Smart Molding International 1-2023

8 smart_molding international 1/2023 newsfeed What to expect with the MedTech supply chain in 2023 Throughout 2023, the MedTech supply chain is likely to experience dramatic changes. Companies are moving away from traditional methods of inventory management, and shifting tomore advanced, automated solutions. What are some of the supply chain trends we are likely to see in 2023? Here are a few: Cloud-Based Supply Chain Solutions for MedTech One of the changes that will be most welcomed by MedTech companies will be the use of cloud-based supply chain solutions. With cloud-based technology, MedTech companies can obtain greater visibility into customer needs and better manage stock levels, reducing their costs. Additionally, cloud-based solutions are more secure and offer a greater range of features than traditional alternatives, allowing healthcare companies to better serve their customers. More Automation The advancements in the cloud will allow healthcare businesses to move away frommanual processes and focus more on automation. Automation streamlines procurement processes, reduces manual errors, and makes inventory management procedures more efficient. Additionally, automated systems are capable of collecting, processing, and analyzing information in real time, eliminating the need for labor-intensive record-keeping. AI and New MedTech Technologies To ensure the MedTech supply chain is prepared for the changes in the future, companies must consider investing in new technology. This includes AI-enabled technologies such as predictive analytics, which can provide insights into supply and demand. Predictive analytics can assist companies in better managing their inventory and staying ahead of customer trends. AI-enabled technologies such as machine learning, natural language processing, and computer vision can help companies automate processes and accelerate decision making related to supply chain operations. MedTech Data Management Finally, as companies embrace MedTech solutions, they must be able to manage the data they produce. This means companies need to be able to store, process, and analyze data to make better decisions. Furthermore, more stringent regulations are likely to be enforced to guarantee patient safety and privacy. As a result, organizations will need to ensure their systems are compliant with these new standards. Big-data tools such as Hadoop can help companies process the vast amounts of data they generate, enabling them to make data-driven decisions. The continued improvements in the MedTech supply chain over the next few years means companies must invest in new technology and focus on automation, cybersecurity, and data management solutions to properly prepare for the changes. This will enable them to access greater insights, save money, and increase the efficiency of their operations. With these investments, the MedTech supply chain is expected to evolve significantly in the coming years. Flexan is an established leader in the MedTech field, providing trusted manufacturing solutions for custom components and devices. Its commitment to the supply chain ensures that its global customer base can create innovative products that can revolutionize the markets they are in, while being confident in the reliability of their supply. Flexan www.flexan.com Picture source: Flexan