Before the senior director of the global supply chain at Edwards
Lifesciences’ presentation at MD&M West 2014 Conference in Anaheim, CA, he
talked about the theme of his session which was the best practices for medical
device companies on supply chain strategies in the face of regulatory,
technology, and margin-pressure challenges, as well as legislative changes.
The senior director explained that
innovation is and will always boost medical device companies. However, one
shall notice that there is another key factor in the healthcare industry:
operational and supply chain efficiencies, which is requiring transformational
strategies for managing the supply chain. In addition, regulatory requirements
are becoming more detailed and more constraining. At the same time, there are
increasing margin pressures and legislative changes. All of these different factors
are forcing companies to reevaluate their operations and supply chain
strategies.
The senior director advises
that innovation is not enough in the face of regulatory forces, legislative
changes and margin pressures. In order to remain leaders in the medical device
industry, companies should improve quality, lean manufacturing operations,
distribution efficiencies, and inventory optimizations. Some areas to be focus
on: global sales and operations planning platform, solid manufacturing
improvement program (that includes lean manufacturing principles), determining
how to introduce new products to the market and supplier risk management.
