GE Healthcare Trusts LTBs to PartstatBy Michael Stratton
GE Healthcare has now joined dozens of other prominent industry innovators who have taken advantage of one of Partstat’s Last Time Buy Solutions.
Radiology. Ultrasound. Mammography. Computed Tomography. These are just a few of the medical disciplines GE Healthcare continues to supply with innovative products critical to a patient’s diagnosis, treatment, and recovery.
But every innovation comes with a price.
New equipment can offer doctors the latest tools and technologies in their field, but many healthcare institutions during these transitional times simply do not have the time or profit margins required to invest in them.
For the sake of their patients – and their businesses – doctors and their staff prefer to rely on technology they are familiar with when the time comes to invest in new equipment. This is why companies like GE Healthcare continue to manufacture products 10, 15, even 30 years beyond their original design date.
To manufacture products with a 30-year lifecycle, OEMs also require products’ critical components to be available from OCMs for at least that same length of time. Of course, this expectation is impossible – and as a component fades into obsolescence, OEMs such as GE Healthcare must perform a Last Time Buy (LTB) within a short time window set by a Product Change Notification (PCN), which may or not be sent.
Failing that, OEMs are then left with two choices: invest millions in a redesign of the product, or search the open marketplace for a discontinued part that may now cost several times its original price.
Some OEMs will have to worry about this, but not GE Healthcare.
With the ability to purchase, warehouse, and distribute LTB inventory anywhere in the world, Partstat Last Time Buy Solutions can help companies such as GE save up to 10 years of working capital instantly.
In today’s fast-paced market, however, managing LTBs alone isn’t enough to help maintain a manufacturer’s narrow profit margin. Partstat proudly describes itself as a leader in “the new supply chain,” and that means far more than Last Time Buy Solutions. To truly stay ahead of obsolescence, a supply chain partner must be diligent through all phases of the supply chain cycle.
This is what Partstat does best.
We are glad to welcome GE Healthcare into the Partstat family, and we look forward to helping them provide life-saving products for years to come.