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Addressing Medical Device Startups Challenges With ERP

ERP will manage all your compliance issues, quality check of the products (from raw material to the finished good), BOMs and other aspects of the organization. To know more, read here!

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Addressing Medical Device Startups Challenges With ERP

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  1. Introduction Indian medical device industry is a sunrise industry, which focuses on multiple segments such as consumables and disposables, implants, stents and more. Ranging from artificial joints to surgical equipment and medical consumable products, medical device manufacturers work on an array of products, which are listed below in this blog. What are the setbacks faced by medical device start-ups in India?

  2. 1.Ensuring the product quality Medical device manufacturers are proactively investing in the product development projects at a breakneck speed. The major aim of small and mid-sized manufacturers in this industry is to deliver quality in order to avoid product recalls as it directly reflects their brand name and the bottom-line.

  3. 2.Regulatory compliance and government support Adhering to product safety standards and norms is mandatory. Every range of equipment – from the thermometer to imaging machines, should meet the standards in every nation where it is being sent. Apart from this, garnering the support from the government in the form of expediting approvals, taxes and financial support, subsidized research etc. is a challenge for the budding manufacturers.

  4. 3. Cost of product development The burgeoning cost of product development is one of the biggest challenges faced by start-ups in India. Technology and government regulations support the innovative minds, but the exorbitant cost is a major obstacle. .

  5. 4. Unavailability of resources Unavailability of skilled resources, uncertain regulations, and irregular pricing environment, lack of innovation and extensive customization in the products also affect this business. So, how can a manufacturer overcome these challenges? What is the key element that lets them grow? You would have read so much about Enterprise Resource Planning applications. ERP has become inevitable for every organization, whether large scale or small.

  6. Conclusion ERP will manage all your compliance issues, quality check of the products (from raw material to the finished good), BOMs and other aspects of the organization. Medical device industry is a Central Drugs Standard Control Organization (CDSCO) regulated environment where higher visibility, real-world benefits, and tangible ROI – are the factors responsible for its growth. Medical device ERP backs you up and allows business owners like you to stand out by beating the rest. Feel free to contactus.

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