With the growing emphasis on improving patient care, the global market for medical devices is being driven by enhanced medical technologies and a demographic shift towards high-quality care.
Medical device manufacturers must look to leverage advanced technology to innovate and design new equipment that can keep them ahead of their competitors. Along with innovation, this industry sector also needs to comply with strict regulations such as ISO and FDA. Moreover, an INEMI study found that 20% of the medical OEM companies and 60% of medical supply vendors are not even informed of the regulations that they must follow.
Also Read: Why SAP Business One is the Right ERP solution for Small and Medium Sized Companies
An ERP solution such as SAP Business One (or B1) can help in complying with growing market demands and industry regulations in the manufacturing and supply chain. What are the features and benefits of implementing SAP B1 in the medical device field? Let us discuss that next.
How SAP B1 can help medical device companies?
With SAP Business One, medical device manufacturers and supply chains gain complete control over their daily operations and effectively manage their resources.
Here are some ways in which SAP B1 increases the productivity of medical device companies:
● Industry Regulatory Compliance
SAP Business One can improve compliance with industry regulations such as FDA and ISO by providing end-to-end visibility and quality assurance of the manufacturing and supply chain operations. Besides, it ensures proper and complete documentation including product versions, revisions, batches, and serial numbers.
Also Read: How does the Mobile Application of SAP Business One Help?
● End-to-end Traceability
With SAP B1 in place, medical device companies now have complete visibility over serial and lot number traceability. For instance, serial number traceability in SAP B1 uses product serial numbers to track the movement of physical equipment and medical devices. Similarly, lot numbers for raw materials and goods can be used in SAP B1 pharmaceutical solutions to trace materials across supply chains.
● Seamless Integration
SAP Business One offers seamless integration with CAD and PLM machines used in medical device manufacturing facilities. With a range of third-party enterprise applications running in any IT network, SAP B1 can work towards integrating and synchronizing the IT ecosystem to make it work efficiently as a single unit.
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● Optimized Planning and Productivity
With advanced planning and scheduling features, SAP B1 can enable medical device companies to optimize the productivity of its machinery, tools, and other resources. Further, project planning tools can be used for new devices and product prototyping, and approvals at an optimized cost.
Also Read: How to Optimize Purchase Planning and Control Costs with SAP Business One
● Real-Time Analytics for Decision-Making
Thanks to its customized reporting and intuitive dashboard feature, SAP Business One enables medical device manufacturers to customize their business reports using real-time data analytics and queries. Previous data can now be extrapolated to determine market patterns and make informed business decisions for the future.
These are some ways in which SAP Business One can benefit medical device companies. Further, the medical sector can benefit from the advantages of SAP in the healthcare and pharmaceutical sector.
As an end-to-end ERP tool, SAP Business One is the best investment for medical device companies looking to increase their market reach and release innovative products in a competitive market space.
With its expert domain knowledge of SAP solutions, Praxis Info Solutions has helped companies from this sector by developing appropriate solutions in SAP Business One. Our SAP-based solutions are simple to execute and can address complex business problems. Here is a peek into the SAP B1 integration capabilities, and why you should consider partnering with Praxis.
Interested in knowing how Praxis can help in leveraging your SAP investment? Get in touch with us on our website or drop us an email at email@example.com.