Improved global supply chain management is becoming crucial to an industry squeezed by increased regulation and higher taxes, a panel of medical device experts said recently.
The panel discussion, one of the keynote events of the LifeScience Alley 2013 Conference in Minneapolis, was an exploration of how some of the industry’s biggest brands are approaching the challenge of managing supply chains on a global basis.
The panel was made up of officials from Medtronic, 3M, Mayo Clinic, and FedEx, along with moderator Shaye Mandle, executive vice president and chief operating officer of LifeScience Alley.
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Panelists agreed that a global reach has become essential to growth in the medical device industry. “Ninety-five percent of the world’s population is outside the United States,” said Randy Berger, managing director of FedEx Healthcare Solutions. “So we need to make sure we connect with people all over the world.”
Aaron Jorgensen, senior director of supply chain logistics for Medtronic, said his company is moving rapidly away from its former U.S.-centric focus. With the change, he says, supply chain management has become a priority.
“Sometimes the logistics folks in a company are not looked at as a core component,” he said. “That is not the case at Medtronic.”
He noted that every dollar saved in the supply chain can be devoted to research and development.
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Mandle joked that FedEx executive Berger smiled every time someone on stage said, “right place, at the right time,” but Berger was quick to emphasize FedEx’s commitment to the medical device field.
When asked if FedEx considered itself a life science company, Berger said, “We feel we’re an enabler. We create access to patients around the world, and we spend a lot of time making sure that we can get goods and services to the patient, to the hospital. Our folks recognize that this is more than just moving t-shirts and tennis shoes.”
