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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ResMed finds a solution to semiconductor shortage, as well as some humor in it

ResMed (NYSE:RMD) can’t go back in time to solve its semiconductor shortage, but it’s found a solution that might be the next best thing — for now.

President and COO Rob Douglas (serving as interim president of Sleep and Respiratory Care at ResMed after Jim Hollingshead left to be CEO of Insulet) offered an update on the San Diego-based company’s supply chain issues as it tries to capture more of the market while Philips works through its recall.

ResMed President and COO Rob Douglas [Photo courtesy of ResMed]

“We’ve been managing a higher than normal rate of decommits coupled with a competitor recall that sucked all the inventory out of our systems and out of all of our customers’ systems as well,” Douglas said Wednesday at the William Blair Growth Stock Conference. “And so there is a huge shortage of devices. … We joke that the head of our supply cha…
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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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Texas power grid struggles a year after cold stopped semiconductor plants

Samsung workers at a semiconductor fabrication plant [Photo courtesy of Samsung]A heat wave in Texas took at least six power plants offline Friday with high temperatures forecasted to blaze throughout this week.

A record cold snap in February 2021 took NXP Semiconductors and Samsung chip fabrication facilities offline for weeks, contributing to a global semicondcutor shortage that is still throttling medical device production.

There’s no indication yet that the power grid’s latest struggles will reduce or stop semiconductor production, but the Electric Reliability Council of Texas (ERCOT) has asked residents to curb their electricity use ahead of more heat.

“With unseasonably hot weather driving record demand across Texas, ERCOT continues to work closely with the power industry to make sure Texans have the power they need,” ERCOT Interim CEO Brad Jones said in a news release.

Get the full story at…

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Texas power grid struggles in heat one year after record cold stopped semiconductor plants

Samsung workers at a semiconductor fabrication plant [Photo courtesy of Samsung]

A heat wave in Texas took at least six power plants offline Friday with high temperatures forecasted to blaze throughout this week.

A record cold snap in February 2021 took NXP Semiconductors and Samsung chip fabrication facilities offline for weeks, contributing to a global semicondcutor shortage that is still throttling medical device production.

There’s no indication yet that the power grid’s latest struggles will reduce or stop semiconductor production, but the Electric Reliability Council of Texas (ERCOT) has asked residents to curb their electricity use ahead of more heat.

“With unseasonably hot weather driving record demand across Texas, ERCOT continues to work closely with the power industry to make sure Texans have the power they need,” ERCOT Interim CEO Brad Jones said in a news relea…

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Medtech CEOs sound off on semiconductor shortage, pushing Biden administration for prioritization

BD CEO, President and Chair Tom Polen [Photo courtesy of BD]AdvaMed continues to push the Biden administration to prioritize medical device manufacturers for semiconductor supplies.

With medtech companies still struggling to source chips amid a global shortage, the industry association held a meeting this week with some of its members and Secretary of Commerce Gina Raimondo to make their case.

“Semiconductor chips are crucial to our industry and to the countless patients who depend on the medical technologies we produce,” AdvaMed President and CEO Scott Whitaker said during the meeting, according to a readout. “In this challenging environment, we simply cannot compete with larger players to gain access to chips.”

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

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Medtronic CFO offers supply chain update as medical device industry concerns mount

Medtronic CFO Karen Parkhill [Photo courtesy of Medtronic]Medtronic (NYSE:MDT) was among the participants in a White House semiconductor summit last week to address the continuing global shortage of electronic chips, but CFO Karen Parkhill says the world’s largest medical device manufacturer is not in same dire straits as chip buyers in other industries.

Medtronic’s supply chain is “holding up OK, but we’re seeing pressures like everybody else,” Parkhill said Friday in an interview with Medical Design & Outsourcing.

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

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