{"id":394,"date":"2020-11-12T09:19:13","date_gmt":"2020-11-12T09:19:13","guid":{"rendered":"https:\/\/supplyframe.com\/?p=394"},"modified":"2022-09-26T11:55:09","modified_gmt":"2022-09-26T10:55:09","slug":"supplyframe-acquires-buymanager-to-expand-european-presence5","status":"publish","type":"post","link":"https:\/\/intelligence.supplyframe.com\/it\/supplyframe-acquires-buymanager-to-expand-european-presence5\/","title":{"rendered":"Supplyframe Study Reveals Path to Recovery in the Global Medical Device Supply Chain"},"content":{"rendered":"

PASADENA, Calif.–(BUSINESS WIRE<\/a>)–Supplyframe today announced the results of a medical device supply chain study, which indicates a gradual path to recovery for the MedTech industry over the next 18 months. The Supplyframe study captures a snapshot of where the industry stands, what concerns still remain, and how to best build capacity in response to the global COVID-19 pandemic.<\/p>\n\n\n\n

This research is based on a survey of 200 supply chain professionals who work at medical device companies based in North America. Conceptial Inc. conducted the research on behalf of Supplyframe between August and September of 2020. The survey gathered supply chain professionals\u2019 sentiment during a year in which global value chains have been profoundly impacted by the pandemic, and businesses in healthcare and manufacturing saw increased risk as a result.<\/p>\n\n\n\n

The vast majority (74%) of survey respondents predict a recovery could take a year or longer, while a small percentage believe we are either back at full capacity, or that we will never reach that point again. The study further indicates agility, new forms of collaboration, and data intelligence as critical elements that will help them adapt to the post-pandemic business landscape.<\/p>\n\n\n\n

\u201cWhile the MedTech sector is among the hardest hit by the global pandemic, resulting in historic demand spikes and equipment shortages, it is also characterized by unparalleled innovation and collaboration from people around the world,\u201d said Steve Flagg, CEO of Supplyframe. \u201cWith the pandemic still a reality in our day-to-day lives, it is clear that a new approach to supply chain planning and collaboration is required.\u201d<\/p>\n\n\n\n

The survey identified the top MedTech supply chain risks to be supply shortages (15%), lack of alternatives (12%) and delays in production issues (12%). Increasing the qualifications of multiple suppliers in the product design phase to improve supply chain resiliency was the most frequently cited strategy for mitigating these risks. To prepare for the next pandemic or natural disaster:<\/p>\n\n\n\n