Medtronic CEO and Chair Geoff Martha [Photo courtesy of Medtronic]
Medtronic is closing at least five manufacturing sites, consolidating distribution centers and stopped doing business with approximately 200 suppliers as part of a push to improve its operations and supply chain.That’s according to a presentation by Medtronic Chair and CEO Geoff Martha at the J.P. Morgan Healthcare Conference today emphasizing the focus on profitability at the world’s largest medical device manufacturer.
“One of the biggest opportunities for us to leverage our scale and drive leveraged earnings over time is with our global operations and supply chain,” Martha said. “We spent nearly $11 billion on cost of goods sold last year. That’s a lot. And over half of the company’s employees are involved in global operations and supply chain.”
Medtronic is “also beginning to wor…