Medical Device Company

Description

MicroVention, a subsidiary of the Japanese Terumo Medical Corporation, develops devices and technologies that treat vascular diseases and associated complications, such as brain aneurysms.
MicroVention has grown rapidly since being founded in 1997 and now sells products in more than 60 countries worldwide.

The company continues to introduce new products including different types of stents, occlusion balloons, polymer coils, and drainage catheters. Based in Tustin, California, MicroVention has expanded its physical footprint to include manufacturing and administrative facilities in Santa Ana and Aliso Viejo, California, and in San Jose, Costa Rica.

Key Challenges

Inadequate technology

MicroVention was operating with inadequate technology and outdated processes for forecasting demand and planning operations.

Sales and operations planners had to hustle through manual processes

Prior to August of that year, when MicroVention implemented Vanguard Predictive Planning, sales and operations planners had to hustle through manual processes for gathering data and preparing forecasts each month.

The company was wasting valuable human resources

The company was not only wasting valuable human resources on the compilation and management of spreadsheets, the output of those spreadsheets was difficult to interpret and unfit for critical planning purposes. The situation had become untenable.

Solution

Automated system that could expand forecast capability

MicroVention needed a unified, enterprise-grade solution that could reduce forecast effort, increase forecast accuracy, and streamline operations to reduce production costs and maximize sales. To do that, they would need an automated system that could expand their forecast capability with best-in-class statistical methods. Management chose Vanguard Software on a trial basis to see how well its business forecasting and planning platform could improve forecast accuracy

All monthly historical data

The software handily captured all monthly historical data and auto-generated unprecedentedly accurate baseline forecasts.

Demand planning and production scheduling improved

Demand planning and production scheduling improved markedly as a result. The company now looks to install Vanguard Software’s Supply Planning module, with the expectation of lowering inventory carrying costs by 15 to 20 percent within six months of implementation.

Key Benifits

90% decrease in labor hours

90% decrease in labor hours dedicated to forecasting preparation

Reduction of forecast production

Reduction of forecast production and reporting cycle from weeks to minutes

28% increase in forecast accuracy

  • 12% improvement in order fulfillment
  • 9% reduction in error-related operating expenses

Customer Feedback

“Our planning process was based on tribal knowledge, contacting customers for their estimated demand forecasts, and compiling those estimates into Excel sheets. Vanguard delivered more than we expected, which was a real eye-opener for many of us.” – Farhan Jama, Sr. Manager for Operational Excellence