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In business management inventory consists of a list of goods and materials held available in stock. Management of an inventory or Inventory management is all about handling functio

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

ns related to the tracking and management of material. This includes the monitoring of material moved into and out of stockroom locations and reconciling the inventory balances, se

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

Examples of combination products may in

ting targets, providing replenishment techniques, reporting actual and projected inventory status. The task of ABC analysis, lot tracking, cycle counting support etc. can even be a

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

part of inventory management.

The primary and foremost step in inventory management is acquiring accurate information for inbound operations. The information so gained in advance

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

can be a crucial factor in improving the inbound productivity. Setting up of an advanced inbound strategy and execution framework can be done without too much of re-engineering eff

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

Combination pro

rt for the supply chain. The perfect way to commence is to make the best use of information available to you and establish a set of rules and regulations to harness the information

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

efficiently.

In order to better your work and progress further you can conduct a survey by asking supply chain executives to name the five most important area for improvement in

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

perations support systems. The outcome of your survey will reflect better inventory planning as one of the target areas. You must pay special heed to establish an effective way to

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

maintain inventory data integrity or setting up higher productivity and capacity utilization. Lack of efficient inventory data integrity can lead to large amount of non-productive

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

abor, underutilized distribution center capacity and diminished customer service levels due to incomplete or late orders.

From past few years distributors were looking forward for

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

a device that can help them control and manage their largest asset, inventory. As a result several computer software companies have developed comprehensive inventory management mod

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

Following aspects would a

ules and systems. These fresh packages enable the distributor to effectively manage his warehouse stock.

Tough the software technique is a beneficial aid yet it cannot provide sol

dd to the challenges in developing combination products:

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

tions to inventory management problems. In order for the inventory management system to live upto its potential and perform its best, make sure that you follow quite a few basic an

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

d extremely significant ways of good inventory management.

To begin with, ensure that your company is protected against theft. There should be no pilferage problem at your place.

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

hile ordering, order only the amount of non-stock or special order items that your customer has approved of. If you wish to add an inventory, you must get a purchase commitment fro

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

your customer. Make sure that you assign and use bin sites. Establishment and usage of proper bin sites make order picking a hassle free job in your warehouse. Don’t ever forget t

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

Professional from academic institutions, pharmaceutical industries, health care indust

o make an entry of the material leaving your warehouse. Try to get rid of the ‘no charge/no paperwork’ material swaps. You should charge the product samples to a salesperson accoun

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

until they are either returned to stock or charged to the customer.

Effective inventory management also requires paper work (picking documents to be filled by the end of the day,

.

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

entry of every single stock receipt in computer etc.) that is upto the mark, determination of the most beneficial replenishment strategy for each item in each warehouse, setting u

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

Companies that provide selfless information through particip

some lucrative offers and awards for the buyers, specifying guidelines for setting the reorder method and setting up of an on-going dead stock and excess inventory control program

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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