Medical Device Manufacturers must deal with a slew of different legislative factors, all of which prolong the time it takes to get to market and often lead to lengthy trial periods. To overcome these challenges, they often need a reliable and robust business management system that highlights key information about the suppliers, materials, and manufacturing processes.
In this blog, we take you through a few of the key considerations that Medical Device Manufacturers must keep in mind when selecting ERP software systems. However, we also explore some of the benefits of doing so and how it can help foster more innovation. Don’t worry if you want more detail, as we also expand more on these topics in our guide on ERP software for Medical Device Manufacturers, which is available for free on our website.
4 Benefits of An Integrated ERP System
Order Planning & Fulfilment
This ensures that you stay updated with sales requests and manage relevant manufacturing processes from the same interactive dashboard. In doing so, you can maintain the right levels and liaise with any required suppliers or external parties before you encounter fulfilment issues.
Regulations & Compliance
Cloud ERP systems can process and store a complete history of all your compliance documents and protocols so that you can retrieve them wherever necessary. Many ERP solutions, for example, can store manufacturing specifications and certifications, along with any relevant signatures or supplier documentation. Some even include built in functionality that accommodates FDA approved record-keeping, which helps you organise your business operations around the necessary compliance regulations.
Manufacturing Processes & Automation
Flexible manufacturing automation allows businesses to build their systems from the ground up. Manufacturing Execution Systems (MES), include a variety of useful functionality like Bills of Materials (BOMS), Manufacturing Specs, Manuals & Recipes, etc. The beauty of cloud ERP systems is that manual processes can be eliminated, and various information streams linked up, like contracts, billing, production schedules, partner management, and ingredient/supply data
Integrated CRM Functionality
Interdepartmental and enterprise-wide automation is complimented by a sophisticated CRM software that allows you to link the front and the back office. Put your customer and your target market at the heart of your business by implementing a refined sales and nurturing process, which is based on real data and not just outdated sales hunches.
How ERP Software Helps Push Innovation
Oftentimes, it is the smaller companies that seek to establish themselves as major innovators, instead of the more established corporations, as they often shy away from developing new products that cost time and money to launch. Not only are the rewards bigger for smaller companies, but they can be more flexible in their approach. Additionally, it also contributes to their investment potential, which means smaller businesses can undergo rapid growth once they receive funding from new stakeholders.
An ERP system can make a huge difference, as it allows you to scale quickly and efficiently whenever required. After all, once approved, the next mission is to deploy your product across all the relevant markets as soon as possible, so that you can finally see the results of years of hard work.
Want to read more?
Download our in-depth guide for more information. We explore all the challenges and considerations your company will face when selecting the right ERP system. We also have detailed products that are particularly well suited to Medical Device Manufacturers.
To talk to someone about software, get in touch.