Major Market Entry Strategies for any business can be:

i) Technical innovation strategy - perceived and demonstrable superior products

ii) Product adaptation strategy - modifications to existing products
iii) Availability and security strategy - overcome transport risks by countering perceived risks
iv) Low price strategy - penetration price and,
v) Total adaptation and conformity strategy - foreign producer gives a straight copy.

In case of Bossard we will be using technical innovation strategy to propose superior products
and product adaptation strategy to enhance the usability of the existing products.
Key Market Entry Alternatives for Bossard to enter Hospital Market are:

1) Client’s Product Portfolio Optimisation:

Leveraging Smart Bin technology. Since Bossard has a lot of experience dealing with
client data about the past sales, customer requirements.SmartBin technology will
leverage this data to form an understanding of lower stocks. Using the knowledge about
client ordering trends, client behaviour can be analysed and personalised experience
can be provided. This optimised product portfolio will also help in reduction of errors
during re-ordering and reduction of TOC.

2) Strategic forecasting:
With Bossard’s existing capabilities, it can procure huge amount of data. Big data
analytics can be applied on this data by hospitals and clinics to plan long-term demands
for various medicines and medical equipment. It can further be extended to predicting
the admission rates (rate at which patients are visiting) to optimize the utilization of the
hospital premises and the available doctors.

3) Strategic network planning/forecasting:

Long term demand forecasting will help in identifying and planning for seasonality,
annual patterns, production capacity and expansion for a longer period. Strategic
transport demand models can substantially generate consistent estimates of trip
generation, trip distribution and network assignment. Forecasting network planning
would help in designing an effective travel plan that could balance the demand
accordingly and reduce the cost incurred with the operations.

4) Operational capacity planning:

The two major problems faced in hospitals are stock outs and inventory costs. With the
help of auto-inventory management incorporated into hospital logistics, both the
problems can be eliminated as it will help the hospital estimate the demand requirements
of small supplies assimilated into C-parts and auto-replenish whenever threshold is
reached. Hospitals can also do short and long term capacity planning. Also, due to a
highly subsidized system for supplies, errors in manual-reordering and replenishment
would lead to losses to hospitals. With auto-replenishments, the savings of the hospital
would increase significantly which could further be invested into developing a robust
optimized inventory management system.