Let's talk about your project today

Capturing a new value segment in the medical device market.

MEDICAL DIAGNOSTIC EQUIPMENT COMPANY // Hematology Testing System

After several years on the market, the client’s hematology testing system was facing competition from counterfeit consumable manufacturers. By working with Logic PD to implement a digital strategy and solution, the client was able to address real user needs and create a digital consumables management offering to not only increase sales but also customer satisfaction.

CHALLENGE

The client’s hematology testing system is one of the most advanced on the market, creating efficiencies with fast test times and easy to read results. The test works by placing a test tube sample into the testing system. When the sample mixes with the reagents within the test tube, the testing system is able to determine the results. However, after several years on the market, competitors began making test tubes compatible with the client’s testing system, reducing consumable sales significantly. The client, a leading medical testing device manufacturer, came to Logic PD in need of a strategy and solution to address this competitive threat and regain market share of their testing consumables.

SOLUTION

The client began engagement with the Logic PD Analytics and Research team to build a strategy to boost consumables sales within their market during the Roadmapping Phase. The team began by identifying competitors and surveying customers to determine what factors influenced their purchase decision. While price was a large driver, the results of the research showed that the client’s supply chain was slow and this delayed service often caused the clinics to run out of supply all together. Customers were then turning to competitors’ counterfeit products to resupply their stock at a faster rate. By providing a proactive inventory tracking service, the team knew they could therefore increase consumable sales and gain back lost consumable market share.

A digital strategy was devised to help the client track customer consumable inventory. The client already had the expertise to extract usage data from their customers’ testing systems and had already been doing so for years. Logic PD found a new use for the data being collected to create a service-based offering that automatically resupplies consumables inventory for customers when they reach a set threshold.

Logic PD worked closely with the client to create a completely customized digital platform solution to support the new consumables management function while leveraging the internal systems they already had in place. An Analysis of Alternatives (AoA) helped the team to determine the best architecture to support the client’s existing devices and users. The client chose Logic PD’s HyperSaaS™ platform for the ability to leverage existing systems and get up and running quickly and efficiently.

In the client’s solution, Logic PD’s platform would store and analyze the usage data from the client’s testing systems as well as plug into the client’s ERP for customer and product inventory and ordering information. Business rules were created as a result of the analytics so a restock shipment of consumables would be triggered after an inventory threshold was reached. Logic PD worked to ensure that all pieces of the digital solution were linked together for seamless communication between the testing systems, client’s existing business systems and Logic PD’s platform components including analytics and customer support.

RESULTS

By implementing a digital strategy to address the competitive threat, the client was able to expand their products business into a product-with-service offering by setting up a digital consumables management system for customers. Through this solution, the client was able to:

  • Increase consumable sales through automated restocking of their testing tube consumable.
  • Deepen customer engagement by increasing communication touch points through supply restock service.
  • Boost customer satisfaction as heavy users including labs and hospitals are never waiting for a consumables shipment or run out of valuable inventory.
  • Provide data to analyze usage trends to improve the product and predict new areas of new product development.
  • Targeted marketing opportunities to increase usage in high volume customers and spur growth in lower volume customers.

CUSTOMER PROFILE

The customer is a leader in glucose monitoring and hematology systems for use in lab, hospital and clinic settings.

Share

Contact Logic PD and get started today.

We help deliver innovative solutions that conquer today’s complex and connected product challenges and optimize your market potential.

Get our latest insights sent straight to your email.