Advice You - Business

Logistics, asset management and inventory control are so important to any business. Whether you operate a point of sale business, a shipping center, or any business

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

that ships or receives supplies or products, it is difficult to manually keep track of what is coming and going. Bar codes and automation save time, money and lost a

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

Examples of combination products may in

ssets. This method, once fully implemented, can save thousands or even millions of dollars over a short period of time.

You may think it will cost a bundle of money

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

to implement a barcode system to control and track assets. This is not true. A barcode label printer is quite affordable, durable and long lasting. Most businesses

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

nly require a few of these devices to effectively manage assets. The very small investment pays for itself almost immediately.

The label printer produces printouts

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

Combination pro

that are durable and will not smear or smudge so they can easily be read by a barcode reader. Most even have memory functions to store the most frequently printed la

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

bel information. Also, an entire database of inventory and the associated barcodes can be downloaded from a computer into the label maker for easy printing of labels

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

for each and every item in your inventory.

The Brother International TP-1650 P-Touch Electronic Labeling System is one example of a label printer with the capabili

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

ies you need to implement automated inventory control, barcode- tracked logistics or asset management into your business. It quickly creates automatically sized labe

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

ls that can include graphics and can even sequentially number the codes.

Even the aerospace industry is using automated logistics functions using barcode labels cre

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

ated by the same type of label printer that you can use at your own place of business. As soon as items arrive, create their unique barcode markings and apply the pr

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

Following aspects would a

inted label to the item. Scan the item into the computer system. This will add to your inventory count of that particular asset. When the item is sold, shipped or re

dd to the challenges in developing combination products:

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

oved from inventory through use or another method, scan the barcode again and your asset count will be reduced. This allows you to know, up to the minute, exactly ho

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

w much inventory you have on hand of each item and the actual value of your total inventory.

The use of a label printer for this purpose can also identify inventory

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

reduction that is the result of shrinkage. Shrinkage is a term that refers to inventory that disappears through theft, personal use, or other unethical means. You m

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

ay think you have trustworthy employees only to learn that you are losing a lot of money because someone is stealing inventory and selling it on the side.

Why wonde

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

Professional from academic institutions, pharmaceutical industries, health care indust

what you have on hand to sell or use in your business enterprise? Why manually count inventory, consuming time and therefore money? Know in an instant how many widg

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

ets are in the widget inventory and the exact value of your widget inventory. It' so simple and easy when you implement a plan where every employee uses a label prin

.

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

ter to create barcodes and labels to mark the items as they come into inventory and as they leave your asset stock.

A label printer system that allows you to dynami

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

Companies that provide selfless information through particip

cally track materials and sales can make a huge difference in how you do business. Work smarter rather than harder and raise the bottom line by saving time and money

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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