Insights for FDA Regulated and HIPAA Compliant Organizations
The Right Way to Look for a Third-Party Logistics Provider
For diagnostic testing and medical device companies, global business plays a critical role in delivering life-saving and life-enhancing therapies for an exponentially increasing number of patients daily.
Lately, third-party logistics providers (3PL's) are focusing on ways in which they can deliver optimal service to their customers. This involves providing financial feedback, strategy development, inventory provision and other expertise-focused endeavours.
However, too many manufacturers are prioritizing only the costs associated with shipping rates.
While distribution expenses shouldn't be ignored, they must not be regarded as "make it or break it" factors when choosing a 3PL provider.
Jack Biddick, Vice President of Production & Operations at TAGmedica, noted that a fair number of shippers are still looking for supply chain experts that offer better prices. Jack has over 20 years of progressive management experience solving significant strategic and managerial tasks for a variety of businesses. Working in both manufacturing and sales at Stanley Works before being appointed Vice President of the Industrial Business Unit at Stanley Bostitch, he had direct P&L responsibilities for over $200 million in sales.
"Thankfully, manufacturers aren't ignoring the need for comprehensive services. A significant component of this provision involves finding 3PL's that are using up-to-date technologies that help expedite distribution initiatives", according to Jack.
Jack advises that companies looking for way to deliver optimal value to their customers should consider the following critical factors:
- Does your 3 PL provider understand your business?
- Do they take the time to comprehend your logistic supply chain management strategy?
- Do they understand what you are trying to accomplish and recognize what is important to you?
- What is their supply chain management strategy? Does it fit with yours?
- Have they built metrics around those key aspects of your business?
- Do they have the necessary experience and results with similar companies?
- Do they understand the quality and regulatory needs of your business?
- Do they act like a key consultant?
TAGmedica has embraced new technologies that allow their customers to access resources online, which is a huge convenience, and can also be leveraged anywhere and everywhere in our 24/7 global business environment.