Refurbishing medical devices to recapture value
Medical product repurposing is the process by which reusable or existing medical products can be redeployed for the purpose of recapturing value. Product repurposing mitigates product obsolescence and expiry and can unlock hidden profits.
Profitability in the medical device space is negatively impacted by ineffective global postponement models, inadequate reverse logistics, and missed product repurposing opportunities. These inefficiencies can result in excess inventories replete with obsolete and distressed products. One way medical device manufacturers can reverse these losses is to incorporate product repurposing into their supply chain strategy.
RRD, with our worldwide infrastructure, regulatory and quality controls, and broad suite of capabilities is ideally positioned to help medical device manufacturers unlock hidden profits through reverse logistics, product handling, and product repurposing. Our experience with packaging, labeling and product reconfiguration allow for best in class inventory management. RRD’s reverse logistics enable product to be returned back to RRD sites whilst maintaining full product track and trace. Products can be screened to identify disposition options. RRD’s postponement and pack-out solutions help companies distribute repurposed medical products.
Key services include:
- Material sourcing, planning and procurement
- Product configuration, assembly and kitting
- Order fulfillment and distribution
- Forward and reverse logistics
- Full product track and traceability by lot and batch.
- Regulatory compliance
- FDA registered (Class I-III) and cGMP/QSR compliant
- ISO13485 accredited facilities in North America, Europe and Asia
- 21 CFR part 11 compliant, MES with full eDHR capability
- ISO 14664-1 Class 8 cleanroom facilities.
The benefits of allowing distressed product to be repurposed to stock for use are extensive. Improving order fulfillment, increasing inventory turnover and reducing obsolete stock and cost.
Other benefits include:
- Reduce and balance global inventory
- Assist with stop ships and recalls
- Reduce inventory exposure and reserves for expiry
- Country specific product rebranding - postponement, addendum labeling, unique packaging & product offerings
- Re-launch rebranded product including in emerging markets
- Brand protection
- Disposal of unusable products
- Decrease cycle time for product availability
- Improve flexibility in your logistics capabilities
- Reduce working capital.
Benefits of Working with RRD
RRD’s core competencies, strategic direction and vertically integrated services can help to create a unique competitive advantage with the following benefits:
- Reduced time-to-market for products with a single interface and global reach
- Reduced total supply chain cost from design through to final product delivery
- Aid in revenue generation with attractive product packaging
- Streamline global processes with enhanced planning and forecasting.
Supply Chain Solutions
RRD Supply Chain Solutions is a recognized global supply chain and packaging provider that delivers value-add solutions to multiple sectors. As part of RRD (NYSE:RRD), a broad suite of capabilities is offered including packaging design and production, sourcing, kitting and fulfillment services. Solution design, systems, processes and precise project execution can help customers to constantly improve their market share, profits and speed-to-market.