4 ways medtech supply chains have changed due to COVID-19
By Hebri Nandita, Mallya Megha, Maheshwari Nidhi Nagrath and Lexie Code
COVID-19 exposed significant vulnerabilities within established medtech supply chains
Healthcare systems were inadequately prepared for the magnitude and duration of the disruptions and shortages brought on by COVID-19, particularly because inventory management tended to be periodic and not on a real-time basis.
Additionally, medtech supply chains had minimal geographical and supplier diversification, often with an overreliance on a single country (usually China) and on a single supplier.
Unlike in other industries, medtech supply chains have traditionally been less inclined towards digital supply networks and automated processes such as demand analysis, which made them particularly vulnerable to any sudden changes in demand or disruptions to global trade