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COMPANY NAME: Arthrex, Inc.
URL: https://www.arthrex.com/
MISSION STATEMENT: Helping Surgeons Treat their Patients Better
COMPANY STRATEGY: Arthrex is a global medical device manufacturer and
educational provider that is focused on orthopedics market. This narrowed approach
differentiates them from other competitors because they devote more time and effort to
produce higher quality products and services. Their mission statement drives their
product line and development of procedures towards continued innovation in arthroscopy
which provides flexibility to quickly respond to market changes. They seek to gain a
competitive advantage by creating new tools and techniques for surgeons that produce
better outcomes for patients which customers perceive to provide maximum value.
MEASURES OF PRODUCTIVITY:
o 1. Arthrex can measure their manufacturing productivity using a multifactor
approach. This is achieved by taking the total amount of each product produced
from each department and dividing it by the amount of overhead cost which
consists of the amount of labor hours, material used, staff, space needed, and
capital equipment and resources.
o 2. Arthrex can measure service productivity based on a couple of data points. The
total amount of Arthrex surgeries performed and products sold year over year can
provide insight on their service effectiveness. They can also divide the total
amount of services provided by their cost to operate (staff, salary, training,
materials used and travel).