Like many manufacturers, Columbia Tech and Cogmedix, providers of design-through-production manufacturing and worldwide fulfillment services for both the non-medical and medical markets, run a tight supply chain. The two subsidiaries of the Coghlin Companies, headquartered in Westborough, MA, source from a global roster of suppliers to manage costs and maximize selection and flexibility. Both companies practice lean manufacturing techniques and focus on the low to medium volume, high-mix market segments.
As is quite common in the manufacturing industry, Columbia Tech and Cogmedix occasionally end up with more inventory than they need. Customers may over-forecast demand; cancel orders; or upgrade products due to safety or performance resulting in components that become obsolete. Columbia Tech and Cogmedix have integrated Inventory Management Partners (IMP), a provider of managed inventory disposal services, into their supply chain. Seth Margadonna, Materials Planning Manager for Columbia Tech and Jim Coghlin, Vice Chairman, Chief Relationship Officer and Principal of the Coghlin Companies Inc., spent some time with EPSNews discussing how IMP helps smooth out inventory spikes and recoup the most value for excess inventory.