ERP for Medical Equipment & Device Manufacturers
Fast Growing Medical Equipment Manufacturing Industry
Medical device equipment is a fast growing segment in the health care industry. Accelerating demand for devices is emanating from two notable areas, emerging foreign markets where these devices are relatively new, and in the U.S. due to an aging population. Medical device manufacturers face unique challenges when compared to other equipment manufacturers. Not only do they face the product complexity, the demand for more variety by customers, competitive pressures and the downward price pressures, they also must cope with the following:
What Are Your Medical Equipment Pain Points?
Every industry takes on their share of pain points and the medical equipment industry is no different. From how to handle high demands to competition and financials, WorkWise ERP is there to solve each issue.
Constant Customer Demand
Are your customers demanding more and more product options and innovations that require you to develop innovative engineering and production techniques to retain their business?
Mismanagement of Finances
At the end of each period do you truly know what your profit is, what your products cost and more importantly, what the key performance problems are that are hurting the growth of the business?
Inventory Uncertainty
Is your inventory carrying cost emulating the national debt? Do your purchase orders reflect what you really need to manufacture products that customers are demanding?
Scheduling Concerns
Is your production schedule developed to take advantage of the people, machinery and tooling, which represents a huge investment, or are expensive resources laying idle while customer orders are late?
Unorganized Business Processes
When regulatory organizations demand information necessary for you to ship product, are your data documents disorganized, wrong, or worse, missing?
Unsure of Business Insights
Are you constantly finding out that problems exist after it is too late to prevent them, never able to proactively enact change to prevent the situations that are costing you valuable time and money?
What Make the Medical Equipment Market Unique?
Regulatory Challenges
The medical device industry is subject to long list of regulations, standards and compliance items. These include FDA, ISO, Federal hazardous substance and other local or international mandates. These regulations can differ slightly within geographies and sometimes have nuances which the business system must accommodate. A manufacturer must comply with these regulations or risk penalties or malpractice lawsuits. These same regulatory items can also contribute to expensive redesigns in some of the products.
Quality Challenges
With medical malpractice, competitive challenges, and the customer demands for more features and functions, maintaining quality standards has become even harder. Medical device manufacturers must be more exacting and persistent with their quality and documentation efforts. Recalls can be expensive for the cost of product replacement.
Effective & Low-Cost Support
Another challenge for medical device manufacturers is access to low cost, on-call 24/7 technical support. Medical devices are used around the clock across the globe and require timely support to avoid lost revenue and customer attrition.
WorkWise ERP software provides medical equipment manufacturers complete visibility into the manufacturing and production processes, allowing them to face and conquer these challenges.
WorkWise ERP Software For Medical Equipment Manufacturers
+- How WorkWise ERP Can Ease The Pain Points
Constant Customer Demand
Proactive customer service through CRM will enable you to anticipate your customer’s needs and solve problems before they become critical. From the Engineering/Quoting process through providing product configuration options, WorkWise ERP will close the loop in your Customer Service requirements.
Mismanagement of Finances
From cost analysis of purchase price variances on critical components to a complete project cost on a hospital wing of equipment on a large customer order, the Financial Management suite will trap and report all costs and variances.
Inventory Uncertainty
A struggle that medical equipment manufacturers face is maintaining the proper amount of inventory needed for production to run seamlessly. Whether the amount is too high or low, unnecessary amounts of dollars spent and upsetting customers is a constant threat. WorkWise ERP’s Inventory Management replenishes products and materials at the right time and for the required amount.
Scheduling Concerns
Medical equipment production requirements can be extremely complicated, requiring the coming together of engineering, quality, and production data so that the proper mix of labor, equipment and know-how are there when needed. The WorkWise ERP Production Management suite phases all the elements of capacity to match the production schedule in order to keep the plan on track and deliveries on time.
Unorganized Business Processes
The WorkWise comprehensive Document Management capability is one of the most important features needed by the Medical Equipment Manufacturer. All the documents from customer to engineer to key supplier to production floor are catalogued and immediately available so that any question regarding specifications or quality and warranty can be easily and quickly answered.
Unsure of Business Insights
WorkWise Business Metrics is the CONELRAD of business in the 21st Century. Proactive and anticipatory alerts are sent to all key team members not just when something has gone wrong, BUT when something is GOING to go wrong.
+- WorkWise ERP Key Features for Medical Equipment Manufacturers
- Lot Control and Tracing Inventory Control. Keep complete records of all purchases and use of key materials by Lot and Serial Number to assure all material compliance requirements.
- Matrix BOM and Routings: Create product line features and options tied to specific materials and operations that can be assembled at time of Estimate or Quote to configure exactly what the customer desires.
- Sales and Production Forecasting: Master Production Scheduling allows the forecasting of major assemblies and product options to reduce the final assembly time of finished products, while statistical forecasting computes weighted average forecasts taking into account customer service level goals for Buy-to-Sell items and service parts.
- Shop Floor Control & Visual Scheduling: This real-time database of shop floor activity manages new work, current works in progress and completions. Handheld devices allow instant communication with the factory floor and provide pro-active exception information
- Job Cost: Stratify all planned vs. actual costs for material, labor, overhead and outside process activities and use this valuable data to improve processes and procedures.
- Business Metrics: Complete “Fingers on the Pulse” pro-active alerts and KPI Measurements including email, dashboard and mobile alerts will keep you on the leading, not bleeding edge of the ever-changing dynamics of your business.
+- WorkWise ERP Solution Summary of Benefits
Establish your business as a top-tier competitive manufacturer with:
- Accurate and timely estimates
- Improved relationship with key suppliers
- Increased productivity from sales to the shipping department.
- Reduced inventory costs and higher margins
Ready to Learn More
Ready to see how our powerful ERP software can benefit your business? Schedule your personalized, one-on-one demo today.
