Influence of epidemic COVID–19 on business strategy, information technology and supply chain agility to firm performance in medical device industry

Maemunah, Siti; Cuaca, Herry

doi:10.21744/lingcure.v5ns1.1452

Cited by 10 publications

(5 citation statements)

References 25 publications

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“…The results of the study are in accordance with the results of other similar studies (Gidwani and Damberg, 2023;He et al, 2022;Zheng et al, 2023), although there are also studies that found a negative impact of the COVID-19 pandemic on healthcare companies' nancial performances (Mahssouni et al, 2022). In the literature, business strategies are found to have a positive impact on companies' nancial performances during the COVID-19 pandemic (Maemunah and Cuaca, 2021). Therefore, managers and policy makers in the medical device sector may bene t from our ndings to develop strategies for possible future pandemics and crisis periods.…”

Section: Discussionsupporting

confidence: 89%

Evaluation of the financial performances of the medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic

Tümer,

Tengilimoğlu,

Demiray

2023

Preprint

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The purpose of this study was to evaluate the financial performances of the six medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic. For this purpose, we first conducted ratio analysis by using liquidity, turnover, leverage and profitability ratios; then we conducted Wilcoxon signed-rank tests by using the calculated values of the financial ratios. We obtained the required data from the annual financial statements of the medical device companies among Fortune 500 companies. In the analyses, we took 2019 as the year before the COVID-19 pandemic, 2020 and 2021 as the year of the COVID-19 pandemic and 2022 as the year after the COVID-19 pandemic. The findings of the study showed that the medical device companies among Fortune 500 companies were able to keep their financial performances strong when the COVID-19 pandemic began; they were able to increase their profits in the second year of the COVID-19 pandemic; and they were able to start using their assets more efficiently after the COVID-19 pandemic. This suggests that the overall financial performances of the medical device companies among Fortune 500 companies were strong before, during and after the COVID-19 pandemic. The evaluation of the financial performances of the medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic may be beneficial for managers and policy makers in the medical device industry to determine the areas that requires to be strengthened in order to be better prepared for possible future pandemics and crisis periods.

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Section: Discussionsupporting

confidence: 89%

Evaluation of the financial performances of the medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic

Tümer,

Tengilimoğlu,

Demiray

2023

Preprint

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“…COVID-19 has affected the economies of all countries. This supports demand in Southeast Asia including Indonesia to increase especially in the Health and Pharmaceutical Industries tend to grow rapidly 1 Customers are blindly looking for all medical needs 2 and some entities hope to make a profit. Micro retailers dominate Indonesian marketplaces based on product sales.…”

Section: Introductionmentioning

confidence: 81%

Marketing Strategy to Increase Sales during a New Normal Era on PT. Promedika Mitra Utama (Distributor in the Medical Device Sector)

Soffa¹

2023

ijcsrr

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COVID-19 has affected all economies. increases demand in Southeast Asia, particularly Indonesia, notably in the health and pharmaceutical industries, which grow significantly. Some entities like micro-retailers hope to make a profit. Micro retailers dominate Indonesian based on product sales. Micro retailers sales and revenue rise significantly. Promedika Mitra Utama (PMU) sells and marketing their product using B2C business model. as micro retailer categorizes in micro in medical device industry, PMU has also been affected positively and negatively by the pandemic. In 2023, market condition of medical devices had started to fall, this caused corona cases to have gone down, people don’t really need medical devices. PMU as a micro retailer experienced a decline in sales as well, Learn from this dynamic condition. PMU wants to maintain the stability of sales performance at least will be stable to for a next a few years as a player on health and pharmaceutical industries. Marketing activities are one of those that can aid in this regard and directly relate to sales. In general, PMU has carried out marketing activities, but that kind of marketing activities PMU running are poor on measurement and monitoring, this led to his marketing activities often ineffective in Budgeting, scheduling, utilization. Entering 2023, PMU wants to make a marketing plan approach to efficiently budget campaigns, promotions, and other marketing activities according to the company’s goals and objective. Good marketing plan approach will be anticipated volatility of the market by enhancing sustainable competitive advantage. and evaluating ongoing marketing activities. Using the AFI analysis framework based on internal, external, and SWOT formulation, will result in some proposed marketing planning strategy. Marketing plan will be used for 2023 and for 2024 input evaluation, where the results are in the form of a formulation of 7Ps of marketing mix, TOWS, and Porter Generic analysis. Finding of this research, it was found that PMU will plan and applied some strategy and policies offline and online-based marketing activities in 2 semesters during 2023. Which is the goal of the first semester to build awareness and discount incentives to boost sales and Finding of this research, it was found that PMU will plan offline and online-based marketing activities in 2 semesters during 2023. Which is the goal of the first semester to build awareness and discount incentives to boost sales.

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“…It is recommended that further research not only focus on medical devices but also consider larger or different areas to elicit different responses. The results provide guidance for enterprises to adopt business strategies, information technology, and supply chain agility to improve enterprise performance [5].…”

Section: Literature Reviewmentioning

confidence: 93%

The Impact of the Epidemic on the Economy

Wang

2023

AEMPS

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In early 2020, COVID-19 swept the world, and the impact of the epidemic was very large all over the world. Through qualitative and quantitative investigation, this paper conducted an in-depth investigation on the impact of the epidemic on people. Through the comparison of GDP and Engel coefficient before and after the epidemic, it is found that the economy was in a declining stage after the outbreak of the epidemic, and people's living standards also declined with the spread of the epidemic, reversing the trend of continuous improvement in previous years. The questionnaire and interview summarized the views of different Chinese people on the epidemic and expressed their practical views. The impact of the pandemic on people's lives is mainly through both indirect effects on the economy and direct effects on people's lives. There is no denying that the epidemic has had a huge negative impact on people's lives. Only by controlling the development of the epidemic can the impact on people's lives be minimized in a real sense. Although the development trend of the epidemic is still not clear, it has been controlled in general, and the future economic development and people's living standards will also turn the decline into a rise.

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Influence of epidemic COVID–19 on business strategy, information technology and supply chain agility to firm performance in medical device industry

Cited by 10 publications

References 25 publications

Evaluation of the financial performances of the medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic

Evaluation of the financial performances of the medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic

Marketing Strategy to Increase Sales during a New Normal Era on PT. Promedika Mitra Utama (Distributor in the Medical Device Sector)

The Impact of the Epidemic on the Economy

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