Discreet manufacturers need systems to optimize and streamline their operations for quality products. These systems automate core operations, organize your data, optimize the supply chain, and ensure your efforts are compliant. Enterprise Resource Planning platforms like GoldFinch ERP provide an all-in-one solution for medical manufacturers to realize their team’s potential.
Read more about how ERP helps medical device manufacturers and what to consider when browsing through providers.
Why Medical Device Manufacturers Need ERP
Medical devices are crucial components in health care. Numerous laws require these device manufacturers to produce quality devices. Implementing an ERP helps by giving you remote access to company data, tracking resource components, and integrating processes.
The following are reasons why medical device manufacturers need ERP:
Compliance
Medical device manufacturing is a critical process that leaves no room for error. Set regulations help ensure the process meets the defined quality standards. Not adhering to these regulations can cause your company to pay significant fines and damage your brand’s reputation.
Implementing a medical device manufacturing ERP will help meet strict compliance standards by building a solid quality management function. The function also simplifies audits and recalls by guaranteeing comprehensive traceability across the supply chain. Note that these regulations will continue to become stricter, and you may not survive without ERP integration.
Cost Reduction
Manufacturing medical devices is a capital-intensive venture, forcing the manufacturers to operate on low margins. The high materials and tax costs make driving profitably tricky for these companies. You’ll need an ERP to reduce these expenses and boost productivity by focusing on increasing revenue.
Not having an ERP to manage your processes will compromise your company’s efficiency. An effective system will give your team a centralized storage for easy access to information and reports. Your IT department will also have fewer glitches and data backlog issues as the system automates most functions. Since all departments operate under one platform, it widens your profit margin and ROI growth.
Improved Supply Chain Control
Medical devices are in demand globally as they are crucial components in transforming the lives of many patients. However, the global market makes it more challenging for these manufacturers to control the supply chain. ERPs provide the necessary tools to manage your products’ movement from order to delivery.
The system uses automation, visibility, and agility to track the devices across the supply chain. It provides your team with scheduling tools and product configurators to avoid production line interruptions, enabling real-time changes.
Facilitates Global Operations
Medical device manufacturers often operate globally, so they must manage multiple facilities, regulations, and currencies. Coordinating all this information might prove challenging without systems to help. The ideal ERP will help bridge the gap between global processes and locations by leveraging cloud hosting technology.
ERPs also provide specialized features to help facilitate global operations. Some platforms keep track of international compliance and tax regulations using Country Specific Functionality and global engines. You also get multi-currency management to automate foreign currency transactions.
What To Look for In Medical Device Manufacturing ERP
ERP systems are fundamental in streamlining and optimizing medical device manufacturing. However, you must understand what makes suitable software to help you make a more informed decision when appraising providers.
Here are the core features you need to look out for when selecting your ideal ERP:
Integration
Your ideal medical device manufacturing ERP should integrate the different elements involved in production to streamline operations. The integration also helps transform your brand by boosting performance and ensuring your team meets critical performance educators. There are different types of modules to help with the various functions.
For cloud-based ERPs, you have remote access to real-time company information. It also keeps your processes connected and ensures all systems run perfectly and simultaneously.
Tracking
Another feature to consider when evaluating an ERP for your medical device manufacturing business is tracking capabilities. This industry deals with tons of valuable data at every step, making manual tracking almost impossible. You’ll need an ERP to track, control, and record the data to simplify data tracking and improve security.
Automation is another ERP feature that makes tracking easy. The system automates data collection on the fast-moving processes, providing end-to-end visibility on company processes. You can keep an eye on a specific product from when the order was received to when it got delivered.
Quality Management
Quality is a crucial consideration in products involving health care. Medical device manufacturers need an ERP with a quality management module to help inspect and maintain quality equipment and devices. All batches manufactured must match the defined standards.
It would be wise to consider ERPs with comprehensive quality assurance tools. They give you more control over production quality by tying together the processes. You also get deeper insights and improved efficiency, which optimizes company performance.
GoldFinch ERP as a Solution
GoldFinch is among the few ERP solutions with a customized package for the medical device industry. It offers efficient operations for your company, resulting in faster turnarounds, satisfied customers, and increased productivity.
Instead of using multiple generic software, why not consider an all-in-one solution like GoldFinch to improve discreet manufacturing effectiveness? With features like product lifecycle management, quality management systems, and manufacturing execution systems, this system will significantly impact your operations. The modules provide more control over the product’s lifecycle and real-time visibility in your manufacturing process.
Focusing on serial numbers is another reason GoldFinch is a worthy solution for medical device manufacturing. Operating with such a system makes it easy to keep track of equipment, products, and parts. It also creates a Bill of Materials for all batches manufactured and provides a comprehensive report.
Monitoring your stock levels also becomes easy with GoldFinch ERP, allowing you to set minimum and maximum stock levels. You’ll get an alert whenever your inventory exceeds the minimum rating to prevent stock dry-outs. Today, implement GoldFinch ERP in your medical device manufacturing firm and watch as your business scales.
Conclusion
To realize the true potential of your medical device manufacturing business, you need an ERP. Solutions like GoldFinch ERP automate core tasks, streamline operations, improve productivity, and help keep your data organized.
Contact us today to get started.
