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Logistics lessons learned from managing pennies to managing thousand dollar bills -BoneChat 39 short

19 Aug 2024 · 1 min

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A logistics expert moved from penny-level cost tracking in one industry to thousand-dollar increments at Stryker, a medical-device company. He drilled down to $100-level visibility and eventually started a company selling operational-cost visibility and standardization for medical-device logistics.

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. And so now we were managing down to fractions of pennies per package. When I got to Stryker and I got into the medical device industry, I was appalled because we were managing $1,000 bills. And so then, you know, over the years I got it down to $100 bills and then I made a company out of it. You know what I mean? You know, now we have visibility of that operational cost. And so that insight, you know, and one of the things we learned, I learned at Stryker is, is standardization, and that's a hard thing to do in the medical device industry, but that's what we've done.