- 20 April 2016
The medical device industry isn’t like other manufacturing industries. Medical manufacturers focus on high-level clientele and face administrative complexities other manufacturers do not. There is constant pressure to provide the latest innovation in medical devices while managing rapid product development cycles.
The right enterprise resource planning (ERP) system can help manage all the complexities of your medical manufacturing enterprise, with easy-to-use services that integrate throughout your supply chain to support all of your manufacturing processes. It provides the financial management, product management, customer relationship management (CRM), and supply chain management (SCM) necessary to make your business more flexible and scalable, in order to grow and optimize profitability.
Given the complexities of medical manufacturing, an ERP system isn’t a nice to have, it’s a must. Here’s why:
Increased Agility & Better Compliance
Succeeding in today’s manufacturing world requires adapting to a complex and changing regulatory environment which affects the development, manufacturing, inspection, sale, and maintenance of products. It is a constant struggle to maintain compliance to the strict and constantly-changing government regulations.
Advanced ERP technologies help you adapt and respond to external requirements and situations, whether it’s a new FDA regulation or losing a supplier. ERP provides you automatic monitoring and escalation alerts to track important issues and abnormal events, whether internally or within your external supply chain. It establishes measures throughout the supply chain to make sure your products remain compliant to government regulations, while also optimizing the processes surrounding the manufacturing of these products.
A successful medical device manufacturer maximizes the potential of its human, physical, and technological resources. This means automating areas that require frequent intervention and are prone to expensive delays and mistakes.
With built-in automation capabilities for payroll, costing, production, and vendor management, among others, ERP helps your enterprise run more efficiently across departments, saving you time and money.
Better Order Fulfillment
Rapid deployment reduces your costs and delivers the responsiveness customers need.
ERP provides information on your product development cycle that identifies the areas that need improvement. As your process improves, your time to market will go down and you may even find you can increase production, leading to more profit.
ERP solutions also allow for real-time updates that integrate with business intelligence analytics tools. This allows you to have up-to-date inventory, supply chain and market demand information at your fingertips, helping you deliver on time and meet customer demands with better order fulfillment.
Seamless Serial & Lot Tracking
There’s no way around it: with lives on the line, medical device manufacturers cannot afford to distribute faulty equipment. It’s imperative that medical manufacturers track every step along the supply chain.
ERP solutions include automated serial tracking and traceability, leaving a thorough audit trail along your supply chain and allowing for quick recall if a problem is identified. Maintaining high product quality and assurance in this way is crucial in reducing the risk to patients and protecting your reputation in the industry.
Designing and producing complex products like medical devices requires creativity and collaborative thinking. With ERP solutions, your engineers, designers, suppliers, and production teams can collaborate in real-time, sharing data and using computer-aided design diagrams and 3D images.
With better collaboration processes throughout your supply chain, you can maintain better version controls, track escalations, and capture conversations about the product. Your teams will be able to track, report, and validate their decisions.
This documentation is invaluable when legal or compliance issues arise, such as questions about due diligence or intellectual property rights. With the right ERP system in place, nothing is left to memory or chance.
These ERP communication tools will also spur innovation among your teams, help you accommodate last-minute changes to orders, and help you speed product introductions. There’s no reason for your enterprise to suffer because of miscommunication or because of teams working in silos, and an ERP system will make sure these things don’t happen.
From increased agility and better compliance to improved collaboration, an ERP system can make your medical device manufacturing more efficient, more innovative, more compliant, and ultimately more profitable.