Your “trunk stock” is mobile – trunk stock inventory management should be too
Merchandise that a sales rep carries around for demonstration or immediate sales is called “trunk stock”. A rep might carry this inventory in rolling cases, or even in an actual trunk. Inventory that a life sciences sales rep keeps on hand is referred to as trunk stock.
Medical device manufacturers have to contend with managing a complicated and potentially costly type of trunk stock inventory. For example, during implant surgeries, physicians typically use only 25 percent or less of the products provided in the implant surgical kit. The idea is that the practitioner is totally prepared for unexpected events – this is a good thing. The problem for the manufacturer comes when unused items must somehow be returned to active inventory.
Typically, unused surgical kit products must be sent to a centralized facility to be cleansed, sanitized, reassembled as necessary, repackaged and eventually re-stocked. This kind of trunk stock is actually a time intensive consignment inventory management exercise with plenty of opportunity for errors.
Poor management of trunk stock consignment inventory results in higher costs for both suppliers and their customers:
- Suppliers – lack of visibility into product or component consumption; labor intensive manual processes; ineffective consignment management
- Customers – overstocking; expirations and write-offs; missed charge capture and clinical documentation
Better consignment inventory management – anywhere, on any device That’s why Strategic provides a mobile-enabled QAD bolt-on application that makes trunk stock and consignment processes automatic, simple and accurate.
Strategic’s “Mobile Trunk Stock App” automates all the tedious, error-prone manual processes associated with ordering, transferring, shipping, and replenishing consignment inventory. The module is designed for mobility, ensuring users high performance and real-time data access anywhere on any device. The Mobile Trunk Stock App can be deployed in the field on mobile devices or in the office in a client/server model.
The Mobile Trunk Stock App provides visibility into and management of all consignment inventory, including leased and loaner inventory. The application seamlessly moves inventory from warehouse to consignment trunk stock location and creates neutral financial transactions for trunk stock sales orders.
Automate consignment replenishment:
- The replacement order for the item being billed to the designated consignment location is created automatically.
- During the billing process the user can identify if the inventory should be auto replaced. If auto replacement is selected, the module automatically creates the replenishment order for the proper consignment location.
You can easily customize trunk stock shipment processing:
- Shipping can process consignment orders as normal shipments — no second process for consignment is needed.
- The module processes receipts into representative/hospital locations for consignment sales orders only; it automatically creates the location if one does not exist.
Strategic’s Mobile Trunk Stock App meshes seamlessly with your QAD ERP, and utilizes standard QAD reports and browses. It’s so quick to implement, you can be up and running, making the most of consignment inventory management, in just days.