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Sage X3 medical device ERP software provides the required tools to manage quality requirements and compliance for medical device manufacturers. It also supports internal communication and allows all departments to collaborate and work in unison. This medical device ERP delivers industry-specific functionality to accommodate your current and future business needs. In addition, you can conduct rigorous inspections to ensure your products conform to industry-specific operational standards.
The pandemic impacted global supply chains, increasing time-to-market and escalating material prices. Yet, the demand for medical devices rose exponentially. As a result, experts suggest there will be a massive disparity between what medical device manufacturers can produce until raw material prices get back to pre-pandemic levels and global supply chains become functional again.
Unregulated devices are not covered by insurance, and therefore patients are skeptical about purchasing them due to cost concerns. Also, medical device manufacturers get a bolt of shock when they learn more about FDA regulations and other evaluation processes because they are costly and lengthy. Thus, many startup medical device manufacturers don’t apply for getting government approvals.
One of the biggest concerns for medical device manufacturers is counterfeit products that flood the market within a few months. Responsible medical device manufacturing companies do years of research to design and manufacture a top-notch product. But imitators build lookalike products that are poor in quality and may cause severe injuries to the consumers. These replicas are often well-packaged and competitively priced to offset their poor production.
One of the most significant challenges for the medical device manufacturing industry is the rising cost of medical devices. It’s because patients, especially those suffering from chronic conditions, can’t afford medical devices. This situation is compounded by the fact that most medical devices lie outside the purview of traditional insurance coverage. And therefore, the customer base of medical device manufacturing companies is decreasing sharply.
Create a Device History Record (DHR) that allows medical device companies to pay attention to the rising cost of production and materials, tooling specifications, patient documents, and packaging & labeling.
Sage X3 manufacturing ERP software for medical device companies provides full backward and forward lot traceability. This feature maintains a repository of historical transactions over several years.
With its improved order fulfillment feature, Sage X3 manufacturing ERP allows medical device companies to meet customer expectations on time. In addition, data stored in a single repository will enable companies to improve visibility into the supply chain, manufacturing operations, inventory, and changing market demand & customer preferences.