Menu

News & Media

How to Ensure Your Business Thrives in the Medical Equipment Manufacturing Industry

By: Klugo Group12 July 2017 Klugo News, Thought Leadership

medical equipment manufacturing

The medical equipment manufacturing sector is growing rapidly. With an ageing population and emerging foreign markets, medical equipment manufacturers face endless challenges within the industry; competitive pressures, product complexity and customer demand to name a few.

Some key drivers for the industry include health expenditure, demand from scientific research services and a further demand from an ageing population with many now living to well above 70 years. ERP software is becoming more popular for medical equipment manufacturers in order to comprehensively manage the entire business using one single solution. 

What’s happening in the medical equipment market?

New technologies, standards and regulations are continuously being introduced, so staying ahead of these changes can be crucial in whether your business makes or breaks. Medical equipment manufacturers are subject to endless regulations and standards that they have to comply with. There are constant quality challenges, whereby maintaining quality standards has become even harder for manufacturers in the industry. There is also a need for access to low-cost, 24/7 technical support. Medical devices are used around the clock across the world, and they require timely technical support to avoid costly issues. With medical equipment manufacturing businesses facing challenges and competition like never before, a solid, reliable management platform is crucial to support the business.

Top 10 benefits for medical equipment manufacturers implementing an ERP

  • Complete product and component traceability with strengthened inventory and warehouse management.
  • Ability to handle multiple planning models and configuration.
  • Visibility across all aspects of the business.
  • Improved supply chain management and cost control.
  • Flexibility in adapting products to specific customer wishes.
  • Enhanced shop floor productivity.
  • Improved lifecycle management.
  • Low cost, efficient operations.
  • Effective sales and support.
  • Optimised production capacity.

What are others in the industry doing?

MiniFAB is a privately-held contract engineering firm providing custom development and manufacturing of disposable polymer microfluidic and micro-engineered products. Implementing a cloud-based ERP software system was the only way to support its global expansion, by keeping infrastructure costs to a minimum and providing a nimble, accessible system anywhere in the world.

Annaliese Kloé, CEO of Klugo says “I have seen the effects first hand of software that just gets you by. Nowadays, the market is so competitive that businesses cannot grow without having a strong, core support system, so it was great that we could provide that for MiniFAB.”

Read the full story here.

For more information about MiniFAB, visit their website.

Klugo Group Klugo is a software and professional services provider helping businesses transform by implementing NetSuite, the world’s #1 Cloud ERP solution.