The medical device industry faces enormous pressures that range from urgent product innovation to supply chain inefficiencies, quality inconsistency, and increased regulatory compliance, such as tracking employee training at each manufacturing step. Such issues require either optimizing current technological assets or upgrading to new solutions. With the right tools that provide visibility, interconnectedness, analytics, and transparency, developing compliant products at scale with agility and increased ROI can become a reality..
PLM services for the Medical Device Industry, such as Oracle PLM Cloud and Agile Product Lifecycle Management Solutions are beneficial as they consist of solutions for product innovation, supply chain, quality, regulatory compliance, and tracking employee training.

Understanding the problems and how software business applications can help

Problem 1

Rapid Product innovation and declining returns from existing products

• In the current time, rapid innovation is taking place, but with too many products entering the market each day, companies face losing their competitive edge. Every product is subjected to losing its distinctive features either to price competition or competitor products that offer more and better features. These threats, in turn, result in diminishing returns.

Solution

Innovation Management in Oracle PLM Cloud helps to:

• Provide a platform to analyze your ideas in an organized manner.
• Accurate data and market success analysis all consolidated in one platform.
• Design proposals and analyze portfolios accurately.

Problem 2

• Tracking logistics, inventory, and market demands are extremely complex and tedious processes.
• In coordination, time differences, along with information asymmetry, make it even more challenging to operate.

Solution

In particular for supply chain, Oracle Supplier Portal Cloud can help to:

• Provide supplier change order management.
• Streamline your supply chain processes and consolidate suppliers information and data.
• Communicate and resolve issues between the supplier and your business.
• Allow the supplier to manage their profiles on the system.
• Allow electronic invoice presentment.
• Allow collaboration between departments with reduced costs.
• Allow easy decision-making, increase business agility and improve customer & vendor relationships.

Problem 3

Quality issues

• Quality issues if unchecked, can cause a massive downfall to product success.
• The quality of a product is essential to check during the production and most importantly during customer use.
• The customers' feedback must be recorded and corrected as quickly as possible to ensure current and future products' minimum failure.

Solution

Oracle Quality Management in Oracle PLM Cloud and Agile PLM:

• It offers the ability to record quality issues, actions, and the corrective action all in a closed loop.
• All updates made in Oracle Cloud solutions can be viewed by the team as soon as they are made, ensuring everybody is up to date with the changes.

Problem 4

• Several new and revised mandatory health and environmental regulations to comply with.
• Non-compliance will result in your product not being on market shelves.

Solution

Environmental Governance & Compliance (EG&C) boosts the business with: 

• Multiple specification compliance statuses are visible in a single view.
• Seamless integration with Agile PLM & Oracle PLM Cloud.
• Support for over 127 regulations; RoHS 2, REACH Annex, REACH SVHC, California Proposition 65, Conflict Minerals, FMC and more.
• Over 2600 substances preloaded.
• Multiple Roll-up engines.
• Updateable regulations, exemptions and substances.
• Creation of customizable reports with OPLA in Agile or OTBI in Cloud.
• Easy communication with suppliers.
• Compliance computation in one platform for all chosen regulations.
• Efficient and real-time workflows.

GoSaaS Inspection Management (GIM):

• GIM minimizes the chance of producing a defective product as it inspects the supplier parts and the end products with the inspection plans help.

Problem 5

Regular Employee Training

• With product innovation, upgrades in technology, and new regulations, consistent training has become essential for every employee. It has become hard to keep track of their progress.

Solution

• Representation of completed and scheduled employee training and mastered skills, regardless of the training medium. This makes it easier for the trainer to keep track and help the company excel in the right direction.
• Centralized system for all employee documentation.
• Easy access to your organization's overall learning progress.
• Easy tracking of employee training.
• Easy course creation with PLM.
• Increased efficiencies in processes, resulting in financial gain.
• Increased capacity to adopt new technologies and methods.

Interested in exploring more how GoSaaS can help? Visit here.

As companies learn to get back on track in the current situation, many solutions can help. GoSaaS can help you improve your medical device organization's productivity, and our team will be happy to assist you. Feel free to book an appointment with us and learn how to enhance your business with the right tools.