Global Medical Device Manufacturer Boosts Business Performance While Cutting Costs with NetSuite
Disparate legacy applications and spreadsheets could no longer support the complex business model of fast-growing, global medical device manufacturer P3 Medical—a model that involved the manufacture and assembly of its products, and direct and indirect sales in 40 countries. Manual processes wasted time and money, and poor visibility into inventory (some 4,000 SKUs) and sales orders caused stockouts and slowed deliveries.
Complex Processes Demand Robust System
Customisations, Real-Time Data Enhances Business
P3 Medical implemented NetSuite in five months to manage financials, inventory, reporting and customer support, adding custom fields to track complex sales and distribution processes. Highlights include a customer self-service portal, access to real-time data to alert management to bottlenecks and provide automatic website updates, and role-based dashboards.
Cloud Multiplies Cost Saving
By choosing the cloud over on-premise, P3 Medical saved £75,000, plus £25,000 yearly on administration and maintenance. Process efficiencies abound—month-end close has been reduced from three weeks to two days, and manufacturing costs are down £100,000 annually.
Less Work, More Money
With robust customisation and real-time data, P3 can more accurately predict margins on manufacturing jobs, allowing flexibility in costs. As such, it has increased profits without increasing costs or work effort—streamlined performance that gives it an advantage over much larger competitors.