CoronaVirus has caused massive economic and social disruption across the globe. Governments of many countries declared an emergency and imposed nationwide lockdowns. It was done as an attempt to contain the spread of the deadly virus. Amidst this crisis, the medical supply chain of the world also got impacted severely. Healthcare services and medical centers are witnessing an unprecedented shortage of medical supplies. International borders have been sealed and business restrictions have been imposed. There are widespread service disruptions among every section of the society. The key finding is that health services have been either partially or fully disrupted.
Considering the strong transmission of COVID-19, the outbreak duration may be much longer than expected. Due to a severe demand and supply mismatch, there is a shortage of medical resources in the front line. The whole supply-chain is facing issues. While only the diagnosed patients who are in serious health conditions are being hospitalized, this has led to more trouble. Respiratory support devices whether we talk about life-support machines, oxygen generators, or monitors. They are the primary medical devices that are the most affected. Right from the diagnosis stage to cure of the disease. It calls for a greater need for more instruments. Diagnostic kit, antiviral medical products, and even life-support devices are needed.
In order to restore the situation and maintain an equilibrium between supply and demand. The government has revised the norms. They have incorporated quicker approval procedures. It is for both registrations as well as the application of medical devices. This is being done on an urgent basis amidst this ongoing pandemic. Authorities have also given the flexibility and offered relaxation. They are being asked to approach small scale enterprises to procure the devices on behalf of many large enterprises. What it means is that they can procure the devices without having to wait for authorities to approve.
Medical Suppliers Role and Chain
As per reports, around 60 countries have issued entry control measures for China. Thus, the supply chain disruption of industrial materials is impacting overseas customers. There is a severe shortage of essential medical supplies such as drugs, life-support machines, masks and PPE kits. The existing medical devices are not enough to treat patients. Because the number of infected people is rising exponentially. Increasing demand caused by this massive epidemic is a challenge. Medical Suppliers have to come forward and take initiatives to tackle the situation. This is an opportunity for all the suppliers to ease the process and help meet the growing demand.
There is an urgent need for a flexible supply chain which can cut the cost and improve cash flows with some increase to inventory turn. Once the pandemic subsides and the global economy starts to function, there will be good signs. It will help boost the cost supply and inventory levels. Operating as the routine has been disturbed due to these unforeseen circumstances. This includes the commute, logistics, last-mile delivery, and also managing vendor supply chain.
Here are some of the important things to keep in mind while prioritising supply:
Planning is required- The procurement teams should ensure they align with the business at this crucial time of the crisis. Their efforts should be reciprocated by the suppliers too. There needs to be crisp and strategic planning.
Partnership/Collaboration- In times of such crises there is a need for strong supply chain relations. Teams should form a great and positive bond. It is for both the parties so they can work together in such conditions.It would result in harmonised results.
Performance- Not only focus on pricing but also the quality and delivery timelines by the suppliers. You must monitor and measure the risk and ensure compliance is met.
Process- It should be cost-effective for both parties to increase operational efficiency. Look at ways to streamline the production lines.
BeatMed Role as a Medical Supply and COVID-19
At BeatMed we always lay a strong focus on vendor and inventory management systems and have an approved vendor pool. We have good availability of affected items. We are one of the most trusted Medical Equipment Suppliers for all our clients at such a crucial juncture. BeatMed ensured minimal impact amid the ongoing situation. Whether it is wholesale medical supplies & Equipment or catering to the individual requirements of the clients, we have simplified and streamlined our operation to a great extent. Our online marketplace is one of the most user-friendly and easy to operate portals. If you are looking for a one-step solution then you are in the right place.