The COVID-induced global health crisis outlined the importance of healthcare services where medical equipment played a crucial role. The demand for medical devices has shot up in recent years by staggering margins. That being said, medical device manufacturers bear the onus to address the rapidly growing industry needs. In other words, the healthcare industry is majorly relying on medical device manufacturing companies to conserve the healthcare infrastructure.
To fulfill the growing demands of the healthcare industry, medical device manufacturers require advanced automation tools and enterprise software. This is where the importance of ERP systems comes to light. Custom ERP development for medical device manufacturing enables these companies to efficiently run their production units, streamline SCM activities, and improve logistics management.
In this blog post, we shed light on the importance of custom ERP development for medical device manufacturing with a focus on the benefits it delivers to manufacturers.
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Challenges Prevalent In The Medical Devices Industry
Before we explore the significance of custom ERP development for medical device manufacturing, let us first talk about the challenges that are commonly faced by these manufacturers.
Supply Chain Disruptions
The COVID-19 pandemic caused major disruptions across global supply chains, creating more difficulties for the healthcare industry. The skyrocketing demand for medical equipment and limited supply impacted healthcare infrastructures worldwide. At the same time, it caused a meteoric rise in material costs while also increasing time-to-market.
Counterfeiting
Counterfeit products have always been a matter of concern for medical equipment manufacturers and distributors. Over recent years, there has been a substantial rise in the number of counterfeit medical devices and equipment. Many malicious entities illegally manufacture counterfeit versions of high-end medical equipment and sell them at cheaper costs. It often takes original manufacturers a great deal of difficulty to tackle those malicious entities, causing whopping losses in the process.
Increasing Healthcare Costs
The rising cost of healthcare equipment imposes another major challenge for medical device manufacturing companies. Due to the increased cost of raw materials, they need to sell their products at higher prices, making them unaffordable for many patients.
Regulatory Challenges
Doctors and patients are less likely to buy unregulated medical equipment for obvious reasons. It is, therefore, crucial that companies that manufacture these products must remain compliant with local regulatory norms and government policies. However, the evaluation processes are both expensive and time-consuming. Moreover, getting government approval for a startup could be a hard nut to crack.
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How We Help Overcome These Challenges Through Custom ERP?
We are a seasoned ERP development company that specializes in building custom enterprise solutions from the ground up to address diverse business needs. Our end-to-end ERP application development services enable enterprises to solve complex business problems, streamline routine operations, and achieve higher levels of productivity. In the following section, we highlight the key benefits that medical device manufacturers can avail from our ERP development services.
Improved Traceability
Custom ERP development for medical device manufacturing renders end-to-end traceability to monitor inventory movements throughout the production and distribution lifecycle. A fully-integrated ERP software takes care of everything, from procuring raw materials to processing finished products and shipment management.
Quality Control
Quality control is increasingly important for enterprises operating in the manufacturing industry as it directly impacts the quality of end-products. When it comes to medical device manufacturing, companies must comply with the highest quality standards to stay competitive in the market. Besides, they must conduct routine quality assessments and audits to ensure that customers get the highest quality products.
Enterprise Asset Management
Enterprise asset management (EAM) is the combination of enterprise software systems and services that collectively maintain operational assets and equipment. The EAM process involves a multitude of processes including work management, asset management, planning, scheduling, health and safety, and supply chain management.
Customer Relationship Management
Customer relationship management is yet another crucial aspect that aids in efficiently running business processes in medical device manufacturing. Developing and implementing a CRM module enables these companies to deliver exceptional customer experiences and build long-term customer relationships.
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Closing Remarks
Developing and implementing custom ERP solutions enable enterprises to automate their operations and streamline manufacturing and distribution processes. To say the least, it helps medical equipment manufacturers to efficiently manage their production units, accelerate time-to-market, and improve customer experiences. Nevertheless, it is equally important to choose the right software platform and collaborate with an experienced ERP development company to get off on the right foot.
At Oodles ERP, we have a proven track record in building, deploying, and delivering cutting-edge technology solutions at cost-effective rates. To learn more about our custom ERP development services, reach out to us at [email protected].
