Field Inventory Management

Field inventory management expends medical device manufacturers’ valuable resources, resources that might be better used in core functions that lead to development of new products. Millstone Medical Outsourcing provides professional field inventory management services that result in significant savings and enhanced inventory control with little disruption to critical revenue-generating activities. Our experienced, professional auditors are a flexible answer to the need for oversight of product already in the field.

Since 2000, Millstone has deployed teams of field auditors to count product, physically verify goods, and report findings through a customized inventory management system. Additional services include independent distributor evaluation as well as identification, removal, and return of expired or obsolete inventory. The benefits of Millstone’s field inventory management service run the gamut from savings in personnel costs to improved stewardship of field operations to reinforced quality standards.

Case Study

Millstone Medical Outsourcing's customer, a large medical device manufacturer, did not have the resources necessary to audit or handle excess inventory in the field. During the course of Millstone's comprehensive audit, one of the customer's field representatives turned over a trunk full of loose inventory that was not being utilized. Millstone identified, sorted, catalogued, and returned 1,069 implant screws with an estimated value of $150,000. In addition, Millstone recovered 12 instrument and implant trays valued at $5,000-$10,000 per tray. These trays were refurbished and sent to another territory where they would be put to good use. Millstone's field inventory audit helped the company save time, develop transparency in the field, regain the value of existing inventory, and reduce the need for redundant inventory orders.