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"Oracle has been helping customers like you manage your business systems and information with reliable, secure, and integrated technologies."
Source : Oracle
Beating Compliance and Competitors: Business Solutions for Medical Device Manufacturers
Life Sciences Medical Devices is also known as: Life Sciences Medical Devices, Business Solution Life Sciences Industry, Medical Devices Applications Business Solution, Oracle Life Sciences Applications, Life Sciences Industry Solutions, 
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Oracle Accelerate for Life Sciences: Medical Device
EXECUTIVE OVERVIEW
Medical device manufactures face constant pressure to innovate, manufacture and sell more efficiently ' even as they contend with unique and ever-increasing regulatory compliance requirements. In order to stay ahead their competition, they are constantly exploring ways to speed product development, bring about efficiencies in manufacturing, and increase the effectiveness of their sales and marketing investments, while continuing to address issues around product safety and regulatory compliance.
As enterprise software vendors have strengthened industry-specific capabilities, these companies have increasingly embraced commercially available enterprise solutions ' often replacing patchworks of home-grown and point solutions systems ' to gain a competitive edge within their industry.
Growing medical device companies face the same issues as their larger counterparts, but also have special concerns about affordability and speed of deployment. These concerns have slowed the adoption of enterprise solutions by smaller manufacturers, despite the demonstrated benefits.
Oracle Accelerate for medical device represents a new class of solutions that puts enterprise software, with industry-specific capabilities, within reach of fast-growing companies. This paper first discusses the benefits of Oracle"s solution in addressing the key challenges that medical device manufacturers encounter. It then explains how these enterprise-strength capabilities have been designed and packaged into an affordable, flexible and scaleable Oracle Accelerate solution for midsize organizations.
AN INDUSTRY OVERVIEW
Optimize new product development, improve operational efficiencies, streamline compliance, increase marketing, sales and service effectiveness are just a few of the critical business issues impacting the revenues, competitiveness, and profits of medical device manufacturers.
To make timely and well informed decisions, executives need to get answers to questions like:
- "How can I keep pace with new medical technologies, competitive offerings, and clinical demands to bring new products to market quickly and in a cost effective manner?"
- "How can my organization meet the increasing regulatory compliance requirements, while improving product quality and ensuring product profitability?"
- "How can I increase the efficiency of my sales, marketing and service organization to provide greater value to customers and maximize revenue growth?"
Fast-growing companies or midsize organizations face issues that are similar to their larger counterparts. In addition they need to continue to be nimble and find new ways to differentiate themselves through their products, services and delivery capability. Midsize medical device manufacturers also face challenges of having silos of information systems, which limits their overall ability to address the challenges their business encounters. To successfully compete firms need to implement business applications that enhance the ability to:
- Optimize New Product Development ' The project management steps involved with bringing a new product to market is complex. It requires continuous monitoring to meet expected delivery and financial targets. Making the best resource-allocation decisions as quickly as possible increases revenue and significantly reduces the cost of research, manufacturing, and sales. With Oracle, you can take advantage of the world"s leading transformational Customer Relationship Management (CRM) application to maintain a centralized trial management system that helps users around the world identify problems earlier and take corrective action sooner, thus reducing trial costs. A comprehensive integrated application helps manage product development lifecycle and resources efficiently. It shortens development time and helps you manage numerous trials simultaneously. All this while ensuring that you are able to comply with regulatory requirements.
- Improve Operational Efficiency & Streamline Compliance - Medical Device manufacturers are always under pressure to deliver products that are competitively priced. Even if a product is successfully introduced and promises profitability, there are always a risk factors. Risks can result from the inability to view business data globally, nonintegrated processes and failure to comply with regulations. Thus, there is always a need to minimize risks, ensure compliance and avoid costly recalls right through the entire process of planning and procurement through manufacturing. Oracle offers the industry"s most flexible and comprehensive mixed-mode manufacturing solution to meet the varied needs of medical device manufacturers. You can readily automate and validate every stage of the product lifecycle"from design concept to quality release. Oracle also supports mass customization, build to order, and project manufacturing methodologies, so you can quickly meet demand. Packaged applications with capabilities like electronic signatures, automated regulatory bookkeeping and agile manufacturing capabilities enable you to implement lean manufacturing practices that reduce operational cost, streamline compliance, and mitigate quality issues. This also enables visibility, control and management across the extended supply chain.
- Increase Marketing, Sales & Service Effectiveness ' Once products are approved, making them available to meet the growing demand, created by launch programs, is a top priority. Marketing, sales, and service chains must be highly synchronized to ensure effective fulfillment of real"as opposed to forecasted"demand. Oracle offers the only sales force and marketing applications with built-in analytics for medical customer targeting. You can use these built-in analytics online or offline, to respond quickly to market conditions and maximize sales impact. Oracle helps you dramatically improve customer service, productivity, and revenue by improving the quality, consistency, and speed of medical communication. You can improve physician segmentation and targeting for personalized and effective interactions, enable cross-functional teams to work collaboratively, improve quality. You can capture detailed repair information using the only enterprise solution with integrated serial genealogy for comprehensive device tracking and recall management.
THE ORACLE ACCELERATE DIFFERENCE
Oracle has created Oracle Accelerate especially for midsize businesses and government entities.
Oracle Accelerate delivers simply priced bundles of applications relevant to your industry segment from across the Oracle Applications product family (e.g. Oracle E-Business Suite, Oracle JD Edwards EnterpriseOne, Oracle PeopleSoft Enterprise and Oracle Siebel); Oracle Accelerate delivers rapid implementation tools called Oracle Business Accelerators to help implement solutions faster; Oracle Accelerate provides implementation services delivered through Oracle Consulting Services or partners who specialize in your industry segment, to minimize startup time and risk.
Using a fixed-scope approach, Oracle Accelerate substantially reduces the complexity of more traditional, large-scale implementations. Now you can have the right applications to manage your operations and data, at the right cost"so you can achieve real business value quickly while avoiding the expensive rip-and-replace costs of other inflexible, non-scalable solutions.
WHY ORACLE ACCELERATE FOR MEDICAL DEVICE COMPANIES?
For growing medical device organizations, Oracle Accelerate offers a comprehensive software solution that drives demand driven supply chains, product innovation, and the overall distribution process through automated operations and informed decision making. Oracle Accelerate for medical device companies incorporates best practices while maintaining the flexibility to support your evolving needs.
Oracle Accelerate provides a comprehensive and flexible solution ' giving you a solution that meets your needs today and tomorrow.
- Complete ' The simplest to the most complex business processes can be managed with one business applications footprint.
- Integrated ' Take advantage of the leading industry capabilities without having to your increase IT resources.
- Scalable ' Start small, add and change as you need, without fear or uncertainty that you will outgrow your business applications.
Oracle Accelerate is designed and built for midsize Medical Device companies.
- Rapid Deployment ' Applications, Business Accelerators, documentation, test scripts ' all pre-bundled to meet your needs today and tomorrow
- Best Practices ' Leverage best in class industry best practices developed by Oracle and our partners having worked with thousands of customers
- Custom Fit ' Bundle solutions"you decide what you need and when you need it and incorporate your business practices during the implementation process.
Oracle Accelerate provides an affordable solution that is easy to own with predictable value.
- Easy to Buy ' Simple and affordable packaged pricing
- Easy to Use ' Applications and business flows easily configured to do business the way you do business.
- Easy to Maintain ' Minimal IT overhead required for support. Stay on the upgrade path.
- Easy to Adapt ' Solutions that allows you to decide what you need and when you need it
BENEFITING FROM INDUSTRY-LEADING BEST PRACTICE BUSINESS PROCESSES AND DATA
Oracle Accelerate for Medical Device solution provides a baseline of standard processes, user-friendly setup utilities, master file records, end-user task views, roles, and security profiles. This baseline allows you to save time and money by providing a foundation upon which you can build your solution. Oracle Accelerate for Medical Device includes the following business processes:
INFORMATION ACCELERATES
Oracle has created Oracle Accelerate especially for fast-growing businesses with limited resources. Oracle Accelerate delivers simply priced bundles of applications; rapid implementation tools; and implentation services delivered by Oracle Consulting Services or partners who specialize in your industry to minimize startup time and risk. It utilizes a fixed-scope approach, substantially reducing the complexity of more traditional, large-scale implementations. For customers interested in a rapid, low risk approach, Oracle Accelerate provides the opportunity to leverage world-class functionality at unprecedented entry-level value. For fast-growing medical device companies, Oracle Accelerate offers a comprehensive software solution that drives compliance, product innovation, manufacturing excellence and program driven supply chains through automated operations and informed decision making. Oracle Accelerate incorporates best practices while maintaining the flexibility to support your evolving needs. Now midsize medical device companies can have the right applications to manage their operations and data, at the right cost"thus achieve real business value quickly.
For customers interested in a rapid, low risk approach, Oracle Accelerate provides the opportunity to leverage world-class functionality at unprecedented entry-level value. Learn more at:
&8226; For information about Oracle Accelerate for medical device industry, please visit: www.oracle.com/accelerate