3 Medical Device Manufacturing Trends
Medical device manufacturing is a fast-paced industry in which new products and updates are continually rolling out. While innovation is essential, so too are quality control, standardization, and compliance. Medical device manufacturers are charged with creating a fast and efficient supply chain that’s transparent and responsive. Current trends in this area are pushing manufacturers toward improving their production practices and incorporating more powerful technology at all points in the supply chain. The sooner you can incorporate these trends in your business, the more competitive you can be.
Collaboration is essential in the area of medical device manufacturing. Modern products can feature components sourced from several different manufacturers. The complexity of today’s innovative healthcare technology necessitates streamlined collaboration across all levels. Utilizing the cloud is one of the most efficient ways to provide for powerful collaboration. Cloud solutions can connect businesses at all points in the supply chain for optimum service, efficiency, and transparency.
Setting up a cloud-based system is quick and easy, making this an easily accessible option for businesses of all sizes. IT and data storage needs are handled off-site so only minimal technical staffing is necessary for those who are working with the software. Medical device manufacturers are moving toward cloud solutions that can align product development networks for better efficiency and affordability.
Streamlined Product Tracking
Updated compliance standards are less a trend than a necessity in the field of medical device manufacturing. What is trending is the sleek and efficient way that manufacturers are dealing with things like unique device identification (UDI) requirements for packing and labeling, as well as GS1 standards for supply chain visibility.
Smart ERP software is becoming more relevant than ever before. The right software can track the product life cycle for each individual component used in medical devices to ensure that outdated supplies are never sourced. This same software can help manufacturers provide the proper labeling for items and track movement through all points in the supply chain — so purchasers have the visibility that they need to feel confident in their purchases.
Leaner Supply Chain Management
In the healthcare industry, leaner production is essential. Purchasers such as hospitals and physicians’ offices are under an increasing amount of pressure to cut costs. Medical device manufacturers who can stay competitive in the pricing arena will have the best chance of landing new contracts in what can become a very crowded marketplace.
Tools and systems that eliminate redundancies and streamline production are perfectly poised to limit expenses at all points in the production line. Medical device manufacturers first need to establish visibility throughout the process, from the sourcing of supplies and materials to the manufacturing processes taking place on the production floor. The more data that’s available, the easier it is to pinpoint opportune places for cost savings that will ultimately create a sleeker and leaner supply chain.
Keeping ahead of the trends in medical device manufacturing can help you grasp your share of this lucrative market. Establish your business as a thought leader with new and innovative processes for managing the supply chain for your medical devices.