts as a hub due to strong export rules the company cannot be able to collect a huge amount of profit from Britain market. MDC research and the innovative department have been facing an issue with the export policies of the European Union. The research and development department of the MDC has been situated in Ireland and Poland. In Europe, Britain is the only country to contribute more than 11.5% of the total GDP in the health sector (Eurostat, 2019). MDC cannot be able to gain a good sales rate from the Britain market due to strong export policies and lack of supply chain management. On the other hand, France spends about 11% of GDP in the health care sector (Eurostat, 2019). Hence MDC can able to collect a handsome amount of profit. According to Geographic Location, the time taken to supply medical devices is too high as this helps the local companies of France to gain an upper hand advantage on meeting the local demands. {Refer to Appendix 1}

                                  Figure 1: Analysis of issue faced by MDC

                                                     (Sources: Wang et al. 2016)

    In the year 2018, GSK healthcare a local company of France had collected a revenue of 4 billion, and the profit margin of the company have been increased by 2%, when compared with sales report of 2017.  Hence it can be stated that the company has been lacking in collecting good profit margin from the European market due to improper supply chain management. The research and development centre of the company is located in the far east and the far north of Europe. Hence it can be stated that good supply chain management can help MDC to gain a good market share and market profit. On the contrary, the company has 15 warehouses mainly used for the hub, and from there the products are supplied to 40 warehouses, and from there, the medical device has been distributed to various sectors. Wang and Priestley (2017) provided an important suggestion stating that a wide range of supply chain can help a company to increase the profit margin, whereas this can also affect the workflow.  

    MDC has a good supply chain management, but due to lack of proper use of advanced technologies, the company cannot able to maintain a proper workflow about the company's distribution channel.  In some extent, the biggest issue that the company has been facing is the lack of meeting the customer demands. The company had been focused on improving the overall sales rate, mitigating the customer demands cannot help the company to maximise sales rate. This issue highlight two option is lack of facility in the innovation centre, and the other one is a lack of skilled employees. Lack of skilled employees often degrades the product manufacture by the company. Most of the patient has complained about the product and degrade the quality of the product. Wang et al. (2016) commented the main motive that can help a company performing in the healthcare sector is to provide one of the beneficial products. Providing a beneficial product helps the doctor to conduct surgery in the safest way. Irrespective of that company supplies good beneficial medical product can able to improve the service, whereas the sales rate of the company can also be improved. Due to minimise the use of technology, the company cannot be able to manufacture products that help the company to increase the supply chain management.

    3 Theories of Logistic 

    A company with good supply chain management does not mean that a company can able to maintain the workflow of the organisation. Supply chain management helps MDC to implement process and done planning and then supply products according to demands. Due to less use of technology, the company cannot be able to meet the demands of the customer, affecting the overall sales rate of the company. In order to improve this, the company should focus on distribution strategy and distribution networks. Providing medical device according to the demand of the customer helps in meeting customer demands whereas improving the sales rate and brand equity. Hsu et al. (2016) provide an opinion stated that that company with a strong supply chain could not be able to gain maximise profit from the market. The company with a good distribution strategy and network configuration can able to improve the overall profitable rate.

    Management theory: 

    Management theory helps the organisation to increase the overall supply chain, whereas managing and controlling the supply chain is the main task for an organisation. A company with good distribution centre can able to supply the products and maintain a good amount of workflow. On the other hand, the company with a good strategy can able to improve the overall process of managing the supply chain most efficiently (Chin et al. 2015). Management theory provides a good configuration of the networks and strategy. MDC has been facing the issue of supplying the products, whereas the company has a huge number of warehouses. A company with good supply chain management can able to improve the overall progress, whereas this helps in meeting the demands of the customers.

    Management theory helps the company to increase the facility of the distribution centre. On the other hand, the company lacks in using advanced technologies. Installing new technologies can help the company to maintain the supply chain networks in the most distributive way. Management theory identifies the correct demands of product and supplies them according to needs (Jahre, 2017). MDC can be very beneficial as this can help in improving the production facilities. A company with a good warehouse facility can able to get a good profit margin, but due to the lack of use of new generation technology, MDC has been locked in a competitive market. This management strategy will help MDC to choose a correct strategy to boost up the supply chain management; in another way, this management theory helps in improving the logistics management. Direct shipment, cross-docking and decentralised way is some of the beneficial parts of the management theory.  

    Pull and push strategy also help in improving the supply chain management whereas, this is a part of a logistic way of managing the product. Hence it can be stated that a company with good strategic management can able to improve the sales rate by meeting the demands of customers. For example, this management theory helps MDC to optimise the distribution centre by installing new advanced technologies and meet the demands of the customers. This management theory will mitigate some of the issues with supply chain management; a joint venture can help MDC to gain more profit from the market of Europe. Strategic management helps an organisation to set up a perfect partnership with the suppliers and distributors (Stevens and Johnson, 2016). Hence it can be stated that organisations focus on improving the supply chain management should focus on adopting the management theory. 

                                                

                                             Figure 2: Theories of Logistic

                                            (Source: Gunasekaran et al. 2017)

    Medical Logistic Theory:

    This process helps a company to supply the demands of medical supplies, supplying these supplies to support the doctors and nurses to provide perfect health care. Product designing coordinating helps in minimising the issue in supply chain management. Supply strategy helps an organisation to minimise the supply strategy, whereas this help in mitigating all the issue. Medial logistic theory helps in improving the logistic supply chain, whereas strategic partnership also improved. Organisational strategy aligning with the supply chain strategy is the key benefit of the medical logistic theory. For example, MDC has been facing issues with supply chain management; the company has been effectively getting a setback from the customer due to poor supply chain management. On the contrary useless of the advanced technologies is the key factor of not supporting the innovation. Gunasekaran et al. (2017) commented that scheduling, planning and production decisions are a key step to increase the overall success rate in supply chain management. Medical logistic theory help in improving the tactical steps, such as it helps MDC to focus more on innovation to meet the demands of the customer. Medical Logistic theory help in improving the transportation strategy and product scheduling (Choi et al. 2016). Medical logistic theory helps MDC to focus on a day to day operation and conduct planning according to distribution. Improving Production scheduling is the key factor of MDC; improving this can help the company to gain a good amount of profit in the sales rate. 

    4. Recommendation of Logistic supply for The Medical Device Company. 

    MDC has been facing various challenges; some of the key issues has been highlighted is the lack of using advanced technologies. As influenced by Sanchez Rodrigues et al. (2015) modern-day instruments not only help a company to generate good quality of the product but also increase the quality of the product. Maintaining the quality of the product is essential for MDC to meet the demands of the customers. The company has two research and development department; geographical location highlights that they are in the north and east region of Europe. Supplying products across all over Europe is technically an issue for the company, mitigating this issue will not only helps a company to increase the overall performance but also help in raising the sales rate.  

    MDS should focus on establishing a new innovation centre and new research development centre in the west part of Europe as this helps the company to meet the demands of the customer. Making a new centre in the west part of Europe helps the company to provide Medical supplies in France and Spain in quick time. Both the country invest more than 7% of GDP on health care (Gov. UK, 2019) as this step helps MDS to increase the profit margin and sales rate from west Europe. MDS should focus on using advanced technologies; investing more on technologies helps the company to provide some good innovative medical device that helps the doctor in the long term. As influenced by Saenz et al. (2015) commented CRM strategy could help the company to understand the demands of the customer whereas this helps the company to increase the overall sales rate and the profit margin. A company with a good capacity of understanding customer demands can able to make products that meet the demands of the customers. 

    Employing more talented and skilled employees can help a company to get more benefits, meeting customer demands help in mitigating the issue faced by the company. Logistics management helps MDC to improve supply chain management, whereas the logistic management main function is to focus on innovation. Innovation is the key factor that helps the company to meet the demands of the customer. MDC should focus on implementing logistics management in their system as this helps the company to meet the customer's requirement.  Logistic management strategy can help MDC to improve business logistics and production logistics. 

                                          

             Figure 3: Recommendation of Logistic supply for The Medical Device Company

                              (Source: Wang and Priestley, 2017)

    Business Logistic:

    Business logistics can help MDC to minimise the issue in supply chain management and helps the company to increase its production level. A company with a good supply chain management can able to meet the demands of the customers. For example, Primark, the largest retailer in Europe, has focused on improving supply chain management, and for this, the company has tied up with a local company in Australia. This strategy helps the company to increase its market value in Australia, whereas this strategy helps the company to gain a good amount of profit from the Australian economy. Business logistics will help MDC in a different way; this strategy will simultaneously focus on internal and external issues. The internal issue that has been highlighted is the lack of innovation and lack of implication of the latest technology. Minimizing these issues help MDC to raise the bar of supply product, whereas the products that will be supplied will be of good quality. As influenced by Wang and Priestley (2017) to survive in a competitive economy, a company should focus on continuous innovation.  Meaningful innovation can help a company to increase brand equity by meeting the customer sales rate. The main benefit that business logistic can provide to MDC is to look at the inventory management, warehousing planning and organising. 

    Production logistic:

    Production logistics can help MDC to improve the quality of products, whereas this step will help MDC to install new technology in the warehouse. Lack of innovation is an issue; production logistic can help the company to mitigate the issue.  The company installed modern technology can able to improve the overall product cycle; production logistic can help MDC to achieve the customer response and help in increasing capital efficiency. Production logistics helps the company to install new technologies to increase the process of innovation, whereas this strategy can help the company to manufacture the right product. Production logistics can help MDC to implement a new plant in another part of Europe to increase the overall supply chain.

    5. Conclusions 

    MDC manufactures surgical devices and works in the field of medicine; this company has been facing various issues such as lack of innovation lack of sales rate. Lack of innovation is the major issue affecting the overall company sales as the company cannot able to meet the demands of the customer. Improving the logistics supply chain help the company to improve supply chain management. On the other hand, mitigating the main issue can help the company to meet the demands of the customers. In conclusion, it can be stated that business logistics and production logistics are key factors that can help MDC to improve the overall performance.

    business casual, facebook business manager, spectrum business, business casual women, cannabis business social network business casual men, investors business daily, yelp for business, business analyst, , business for sale, office depot business, cox business, paypal business account, vonage business login, staples business cards,