Supply Chain EVP Greg Smith sees fewer suppliers in Medtronic’s future

Greg Smith is Medtronic’s EVP of global operations and supply chain [Photo courtesy of Medtronic]

All eyes are on Medtronic’s global operations and supply chain leader as he works to modernize its operations and scrutinize suppliers.

EVP of Global Operations and Supply Chain Greg Smith sees fewer suppliers in Medtronic’s future, he said in an interview this week.

Smith spoke with DeviceTalks Editorial Director Tom Salemi in his first published interview since joining Medtronic (NYSE:MDT) in April 2021.

Smith was previously EVP of U.S. supply chain at Walmart and SVP of global operations at Goodyear Tire & Rubber Co. His more than three decades of experience also includes time at ConAgra Foods, United Signature Foods, VDK Frozen Foods and Quaker Oats.

Around the same time that he joined Medtronic, semiconductors and resins were in short supply following the February 2021 cold s…

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Medtronic supply chain chief Greg Smith on shortages, suppliers and strategy

Greg Smith is Medtronic’s EVP of global operations and supply chain. [Photo courtesy of Medtronic]

The heat is on for Medtronic’s global operations and supply chain leader as he forges new links with suppliers the company relies on for innovation, quality and reliability.

For much of his 36-year career in operations, Greg Smith has had to explain to family and friends what the supply chain is and what his job is all about.

“I don’t have to do that anymore,” he said.

It’s no wonder why. Examples of supply chain SNAFUs have intruded on nearly all aspects of our everyday lives since the start of the COVID-19 pandemic, from shortages of masks, test components and toilet paper in the early days to persistent bottlenecks in semiconductors, resins and the many medical and consumer products that use them.

Smith is EVP of global operations and supply chain at Medtron…

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‘Catastrophic explosion’ and resin shortage led Medtronic’s supply chain problems

Medtronic CEO Geoff Martha [Photo courtesy of Medtronic]Medtronic CEO Geoff Martha today said a “catastrophic explosion” in Medtronic’s supply chain for packaging and a shortage of resins were the biggest issues hurting the company’s fourth-quarter performance.

Fridley, Minnesota-based Medtronic (NYSE:MDT) reported about $350 million less in sales than analysts were expecting for the quarter, which ended April 29.

Martha said about 75% of the miss was caused by supply chain issues, 15% by the COVID-19 lockdown in China and the last 10% due to foreign exchange rates getting worse.

Supply chain struggles “came out fast and hard” in the fourth quarter across the company’s businesses, but were most pronounced in Surgical Innovations (SI), Martha said.

Get the full story at our sister site, Medical Design & Outsourcing.

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‘Catastrophic explosion’ and resin shortage led Medtronic’s supply chain problems

Medtronic CEO Geoff Martha [Photo courtesy of Medtronic]

Medtronic CEO Geoff Martha today said a “catastrophic explosion” in Medtronic’s supply chain for packaging and a shortage of resins were the biggest issues hurting the company’s fourth-quarter performance.

Fridley, Minnesota-based Medtronic (NYSE:MDT) reported about $350 million less in sales than analysts were expecting for the quarter, which ended April 29.

Martha said about 75% of the miss was caused by supply chain issues, 15% by the COVID-19 lockdown in China and the last 10% due to foreign exchange rates getting worse.

Supply chain struggles “came out fast and hard” in the fourth quarter across the company’s businesses, but were most pronounced in Surgical Innovations (SI), Martha said.

“It was three things,” Martha said. “It was semiconductors, which is affecting every…

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