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How Medtech companies can achieve agility through supply chain management and risk mitigation is what we will examine today.
Electronics manufacturers feel the pressure to modify design functionality to account for component shortages. information silos prevent scaling and free flow of data from assembly lines to shop floor to enterprise, and then out to value chain partners.
As with any global catastrophe, the pandemic forced sudden and abrupt change, which tested the mettle and resilience of every single business in the world. Manufacturing was no exception.
While some industries, such as non-essential goods, were brought to a complete halt, other industries supplying goods to battle the disease (the Pharmaceutical, Clinical Diagnostic and Medical Device sectors), were expected to scale rapidly to meet the global demand for their products.
Today we will discuss the future of manufacturing, examining the effects that new technologies and the pandemic are having in shaping its future. We will review the need for digital transformation and building resilience in global manufacturing supply chains.
If there’s one thing over everything else that’s going to ruin your plans for manufacturing excellence, it’s uncertainty. And that is something we have in abundance right now.
The urgency of response to Covid-19 and the market whiplash are causing MedTech companies to rethink their product mixes to either innovate or partner with other technology companies to answer the pandemic needs. MES has reinforced its place as a critical component in GMP for these companies.
Innovative medical device companies are embracing the Industry 4.0 paradigm for smart manufacturing to support outcome based models. They recognize that they cannot manufacture and market next generation, disruptive and personalized products with last generation processes and legacy systems.
It’s not unusual to have concerns about progress to plan when the majority of resources will be working remotely. That’s why we’ve decided to share our practices and experience in these trying times.
