Useful Advices - Business

Global supply chain management has emerged as a major topic in the age of globalization and now it is sitting at the heart of the whole system. But you might be

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

asking yourself, so what exactly is supply chain management and how can it affect my company?

Let’s understand what it is first.

From the production house the p

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

oduct starts it journey and travels through to the supplier, distributor, retailer and ends at the hands of the consumer. This whole journey is a well managed me

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

hanism and controlled by supply chain management. When it goes global and the journey of the product covers multiple countries, then it is called global supply c

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ain management.

With globalization, business has become more complex. Global supply chain management not only mobilizes products but also the entire value added

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

chain, in which financial activities and sharing of information are also included.

Big companies have many hubs around the world. Raw materials, finished produc

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

s, finance and other pertinent information travel from one hub to the next. Global supply chain management is the basis of the whole operation.

The cost of prod

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ction and profitability is dependant on the global supply chain as well as how well employees throughout the company are trained for such fast-paced tasks.

Globa

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

supply chain management has two major components:

1. International movement of products and raw materials, title transformation, payments, controlling risk fact

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

rs 2. In parallel with the above activities, an information network is hard at work. Information sharing and collecting is very important to run an effective glob

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

l supply chain management system

The efficiency of the global supply chain management of any company can make everything look easy. However in order to attain t

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

hose efficiencies your employees need to understand the fundamentals. The most basic fundamental is that supply chain management is not just domestic anymore nor

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

is it just for large corporations. Small and midsize companies have to be global supply chain management savvy if they wish to survive.

The growth and developme

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

t of a company is largely dependent on the global supply chain management system and its most important asset - employees.

Are your employees top-notch when it c

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

mes to global supply chain skills? If you can’t answer yes then you better start thinking about training because your competitors are.

So, what type of training

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

is needed companywide?

First, introduce employees to global supply chain management. Don’t assume they grasp the concept. With increased globalization and offs

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ore sourcing, global supply chain management is becoming an important issue for many businesses. So, make sure the foundation is laid.

Second, employees should

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

earn the underlying factors behind the trend to reducing the cost of procurement and decreasing the risks related to purchasing activities.

Third, they should un

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

erstand the following principles: a) competition is no longer among independent companies but instead about connected supply chains b) supply chain competition is

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

global c) winners will be companies that best integrate and achieve commitment to supply chain excellence among diverse organizations

Copyright 2006 Sherry Harri

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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